"Investors aren't letting the continuing stress factors, like the European debt crisis, out of their sight"
- Manfred Hofer, senior investment analyst at LGT Capital Management AG
Swiss stocks edged lower on Thursday after a report showed economic confidence in the euro zone deteriorated and jobless claims in the U.S. came out worse than economists forecast.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 0.46%, or 28.16 points, to 6,122.41. The broader Swiss Performance Index erased 0.24%, or 13.55 points, to 5,704.19.
"Investors aren't letting the continuing stress factors, like the European debt crisis, out of their sight," said Manfred Hofer, senior investment analyst at LGT Capital Management AG in Pfaeffikon, Switzerland.
"Confidence in the markets has yet to be restored. All in all, it's a balanced situation and a sideways movement with strong fluctuations can be expected in the next few days."
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