Swiss retail sales rise; stocks closed mixed on Monday

Note: This section contains information in English only.
Source: Dukascopy Bank
"Even though the Greek problem is pretty much taken care of, it's a never-ending story"
- John Plassard, director at Louis Capital Markets SA

Swiss retail sales rose 4.4 per cent in January from the same period last year, said the Federal Statistical Office on Monday.

Swiss stocks closed little changed on Monday after a report showed U.S. service industry expanded at a fastest pace in a year in February, offsetting cut in China's economic growth forecast.

The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 0.07%, or 4.54 points, to 6,153.91. The broader Swiss Performance Index fell 0.04%, or 2.06 points, to 5,620.12.

"A week ago, I became cautious," said John Plassard, director at Louis Capital Markets SA in Geneva.

"Even though the Greek problem is pretty much taken care of, it's a never- ending story. The market has been seeing the glass half full. If that changes, the market can turn quickly."

© Dukascopy Bank

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