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- Mislav Matejka, chief equity strategist at JPMorgan Chase & Co.
Swiss stocks erased last week gains as Germany said there is no swift solution to Europe’s debt crisis. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 0.65%, or 37.71 points, to 5,723.41. The broader Swiss Performance Index declined 0.65%, or 33.94 points, to 5,180.62.
“Investors remain cautious and we don’t think the market already managed to re-price to a more benign scenario,” Mislav Matejka, chief European equity strategist at JPMorgan Chase & Co., wrote in a report on Monday.
The Centre for European Economic Research is to announce its economic expectations’ index on Thursday. Index is based on a survey of institutional investors and analysts, who are asked to rate Swiss economic outlook.