"[Wednesday's] decline confirms the bearish environment"
- Michael Scholz, an equity strategist at WestLB AG
Swiss stocks edged lower on Wednesday, snapping two days of gains, on Greek exit concern.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 1.56%, or 92.29 points, to 5,817.91. The broader Swiss Performance Index slid 1.53%, or 84.76 points, to 5,437.51.
"[Wednesday's] decline confirms the bearish environment," said Michael Scholz, an equity strategist at WestLB AG in Dusseldorf, Germany.
"Since the gains in the past two days neutralized the oversold extreme, there's now room for new lows."
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