"Corporate earnings season is definitely in investors' focus"
- Alessandro Fezzi, senior market analyst at LGT Capital Management AG
Swiss stocks lost ground on Wednesday amid worries that slowing global economy is weighting on company earnings.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, fell 0.27%, or 16.45 points, to 6,174.75. The broader Swiss Performance Index erased 0.31%, or 17.79 points, to 5,726.35.
"Corporate earnings season is definitely in investors' focus," said Alessandro Fezzi, senior market analyst at LGT Capital Management AG in Pfaeffikon, Switzerland.
"First results seem to confirm concerns of the impact of slower global growth and insecurity about the economic outlook. Markets will tend sideways with a slight negative bias today as risk appetite remains fragile."
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