© Dukascopy Bank
|
"After the recent rally, the market is coming back to reality"
- Yves Marcais, a sales trader at Global Equities
Swiss stocks lost ground on Thursday, snapping five-day rally, on concern European banks will have to raise additional capital.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, shed 0.52%, or 31.51 points, to 6,026.57. The broader Swiss Performance Index lost 0.63%, or 34.36 points, to 5,422.20.
"After the recent rally, the market is coming back to reality," said Yves Marcais, a sales trader at Global Equities in Paris.
"There are challenges to face in the first half of the year, such as ratings in Europe and Italian bond sales. The ghosts of the second half of last year are returning."