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"Bond sales in Italy and France, because the countries have more problems, will offer more of a guide for the market"
- Arnaud Scarpaci, a fund manager at Agilis Gestion SA
Swiss stocks edged lower on Wednesday after Fitch called the European Central Bank to boost its government bond purchases to ease strains in financial markets.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, declined 0.71%, or 42.74 points, to 6,008.04. The broader Swiss Performance Index dropped 0.64%, or 34.67 points, to 5,412.89.
"Bond sales in Italy and France, because the countries have more problems, will offer more of a guide for the market," said Arnaud Scarpaci, a fund manager at Agilis Gestion SA in Paris, which oversees about $84 million.
"We need to have a credible buyer put in place and we don't have that at the moment," which is "why we have a number of sovereigns under review," Riley said.