"Uncertainty remains, though, and the social mood remains in a bearish cycle and market volatility is likely to rise from its historic lows"
- Ron William, technical strategist at MIG Bank
Swiss investor confidence fell for the first time since December, ending a 4-month rally and intensifying concerns that the economic recovery is stalling.
An index of investor and analyst expectations that aims to predict economic developments 6 months in advance dropped to minus 4 in May from 2.1 in April, the ZEW Center for European Economic Research in Mannheim, Germany, and Zurich-based Credit Suisse Group AG said on Wednesday.
Additionally, most Swiss stocks advanced, rebounding from the lowest level this year, as Cie. Financiere Richemont SA rallied after earnings topped estimates.
The Swiss Market Index (SMI) rose 0.1% to 5,872.73 at the close in Zurich as 12 stocks rose and eight declined. The measure retreated to the lowest level since Dec. 22 yesterday as Greece's May 6 election left it struggling to form a government. The broader Swiss Performance Index gained 0.2% on Wednesday.
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