"Fairly disappointing trade and new loans data out of China have renewed worries that China's slowdown might be more pronounced than originally feared"
- Markus Huber, head of German sales trading at ETX Capital
Swiss stocks lost ground on Friday after a report showed that China trade surplus narrowed to less than expected $25.1 billion in July, a sign the global economy is slowing.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies lost 0.34%, or 21.85, to 6,483.44. The broader Swiss Performance Index erased 0.36%, or 21.66 points, to 5,994.37.
"Fairly disappointing trade and new loans data out of China have renewed worries that China's slowdown might be more pronounced than originally feared," Markus Huber, head of German sales trading at ETX Capital in London, wrote.
"So far this week's market action -- a consolidation at high levels -- doesn't come as much of a surprise, especially after the impressive run up of the previous couple of weeks."
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