"We remain in a cycle that began in 2007, marked by periods of strong rebounds followed closely by market corrections"
- Francois Moute, chairman of Neuflize Private Assets
Swiss stocks retreated on Friday, after China's economic growth slowed more than forecast.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 0.87%, or 53.27 points, to 6,072.12. The broader Swiss Performance Index fell 0.81%, or 45.65 points, to 5,595.35.
"We remain in a cycle that began in 2007, marked by periods of strong rebounds followed closely by market corrections," Francois Moute, chairman of Neuflize Private Assets in Paris, and Chief Executive Officer Olivia Giscard d'Estaing wrote in a note.
"In our opinion, this means it's best to remain cautious."
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