"After the euphoria of the ECB capital injection, we've come back to reality"
- Matthieu Giuliani, a fund manager at Banque Palatine SA
Swiss stocks closed little changed on Friday after the S&P has cut Spain's credit rating and a report showed the U.S. economy expanded less than forecast.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 0.10%, or 6.05 points, to 6,116.36. The broader Swiss Performance Index was unchanged from the previous day.
"After the euphoria of the ECB capital injection, we've come back to reality," said Matthieu Giuliani, a fund manager at Paris-based Banque Palatine SA.
"Economic statistics will continue to be difficult considering countries' deficits and the fact that they aren't attacking the problem. Growth in the macro economy won't be found soon."
© Dukascopy Bank