"Markets look overbought in the short term and it feels as though we need a break from the recent bull run"
- Trung-Tin Nguyen, a hedge-fund manager at TTN AG
Swiss month-on-month inflation fell in January, said the Federal Statistical Office on Friday. Prices declined 0.4 per cent, after dropping 0.2 per cent in December.
Swiss stocks declined on Friday after Greek coalition leaders refused to support additional austerity measures.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, plummeted by 0.63%, or 38.97 points, to 6,130.66. The broader Swiss Performance Index fell 0.58%, or 32.30 points, to 5,562.23.
"Even though overall sentiment is still positive, negative noise out of Greece due to the delays to reach a deal ahead of the weekend have led to profit-taking." said Trung-Tin Nguyen, a hedge-fund manager at TTN AG in Zurich. "Markets look overbought in the short term and it feels as though we need a break from the recent bull run."
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