- Trung-Tin Nguyen, a hedge-fund manager at TTN AG
Swiss stocks fell for a third consecutive day on Thursday after a report showed U.S. jobless claims fell less than expected.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, fell 1.19%, or 74.17 points, to 6,176.26. The broader Swiss Performance Index erased 1.14%, or 65.49 points, to 5,661.16.
"The macro data has been mixed; it's very ambivalent at the moment," said Trung-Tin Nguyen, a hedge-fund manager at TTN AG in Zurich.
"The market is in consolidation mode, hence there's a slight bias to emphasize the negative. Momentum is declining, but still, pressure for asset managers to invest tends to increase."
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