Investors Remain on Sidelines
May 01, 2011
The Swiss Market Index lost 6.1 to 3664.4. Traders said investors prefer to wait for any interest-rate decisions by those two leading central banks. At home, meanwhile, low Swiss interest rates helped prop up the market. Repeating the pattern of last week in drug issues, Ciba-Geigy rose 14 francs to 1539 francs and Sandoz gained 15 francs to 1445 francs, while Redding shed 45 francs to 9070 francs. Financial shares ended lower. Union Bank lost 4 francs to 1172 francs, while Zurich Insurance slipped 2 francs to 328. Among other blue chips, Nestle lost 6 francs to 1,412 francs, while ABB Asea Brown Boveri shed 2 francs to 1495 francs.
