Swiss perspectives in 10 languages

SMI comes under renewed pressure as crisis continues

The SMI is heading south Keystone Archive

The Swiss Market index has fallen to a new low for the year as investors continue to worry about the economic consequences of last week's suicide attacks in the United States. The blue-chip index closed down 4.5 per cent, falling below the previous low of 5455.5 set earlier this week.

The SMI was not alone, with stock exchanges in Frankfurt, London and Paris all showing sharp falls. Airline companies, insurance firms and other financial stacks led the decline.

In Switzerland by mid-afternoon, all but two of the SMI’s 29 listed shares had registered falls. Only the telecommunications operator, Swisscom, and the inspections company, SGS, bucked the trend.

Defensive stocks such as Nestlé, Roche and Novartis were also down, though by less than the market average.

Meanwhile the Swiss franc is continuing to gain strength against the dollar, the euro and other major currencies as currency dealers take advantage of its traditional status as a safe haven.

On Thursday, the Swiss currency rose to a record level against the euro for a fifth consecutive day. It also stands at a 20 month high against the dollar.

swissinfo with agencies

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR