A Swiss panel from the government and the central bank is examining options such as capital controls and negative interest rates to curb the franc’s strength, Finance Minister Eveline Widmer-Schlumpf reiterated.
Among the steps being considered are negative interest rates, a levy on transactions and restrictions on the movement of Swiss and foreign currencies. The panel is also looking at restrictions, including a possible ban, on foreigners buying Swiss real estate.
EQUITIES: *Forbo sells adhesives unit for SF370 Million to HB Fuller *UBS hires MF Global’s Forlenza to run equities in Americas *UBS hires former Citadel securities trader Weir for loans *Roche units sue Dr. Reddy’s Laboratories over Valcyte patent *Energiedienst Holding says ENBW plans to sell 15.05% stake *Swiss bankers’ millionaire dreams fade as assets, margins drop *Cham Paper Group to lower headcount to about 100 *Kuoni agrees to Buy Royal Tours to expand in Africa
ECONOMY/POLITICS: *Swiss panel from the government and the central bank is examining options such as capital controls and negative interest rates to curb the franc’s strength, Finance Minister Eveline Widmer-Schlumpf said
MARKETS: *The benchmark SMI rose less than 0.1 percent to 5,804.77 *The SPI was little changed at 5,227.89 *The Stoxx Europe 600 Index fell 1.2 percent *The MSCI Asia-Pacific Index was down 0.5 percent at 7:33 a.m. Swiss time *Euro-franc traded at 1.221 at 7:32 a.m. Zurich time
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