Swiss Stocks Decline, Extending Weekly Drop; Nestle Retreats

Stocks in Switzerland fell, extending this week’s drop on the benchmark Swiss Market Index (SMI), led by declines in Nestle SA and Roche Holding AG. (ROG)

Nestle, Roche and Novartis AG (NOVN), which account for almost 57 percent of the gauge by weight, retreated as investors sold the shares of companies with profits less tied to economic growth. UBS AG (UBSN) and Credit Suisse Group AG (CSGN) both climbed more than 1 percent.

The SMI lost 19.27, or 0.3 percent, to 6,181.7 as of 10:13 a.m. in Zurich. The measure has dropped 0.9 percent this week. The broader Swiss Performance Index slid 0.2 percent today.

A U.S. Commerce Department report at 10 a.m. in Washington today may show purchases of new houses climbed in January to a nine-month high, according to economists. Investors awaited another report on consumer sentiment in the world’s largest economy.

To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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