Swiss Stocks Are Little Changed as Actelion Advances
Swiss stocks were little changed before reports on German investor confidence and euro-area industrial production.
The benchmark SMI (SMI) dropped 0.1 percent to 8,135.89 at 9:38 a.m. in Zurich, erasing an advance of as much as 0.5 percent. The broader Swiss Performance Index also lost 0.1 percent.
A measure of German investor confidence probably rose in May, a report at 11 a.m. in Mannheim will show. The ZEW Center for European Economic Research’s index of investor and analyst expectations climbed to 40 from 36.3 in April, economists forecast in a Bloomberg survey. The measure aims to predict economic developments six months in advance.
A separate report at the same time will probably show that euro-area industrial production rose 0.5 percent in March, according to the median estimate of economists in a Bloomberg survey. The measure gained 0.4 percent in February.
Finance chiefs from the 27 members of the European Union meet for a second day in Brussels to discuss plans to create a banking union for the region.
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