Swiss Stocks Fall as Franc Gains; Richemont, Swatch Slide

Swiss stocks fell for a second day, paring three weeks of gains in the benchmark index, as Cie. Financiere Richemont SA slumped the most in more than seven months and the franc gained against the euro.

Richemont tumbled 5.6 percent, for the largest decline since June, after the world’s second-biggest luxury-goods company reported sales that missed estimates. Flughafen Zuerich AG dropped 2.9 percent after Nomura Holdings Inc. downgraded its recommendation for the stock.