BLBG: Swiss Stocks Are Little Changed Near an 11-Month Low; Credit Suisse Slides
Swiss stocks pared gains, with the Swiss Market Index trading near an 11-month low, as European Union leaders pledged to aid Greece.
Credit Suisse Group AG dropped 1.8 percent and Swiss Re tumbled 2.4 percent.
The SMI gained 5.96, or 0.1 percent, to 5,997.05 at 4:55 p.m. in Zurich. The broader Swiss Performance Index retreated 0.1 percent.
EU officials vowed at a summit in Brussels yesterday to stave off a default in Greece as long as the country’s Prime Minister George Papandreou pushes through a package of budget cuts and tax increases next week. Greek lawmakers are due to vote on 78 billion euros ($111 billion) of austerity measures on June 30.
To contact the editor responsible for this story: Will Hadfield at whadfield@bloomberg.net
