(RTTNews) - The Swiss stock market is lower in mid-day trading on Monday, hurt by lingering doubts about a solution to the euro-zone debt crisis.
Moody's has warned that the sovereign debt in the euro-zone could still face possible downgrades. This has been interpreted as disappointment in the EU summit that took place last week.
The benchmark SMI is lower by 0.27 percent to 5,778.15. The SLI has lost 0.68 percent to 864.60. The SPI is falling 0.37 percent to 5,220.56.
Swiss Re is down 2.7 percent. The company's CEO, Stefan Lippe, announced that he plans to retire in 2012. A successor will be named soon.
Financial stocks in general are seeing losses. Credit Suisse is down 1.7 percent. UBS is lower by 1.5 percent. There is also weakness in economically sensitive stocks. Holcim, Adecco and Actelion are each down more than 1 percent.
