Swiss stocks are showing weakness in mid-day trading on Monday. The market attempted some early gains, but has lost ground steadily through the morning. Worries about the debt crisis in Europe and news of the arrest of the head of the IMF have weighed on stocks.
The benchmark SMI is lower by 0.65 percent in mid-day trading, slipping to 6,520.63. The SLI is down 0.8 percent to 1,020.15. The SPI is down 0.6 percent to 6,007.79.
The market closed out last week with gains. Stocks were higher on Friday, capping a positive few days for the Swiss market. However, renewed concern about debt and the economy, intensified by uncertainty surrounding the arrest of the IMF chief on charges of rape, has sparked profit taking on Monday morning.
With traders worried about the debt situation in Europe, financial stocks have been hard hit so far on Monday. CS is down 2 percent and UBS is showing a 1.5-percent decline.
Cyclical stocks are also among the leaders to the downside, hurt by worries about the economy. Clariant is down 2.4 percent, Logitech is lower by 1.8 percent and Richemont is posting a 1.4-percent retreat.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.