Swiss Stocks Finish Lower As Adecco, Sulzer Tumble

(RTTNews) - Swiss stocks edged lower for second straight session on Thursday, although shares finished the day off their early lows.

The Swiss Market Index (SMI), which includes stocks of Switzerland's 20 most important companies, slipped 0.35 percent to 8381.01.

The Swiss Leader Index slipped 0.51 percent to 1285.63 and the broader SPI lost 0.53 percent to 8,000.94.

Reinsurer Swiss Re led the few gainers on the main index, pushing higher by 0.4 percent.

Swiss Re reported improved profit for the full year, proposed a special dividend, and named insider David Cole as Chief Financial Officer, effective May 1.

Rival Zurich Insurance slipped 1.4 percent.

Adecco was the day's worst performer among the SMI, dropping 4.3 percent.

Sulzer AG, the Swiss pumpmaker, proposed former Siemens AG Chief Executive Peter Loescher as chairman. The pump maker reported slightly disappointing full-year sales, but earnings beat expectations. The stock fell 7.6 percent.

Kuehne + Nagel signed a four-year logistics contract with Airbus Defence and Space in Poland. Shares lost 0.6 percent.