Swiss Stocks Fluctuate As Focus Turns To ECB

(RTTNews) - Swiss stocks gave back early gains to finish virtually unchanged from the previous session on Wednesday, as investors eagerly waited for the European Central Bank monetary policy decision.

All eyes will be on the ECB tomorrow when the central bank decides on how much stimulus it will offer in an effort to combat deflation and spark the sluggish euro zone economy.

The Swiss Market Index was down less than a point at 8,661.08, and is little changed for the week.

Support was provided today by Holcim, up 2.7 percent, and Credit Suisse, up 2.1 percent.

Decliners included Swiss Re and Novartis.

Duty-free stores operator Dufry gained 6.2 percent on the SIX Swiss Exchange, after announcing the purchase of the Nuance group in a $1.7 billion deal.

Sonova said it is hiring the Nestle executive in charge of selling baby milk dispenser BabyNes, Martin Grieder, as group vice-president. Sonova shares rose 0.37 percent.