Swiss Stocks Inch Down Ahead Of Fed Decision

(RTTNews) - Swiss stocks inched lower Wednesday, with most markets around Europe quiet ahead of today's U.S. Federal Reserve announcement.

Analysts think the Fed may drop its pledge to keep rates at historic lows despite economic headwinds outside the U.S.

The Swiss Market Index slipped 0.22 percent to 8,775.88, trimming yesterday's decent gains.

UBS plans to nominate Jes Staley of hedge fund BlueMountain Capital Management to the board. Shares slipped 0.42 percent.

Oil services provider Transcoean shares were up 4.3 percent, adding to gains from the previous session. The stock recently plunged as crude oil prices fell.

Three groups are lining up to purchase assets Holcim must liquidate to fulfill its merger with French rival Lafarge, according to reports. Holcim was flat.

Evolva said Emergent BioSolutions Inc. has acquired the company's anti-bacterial programme, known as the EV-035 series, for $70.5 million and royalties. Evolva added 3.3 percent.

Citigroup Inc. initiated coverage on shares of Sonova. The firm issued a sell rating on the stock. Shares slipped 1.5 percent.