Swiss selloff pushes European indexes lower after franc rally
European shares fell on Friday, led by a fresh slide in Swiss stocks, as investors digested the impact of a leap in the franc after the shock lifting of a central-bank currency cap on the previous day.
European shares fell on Friday, led by a fresh slide in Swiss stocks, as investors digested the impact of a leap in the franc after the shock lifting of a central-bank currency cap on the previous day.
Watch maker Swatch and private bank Julius Baer led a 3.5% slide in Zurich's SMI index as analysts and traders warned of a hit to Swiss exporters' and investors' returns after the franc's rally against the euro andthe dollar on Thursday.
The pan-European FTSEurofirst 300 index was down 0.3% at 1,389.71 points at 0816 GMT.