Swiss Stocks Join European Rout, Led By Banks

(RTTNews) - Swiss stocks fell sharply on Thursday as big banks continued to struggle. Other European markets were hard hit as well, stung by concerns about Portuguese lenders and sluggish economic growth.

The Swiss Market Index slipped 0.95 percent to 8,416.46.

Credit Suisse admitted it is being investigated as part of an inquiry on alternative trading venues known as dark pools. Shares fell 1.4 percent.

Julius Baer lost 2.4 percent and UBS slipped 1.78 percent.

Novartis apologized for not disclosing side-effects of its leukemia drugs sooner. Shares fell 1 percent.

Transocean slipped 2.5 percent.

Sygenta bucked the downtrend gaining 0.75 percent.