UPDATE 5-Swiss shares post biggest one-day fall since 1989 on franc furore

jueves 15 de enero de 2015 14:02 GYT
 

* Swiss stocks slump after SNB scraps euro cap on franc

* Biggest one-day fall for Swiss index since 1989

* Loss in market value estimated at 105 billion francs

* Huge losses for major stocks Swatch, Richemont (Updates with closing prices)

By Atul Prakash

LONDON, Jan 15 (Reuters) - Frantic trading after the Swiss National Bank scrapped its euro cap on the franc on Thursday drove Swiss stocks down nearly 9 percent, their biggest one-day percentage fall for at least 25 years.

One trader described the central bank's move as "carnage", while Swatch Chief Executive Nick Hayek called the franc's surge in value against the euro an economic "tsunami" for Switzerland, which sells more than 40 percent of its exports to Europe.

Stocks including watchmaker Swatch, luxury goods firm Richemont and cement maker Holcim slumped by between 11 and more than 16 percent as the franc surged against the euro.   Continuación...