By Corinne Gretler
Stocks in Switzerland (SMI) dropped as the Swiss National Bank President Philipp Hildebrand resigned after a currency purchase by his wife last year became controversial.
Novartis AG (NOVN) led losses. UBS AG (UBSN) and Credit Suisse Group AG (CSGN), Switzerland’s biggest banks, fell at least 1.5 percent. Kuehne & Nagel International AG, the world’s largest sea-freight forwarder, rose 1.6 percent.
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