LONDON, July 2 (Reuters) - Volumes traded on Switzerland’s SIX stock exchange hit their highest in six weeks on Monday while over-the-counter activity fell, as investors switched to the domestic bourse amid a deepening rift between Bern and Brussels, Refinitiv data showed.
Volumes on the exchange, known as ‘lit exchange’ volume, totalled more than 75 million units, the highest since mid-May.
The jump came after Brussels blocked the trading of Swiss shares on EU exchanges after talks to resolve a dispute over a stalled partnership treaty collapsed last month, plunging the market into uncharted territory. The Swiss government retaliated by forbidding access to its stock markets.
Activity on Monday, the day the blockades came into effect, was also boosted by investors piling into equities across Europe after Washington and Beijing agreed to resume trade talks, soothing worries about mounting global tensions.
But the data gives an insight into how the row between Bern and Brussels has upset equity trade flows. The Refinitiv data covers all asset classes, but the majority of SIX business is in equities.
Reporting by Josephine Mason and Helen Reid; Editing by Kevin Liffey