Advertisement
UK markets open in 2 hours 59 minutes
  • NIKKEI 225

    37,723.99
    -736.09 (-1.91%)
     
  • HANG SENG

    17,277.40
    +76.13 (+0.44%)
     
  • CRUDE OIL

    82.88
    +0.07 (+0.08%)
     
  • GOLD FUTURES

    2,325.70
    -12.70 (-0.54%)
     
  • DOW

    38,460.92
    -42.77 (-0.11%)
     
  • Bitcoin GBP

    51,573.85
    -1,875.45 (-3.51%)
     
  • CMC Crypto 200

    1,391.92
    -32.18 (-2.26%)
     
  • NASDAQ Composite

    15,712.75
    +16.11 (+0.10%)
     
  • UK FTSE All Share

    4,374.06
    -4.69 (-0.11%)
     

Swiss looks set to dismiss ban on funding of weapons makers

FILE PHOTO: A banner reading "Yes to war business initiative" is placed on a railing in Zurich

ZURICH (Reuters) - Swiss voters on Sunday looked set to reject a proposal seeking to impose a ban on funding arms makers, the latest anti-military referendum in a nation that hasn't fought an external war for 200 years, first projections released by broadcaster SRF showed.

A wide majority of 58% of voters looked set to reject the proposal, which would have implications for major Swiss banks and investors, as well as Swiss industry, initial counts showed.

The Initiative Against the War Trade proposed banning the central bank and pension funds from holding shares in companies which generate more than 5% of sales from weapons and components. It would ban banks from lending to defence firms.

(Reporting by Brenna Hughes Neghaiwi; Editing by Edmund Blair)