"Both Chancellor Merkel and President Hollande said that they would do everything to protect the euro"
- Chris Beauchamp, a market analyst at IG Index
Swiss stocks closed higher on Friday after German Chancellor Angela Merkel and French President Francois Hollande pledged to protect the single currency and a report showed the U.S. economy expanded more than forecast.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 1.36%, or 85.08 points, to 6,362.82. The broader Swiss Performance Index rose 1.28%, or 74.49 points, to 5,881.58.
"Both Chancellor Merkel and President Hollande said that they would do everything to protect the euro," said Chris Beauchamp, a market analyst at IG Index in London.
"In the U.S., GDP growth came in broadly in line with expectations, at 1.5 percent for the second quarter, so we were spared any disappointment."
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