"Further delays in [Greece's] negotiations [with private bondholders] would lead to renewed nervousness on the financial markets"
- Anja Hochberg, head of investment strategy at Credit Suisse Group AG
Swiss stocks gained on Thursday as the Federal Reserve hinted it plans to keep interest rates at record lows through 2014.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 0.45%, or 27.07 points, to 6,100.43. The broader Swiss Performance Index rose 0.48%, or 26.27 points, to 5,514.98.
"The goal of the Fed's statement probably is to have good markets," said Thierry Deheuvels, chief executive officer at Oddo Asset Management in Paris. "We'll have an enormous excess of liquidity. Risky assets will benefit."
KOF Economic Research Agency is to announce its economic barometer later today. The index is derived via combined reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence and housing.
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