"Political leaders are in agreement on budget controls, but there isn't a lot that has changed"
- Guillaume Chaloin, a fund manager at Meeschaert Asset Management
Swiss stocks closed mixed on Tuesday amid scepticism Greece is unable to tackle with spending cuts and labour reform effectively.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, declined 0.00%, or 0.25 points, to 5,970.49. The broader Swiss Performance Index advanced 0.15%, or 8.21 points, to 5,412.50.
"Political leaders are in agreement on budget controls, but there isn't a lot that has changed," said Guillaume Chaloin, a fund manager at Paris-based Meeschaert Asset Management, which oversees $2.6 billion in assets. "We're seeing a rebound in stocks, but I think it will be short term."
The Federal Statistical Office is expected to announce year-on-year retail sales later today. Sales rose 1.8 per cent in November after increasing a revised 0.1 per cent in October.
© Dukascopy Bank