"There is a lot of expectation that Bernanke will take stimulus measures"
- Clairinvest, Geneva, Switzerland
Most Swiss Stocks advanced as Fed Chairman Ben Bernanke delivered his testimony to Congress, with market players speculating that Bernanke will indicate further asset purchase programme.
"There is a lot of expectation that Bernanke will take stimulus measures," said Ion-Marc Valahu, Co-founder and Fund Manager at Clairinvest in Geneva. "Over the last couple of months, sentiment has been terrible, with volumes low. It won't take much good news to give the market a lift."
The Swiss Market Index gained 0.1%, rising to 6,198.45, while still being down 2.2% from its high on 16 March 2012 amid acute tension that the Euro bloc debt crisis is undermining the Swiss economy.
The broader Swiss Performance Index rose 0.1% as well.
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