"Markets are more driven by political headlines than by fundamental news"
- Lex Van Dam, a fund manager at Hampstead Capital LLC
Swiss stocks extended gains on Monday after German's Finance Minister Wolfgang Schaeuble said France and Germany will seek for new solutions to strengthen fiscal and monetary union.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies gained 0.24% to 6,491.28. The broader Swiss Performance Index rose to 5,994.08.
"Markets are more driven by political headlines than by fundamental news," said Lex Van Dam, a fund manager at Hampstead Capital LLC in London.
"It's a very quiet market which is no surprise for a U.K. bank holiday. Real investors remain on the side lines."
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