"The European markets are very keen on at least a small solution for Greece which is enough today to keep the market alive and the U.S. data is not that bad"
- Robert Halver, head of capital markets research at Baader Bank AG
Swiss stocks closed higher on Wednesday, boosted by the better-than-expected U.S. labour data, which offset the failure of the Eurozone leaders to agree on conditions for further aid for Greece. While the world's biggest economy is expected to expand modestly during the next few months, the data from Conference Board showed, European leaders are adding to concerns that the region's economy will continue its contraction.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 0.37 per cent to stand at 6,643.70. The broader Swiss Performance Index inched higher 0.34 per cent reaching 6,116.75.
"The European markets are very keen on at least a small solution for Greece which is enough today to keep the market alive and the U.S. data is not that bad," said Robert Halver, head of capital markets research at Baader Bank AG in Frankfurt.
"We are very close to an agreement about Greece and therefore that will be a very positive development, which is important for Greece, it is important for the euro area, it is important for Portugal and I dare to say it is important for Germany as well," said Portugal's Finance Minister Vitor Gaspar.
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