"Investors are relieved after the Greeks passed austerity measures"
- Witold Bahrke, a senior strategist at PFA Pension A/S
Swiss stocks rose on Monday after Greece approved an austerity plan in exchange for a second European bailout.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies rose by 0.76%, or 46.78 points, to 6,177.44. The broader Swiss Performance Index gained 0.68%, or 37.62 points, to 5,599.85.
"Investors are relieved after the Greeks passed austerity measures, which was an absolute minimum requirement to allow the other euro-area nations to approve the bailout," said Witold Bahrke, a senior strategist at PFA Pension A/S in Copenhagen.
ZEW Institute is to announce Swiss economic expectations on Wednesday. An index of expectations rose to -50.1 in December from November, when it tumbled to -72. Reading above 0.0 indicates optimism, below indicates pessimism.
© Dukascopy Bank