"Strong results from Apple and other European companies are helping the market"
- Otto Waser, chief investment officer at Research & Asset Management AG
Swiss stocks edged higher on Wednesday after European and U.S. companies announced better than expected earnings.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, increased 0.42%, or 25.73 points, to 6,150.57. The broader Swiss Performance Index added 0.58%, or 33.23 points, to 5,717.74.
"Strong results from Apple and other European companies are helping the market," said Otto Waser, chief investment officer at Research & Asset Management AG in Zurich.
"We're in an environment where market participants buy and sell depending on the news flow, but the market still lacks a clear trend. We've seen stronger moves and bigger changes of direction lately, leaving some investors nervous."
© Dukascopy Bank