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"... investors still have big hopes for the new Italian government ..."
- John Plassard, director at Louis Capital Markets
Swiss stocks closed mixed on Tuesday, as disappointing economic growth in Europe was partly offset by better than expected retail sales in U.S. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 0.06%, or 3.20 points, to 5,664.91. The broader Swiss Performance Index declined 0.08%, or 4.03 points, to 5,147.00.
"U.S. data today weren't bad -- retail sales didn't collapse," said John Plassard, director at Louis Capital Markets in Geneva. "Furthermore, investors still have big hopes for the new Italian government and that the new austerity measures will be implemented on Friday."
Centre for European Economic Research is to announce its economic expectations for Switzerland on Thursday. Index is based on a survey of institutional investors, who are asked to rate the country's 6 month economic outlook.