"It seems like there are a lot of hopes for a big solution and the [European Stability Mechanism] getting a banking license"
- Christoph Dolleschal, equity market strategist at Commerzbank
Swiss banks were closed on Wednesday in observance of Independence Day.
Swiss stocks closed little changed on Tuesday ahead of today's ECB meeting. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, slid 0.05%, or 3.11 points, to 6,399.27. The broader Swiss Performance Index lost 0.05%, or 2.88 points, to 5,915.33.
"It seems like there are a lot of hopes for a big solution and the [European Stability Mechanism] getting a banking license, which means it can get unlimited access to funds and essentially bail out any member state in the euro zone," said Christoph Dolleschal, equity market strategist at Commerzbank.
"That would end the discussion [of whether] the euro is going to make it."
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