© Dukascopy Bank
"European markets are likely to get a massive lift from the data out of China"
- Stan Shamu, a market strategist at IG Markets
Swiss stocks edged higher for a third consecutive day to their highest level in six months on Wednesday as the International Monetary Fund announced its aim to boost lending resources by additional 500 billion dollars.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 0.99%, or 60.06 points, to 6,116.23. The broader Swiss Performance Index gained 0.93%, or 50.57 points, to 5,516.19.
UBS, a Swiss global financial services company, is to announce its consumption indicator on Tuesday. The indicator is derived via combined reading of 5 economic indicators including consumer confidence, consumer spending, tourism, new car sales, and retail activity .