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"Bond sales, before a normal course of action, since the downgrades of the U.S. and other countries, are in the spotlight"
- Fabrice Seiman, chief executive officer at Lutetia Capital
Swiss stocks edged higher for a fourth consecutive day to their highest level in more than six months on Thursday after solid bond auctions conducted by France and Spain.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 1.28%, or 78.22 points, to 6,194.45. The broader Swiss Performance Index advanced 1.31%, or 72.16 points, to 5,588.35.
"Bond sales, before a normal course of action, since the downgrades of the U.S. and other countries, are in the spotlight," said Fabrice Seiman, chief executive officer at Lutetia Capital.
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.