"The relief [after Greek elections] is big at first"
- Jan Amrit Poser, chief economist at Bank Sarasin
Swiss stocks edged higher on Monday after Greek pro-bailout parties won enough seats to form a government.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 0.46%, or 26.94 points, to 5,938.76. The broader Swiss Performance Index advanced 0.40%, or 21.94 points, to 5,525.39.
"The relief is big at first," Jan Amrit Poser, chief economist at Bank Sarasin in Zurich, wrote in a report.
"Now the moderate forces have won, which leads many to expect that the requirements of the troika will be met and that Greece is guaranteed to remain in the euro. Even so, all these measures aren't enough to counter the corrosive uncertainty."
© Dukascopy Bank SA