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"European stocks are very cheap and in the absence of bad news, they should rise"
- Thomas Haerter, chief strategist at Swisscanto Asset Management AG
Swiss stocks rose for a fourth consecutive day on Thursday after a report showed U.S. jobless applications decreased and consumer sentiment improved, a sign that the world's largest economy is recovering.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, advanced 0.56%, or 32.29 points, to 5,837.06. The broader Swiss Performance Index gained 0.65%, or 33.93 points, to 5,261.82.
"European stocks are very cheap and in the absence of bad news, they should rise," said Thomas Haerter, chief strategist at Swisscanto Asset Management AG in Zurich. "Volumes are very low so one should be careful about making too much of today's market."