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"It's still too early for euphoria"
- Stefan Angele, head of investment management at Swiss & Global Asset Management Ltd.
Swiss stocks edged higher on Tuesday after a report showed U.S. manufacturing sector accelerated at the fastest pace in half a year in December.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 1.93%, or 114.70 points, to 6,050.93. The broader Swiss Performance Index gained 2.04%, or 109.25 points, to 5,452.77.
"The U.S. economy has the potential to surprise positively if one considers that the markets have already priced in a lot of the negative," said Stefan Angele, head of investment management at Swiss & Global Asset Management Ltd. in Zurich.
"However, I assume it's still too early for euphoria. The unsolved problems of the European debt crisis and the resulting uncertainties in the financial system will likely weigh upon the market."