Swiss stocks advance for a fifth continuous day

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Source: Dukascopy
© Dukascopy
Swiss stocks rose on Tuesday for a fifth continuous day as Actelion Ltd., Switzerland’s largest biotechnology company, and Givaudan SA, the producer of the fragrances, rallied. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 0.24%, or 13.63 points, to 5,732.19. The broader Swiss Performance Index edged higher 0.21%, or 10.71 points, to 5,180.07.

“The crisis has reached a systemic dimension,” said European Central Bank President Jean-Claude Trichet on Tuesday. “Sovereign stress has moved from the smaller economies to some of the larger countries. The crisis is systemic and must be tackled decisively.”

Swiss Federal Statistical office is to announce change in month on month producer price index on Thursday. Producer inflation declined 1.2% in September, compared to August.

“The crisis has reached a systemic dimension”
- Jean-Claude Trichet, the European Central Bank President

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Wed, 12 Oct 2011 07:57:33 GMT

Japanese stocks advance most in two weeks as Sarkozy, Merkel pledge bank recapitalization

Japanese stocks rose the most in two weeks on Tuesday as Merkel and Sarkozy pledged to support the region’s banks. The Nikkei 225 advanced 1.95%, or 168.06 points, to 8,773.68, while the broader Topix rose 1.81%, or 13.45 points, to 755.00.“Europe is starting to take some concrete steps toward recapitalizing its banks,” said Kiyoshi Ishigane, a senior strategist at Mitsubishi

Wed, 12 Oct 2011 07:56:33 GMT

U.K. manufacturing output contracts 0.3% in August

Manufacturing output in the U.K. contracted 0.3% in August, compared to July, when it slid a revised 0.2%, said the Office for National Statistics on Tuesday. Economists expected the decline of 0.1%. The British Chambers of Commerce said on Tuesday the new round of QE launched by the Bank of England last week may not be enough to prevent the

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