"The Empire State index, which was surprisingly bad, leads to expectations of further easing"
- Alessandro Fezzi, senior market analyst at LGT Capital Management AG
Swiss stocks rose on Wednesday after manufacturing in the New York region contracted more than economists forecast.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies advanced 0.09%, or 5.89, to 6,511.87. The broader Swiss Performance Index climbed 0.01%, or 0.54 points, to 6,011.82.
"The Empire State index, which was surprisingly bad, leads to expectations of further easing," said Alessandro Fezzi, senior market analyst at LGT Capital Management AG in Pfaeffikon, Switzerland.
"There's a good chance the Fed will again loosen its monetary stance, and this is holding up equity markets."
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