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"Liquidity has been a problem"
- Henrik Drusebjerg, a senior strategist at Nordea Bank AB
Swiss stocks gained on Wednesday, after the Federal Reserve System and five major European central banks cut rate 0.5 percent on existing U.S. dollar liquidity swap arrangements.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 2.19%, or 121.07 points, to 5,652.31. The broader Swiss Performance Index advanced 2.29%, or 114.89 points, to 5,131.31.
"Liquidity has been a problem," said Henrik Drusebjerg, a senior strategist at Nordea Bank AB in Copenhagen.
"You have central banks acting in a coordinated manner, you had China moving today too and you have the hope that European politicians will use their next meeting to get in front of the problem instead of being behind."