"The market is anticipating a third round of quantitative easing [in the U.S.]"
- Jonathan Sudaria, a trader at Capital Spreads
Swiss stocks ended Monday's session higher, snapping five days of losses after German Ifo business confidence unexpectedly rose and the Fed said accommodative monetary policy is required to sustain employment growth.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 0.69%, or 42.93 points, to 6,283.26. The broader Swiss Performance Index gained 0.74%, or 42.33 points, to 5,760.04.
In the U.S., Fed Chairman Ben S. Bernanke said the country may need additional stimulus to ensure further employment growth. "That means we're going to need help from liquidity to hold up the jobs market," said John Plassard, director at Louis Capital Markets SA in Geneva. "The market is anticipating a third round of quantitative easing."
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