"Clearly Spain is starting to have some problems of refinancing"
- Jean Borjeix, a strategist at Platinium Gestion
Swiss stocks edged higher after Spain scraped through a key bond auction on Thursday.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, advanced 0.49%, or 30.43 points, to 6,203.78. The broader Swiss Performance Index rose 0.45%, or 25.69 points, to 5,709.90.
"The market is relieved at the fact Spain was able to fund itself in a pretty strong showing. Demand was strong even though they had to pay for higher prices," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
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