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"Europe still stands in the foreground as all efforts to solve the debt crisis are still inadequate"
- Patrik Scheuber, head of equities at Swisscanto Asset Management AG
Swiss stocks rose on Tuesday after German investor confidence unexpectedly improved in December for the first time in 10 months, easing concerns about Europe's largest economy.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 0.22%, or 12.63 points, to 5,759.72. The broader Swiss Performance Index also grew 0.22%, or 11.25 points, to 5,201.85.
"The U.S. economy is holding up pretty well," said Patrik Scheuber, head of equities at Swisscanto Asset Management AG in Zurich. "But that is hardly enough to go significantly higher. Europe still stands in the foreground as all efforts to solve the debt crisis are still inadequate."