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"Investors appreciated the introduction of austerity measures by the Italian government"
- Anita Paluch, a senior sales trader at Gekko Global Markets Ltd.
Swiss stocks closed little changed on Thursday after Italian bond auction and amid low trading volume on the market.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 0.02%, or 1.35 points, to 5,896.60. The broader Swiss Performance Index advanced 0.09%, or 4.69 points, to 5,309.59.
"As much as the investors appreciated the introduction of austerity measures by the Italian government, a far more important issue is Italy's growth potential while the country is maintaining fiscal discipline," said Anita Paluch, a senior sales trader at Gekko Global Markets Ltd. in London. "This is what Italy needs to convince the markets of."