Swiss stocks rose on Thursday

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Source: Dukascopy
© Dukascopy
“The most pressing problem at the moment is Greece”- Benno Galliker, a trader at Luzerner KantonalbankImpact: MediumSwiss stocks advanced for the fourth day in five on Thursday, as the German Parliament voted for increase of the European Financial Stability Facility. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 1.03%, or 56.95 points, to 5,608.6. The broader Swiss Performance Index gained 0.9%, or 45.34 points, to 5,080.92.“There are questions how this debt is going to be dealt with and the Europeans have a clear calendar, a clear plan as to how they want to move forward,” said Vikram Pandit, chief executive officer at Citigroup Inc. “Our core view remains the way it has been for a while, which is that the Europeans will figure it out. They’ll get through the debt crisis and they’ll get to the other side being fully committed to the euro.”KOF economic research agency is to announce its sentiment index today. Economists expect the reading to decline to 1.46 in September, down from 1.61 in August.
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