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"Investor optimism is driven by news reports"
- Christian Zogg, fund manager at LLB Asset Management
Swiss stocks gained on Wednesday, after Italian Prime Minister Mario Monti formed a new government. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 0.37%, or 20.89 points, to 5,685.80. The broader Swiss Performance Index advanced 0.26%, or 13.49 points, to 5,160.49.
"Investor optimism is driven by news reports," said Christian Zogg, fund manager at LLB Asset Management in Vaduz, Liechtenstein. "Any bit of disappointing news will cause a downturn. The ups and downs will continue as the problem can't be solved in the short term."
Centre for European Economic Research is to announce its Swiss economic expectations index later this day. Index is based on a survey of institutional investors, who are asked to rate the country's 6 month economic outlook.