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"European markets remain immensely fragile and at the mercy of the sovereign-debt crisis"
- Jonathan Sudaria, a trader at London Capital Group
Swiss stocks rose on Friday after six consecutive days of losses amid rumours the European member countries may drop involvement of private investors from their permanent rescue mechanism.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, advanced 0.72%, or 38.65 points, to 5,395.61. The broader Swiss Performance Index rose 0.61%, or 29.68 points, to 4,887.84.
"We're seeing a redemption of shorts, and the bears fearing that the euro area may announce revisions to the European treaty this weekend," said John Plassard, a director at Louis Capital Markets in Geneva. "Investors are also looking for a technical rebound after so many bearish days."