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"The good news is that someone actually wants to buy Italian bonds"
- Henrik Henriksen, chief investment strategist at PFA Pension A/S
Swiss stocks rose modestly on Tuesday, after Italy has successfully placed all of its debt at above 7 per cent during an auction the same day.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, advanced 0.16%, or 8.58 points, to 5,531.24. The broader Swiss Performance Index gained 0.16%, or 7.96 points, to 5,016.42.
"The bad news is that Italian rates are still very high," said Henrik Henriksen, chief investment strategist at PFA Pension A/S, which manages $45 billion in Copenhagen. "The good news is that someone actually wants to buy Italian bonds."