Dec. 1 (Bloomberg) — Swiss stocks advanced for a fifth day as demand exceeded supply at an auction of Spanish debt and investors speculated that a report tomorrow may show U.S. payrolls expanded last month.
Zurich Financial Services AG, Switzerland’s biggest insurer, and SGS SA, which provides industrial inspection and testing, added more than 1 percent. Novartis AG led gains in health-care shares.
The Swiss Market Index, a measure of the biggest and most actively traded companies, rose 0.5 percent to 5,681.57 at the close in Zurich. The gauge has rebounded 19 percent from this year’s low on Aug. 10 as the euro area’s policy makers intensified their efforts to resolve the region’s debt crisis. The broader Swiss Performance Index climbed 0.4 percent today.
“The French and Spanish bond auctions were well received and priced,” Matthias Fankhauser, a fund manager at Clariden Leu in Zurich, said in an interview. “Until now, we just had disasters on that front. Professional investors are in the market trying to buy; they all know that if we get solutions, there is more upside.”
Thanks for sharing such useful informations.
ReplyDelete