Home/FX/Newsfeed

Swiss Stock Market Rises on US Employment Data

Share Print 0

Stocks in Switzerland rose for a second day, with the benchmark Swiss Market Index heading for its third weekly gain, as a report showed that U.S. payrolls climbed more than forecast in July.

OC Oerlikon Corp AG (OERL), the world’s largest maker of textile machinery, added 1.3 percent after saying its profit margin will increase this year. Givaudan SA, the biggest manufacturer of flavors and fragrances, declined 4.6 percent as first-half earnings missed analysts’ projections.

The SMI (SMI) advanced 0.8 percent to 6,456.45 at 2:37 p.m. in Zurich, extending its rally this week to 1.5 percent. The gauge has jumped 13 percent since its 2012 low on June 4 as policy makers eased repayment terms for Spanish lenders and central banks took steps to boost economic growth. The broader Swiss Performance Index rose 0.7 percent today.

via BusinessWeek

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top