Swiss Stock Market Rises on US Employment Data

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

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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