Bloomberg News

Most Swiss Stocks Rise as Bernanke Gives Testimony

July 17, 2012

Most Swiss Stocks rose as Federal Reserve Chairman Ben S. Bernanke delivered his semi-annual monetary-policy testimony to Congress, with investors speculating he’ll hint at further quantitative-easing measures.

Lonza Group AG (LONN) jumped 2.3 percent as Deutsche Bank AG upgraded its recommendation for the world’s biggest maker of drug ingredients. Kuehne & Nagel International AG climbed 3.5 percent. SGS SA (SGSN), the largest industrial-inspection company, added 2.2 percent after reporting sales that beat estimates.

The Swiss Market Index rose 0.1 percent to 6,198.45 at 4:08 p.m. in Zurich, with 10 of the gauge’s 20 members rising and eight falling. The measure has still dropped 2.2 percent from its 2012 high on March 16 amid concern the euro-area debt crisis is hurting the economy. The broader Swiss Performance Index gained 0.1 percent today.

To contact the reporter on this story: Corinne Gretler in Zurich at cgretler1@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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