Swiss Stock Market Extends Win Streak To Four Sessions
(RTTNews) - The Swiss stick market was in the green from start to finish on Friday, rising optimism over the outlook for interest rates and extending recent gains.
Federal Reserve Governor Christopher Waller told CNBC on Thursday that the U.S. central bank could lower interest rates multiple times this year if inflation continues to ease as expected.
Closer home, ECB Governing Council member Yannis Stournaras said on Thursday that "policy should continue with a series of rate cuts at the next meetings." Traders expect a 100-basis point cut from ECB this year.
The SMI has finished higher in four straight sessions, rallying almost 290 points or 2.4 percent along the way.
For the day, the index advanced 48.27 points or 0.40 percent to finish at 11,990.27 after trading between 11,955.94 and 12,003.09.
Among the actives, UBS Group surged 2.91 percent, while ABB soared 2.09 percent, Swatch Group spiked 1,60 percent, Adecco rallied 1.59 percent, Novartis dropped 1.40 percent, Roche Holding sank 1.19 percent, Swiss Life collected 0.95 percent, Zurich Insurance added 0.52 percent, Swiss Re gained 0.48 percent and Swisscom perked 0.10 percent.
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