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
