Swiss Stocks Advance; Transocean Gains as Actelion Shares Slip

The Swiss Market Index rose for a fifth day, rebounding from earlier losses in the last half hour of trading, as Germany and Portugal sold bonds.

The SMI (SMI), a measure of the biggest and most actively traded companies, added 0.1 percent to 6,058.08 in Zurich even as three stocks fell for every two that rose. The gauge advanced to its highest level since July. The broader Swiss Performance Index also rose 0.1 percent today.

“European bond auctions look to be key drivers of sentiment,” Jonathan Sudaria, a trader at London Capital Group, wrote. “Stakes are heightened this month as France, Italy and Spain also have long-dated auctions.”

Germany got bids for 5.14 billion euros ($6.7 billion) of 10-year bunds at an auction, more than its maximum sales target of 5 billion euros, the Bundesbank said. Portugal’s debt agency, IGCP, said it sold 1 billion euros of three-month bills due in April. The average yield was 4.346 percent, compared with 4.873 percent on Dec. 7.

Greece, Italy and Spain all hold auctions later this month. Common-currency members may sell as much as 262 billion euros in the first quarter and 865 billion euros over the full year, according to Deutsche Bank AG forecasts.

In the U.S., a Commerce Department report (TMNOCHNG) showed that factory orders climbed 1.8 percent in November, falling short of the 2 percent median projection of 57 economists (TMNOCHNG) surveyed by Bloomberg News. Orders dropped 0.4 percent in October.

Transocean, SGS

Transocean Ltd. (RIG), which owns the biggest fleet of offshore drilling rigs, advanced 1.5 percent to 37.99 Swiss francs. Oil yesterday rose to $102.96 a barrel. Crude climbed 8.2 percent in 2011, its third consecutive year of gains.

Actelion Ltd. (ATLN), which gained 6.3 percent over the past three trading days, slipped 0.6 percent to 33.55 Swiss francs.

SGS SA, the world’s largest goods inspection company, lost 0.9 percent to 1,573 francs. The company closed its share- buyback program after buying 77 million francs ($82 million) of shares. The stock (SGSN) was cut to “neutral” from “overweight” at HSBC Holdings Plc.

Myriad Group AG (MYRN) climbed 1.3 percent to 3.95 francs. The company confirmed its offer to buy Synchronica Plc.

To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net

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

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