Stocks in Switzerland Advance, Extending Five-Year High
Stocks in Switzerland rose, extending the benchmark Swiss Market Index’s highest level in more than five years, as Chinese imports and exports increased more than forecast and Holcim Ltd. (HOLN) climbed after releasing earnings.
Holcim, the world’s largest cement maker, added 2.2 percent, even after reporting a decline in adjusted first- quarter profit. Actelion Ltd. (ATLN) gained 2.9 percent after saying its selexipag drug showed reduction in pulmonary vascular resistance in a study. Credit Suisse Group AG (CSGN), Switzerland’s second-biggest bank, extended a 21-month high.
The SMI increased 0.5 percent to 8,019.74 at 10:30 a.m. in Zurich, the highest level since January 2008. The gauge is on course for a ninth consecutive month of gains, which would be the longest winning streak since 1997. The SMI has rallied 18 percent this year. The broader Swiss Performance Index also advanced 0.5 percent today.
The volume of shares changing hands in SMI-listed companies was 35 percent greater than the average of the past 30 days, according to data compiled by Bloomberg.
China’s exports rose 14.7 percent in April, the General Administration of Customs said, beating the 9.2 percent median forecast of analysts in a Bloomberg survey. Imports climbed 16.8 percent, compared with the average projection of 13 percent.
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