Swiss Stocks Little Changed Before U.S. Confidence Data

Swiss stocks were little changed after yesterday’s decline as investors awaited reports on U.S. consumer confidence and durable-goods orders.

UBS AG (UBSN), Switzerland’s biggest lender, rose 0.6 percent after RBC Capital Markets upgraded the shares. Komax Holding AG (KOMN) added 1.3 percent after the wire-processing machine manufacturer acquired a stake in SLE Quality Engineering GmbH.

The SMI (SMI) increased less than 0.1 percent to 8,239.76 at 10:18 a.m. in Zurich. The benchmark index lost 0.8 percent yesterday, its biggest decline in more than a month. The gauge has climbed 21 percent this year, heading for the biggest annual rally since 2005, as central banks around the world pledged to leave interest rates low. The Swiss Performance Index gained less than 0.1 percent today.

German consumer confidence will increase to 7.4 next month from 7 in November, according to research company GfK AG. The data topped the the median economist estimate that called for a December gain to 7.1 in a Bloomberg survey.

In the U.S., the final reading of the Thomson Reuters/University of Michigan November consumer sentiment index rose to 73.1 from a preliminary reading of 72, economists predicted. The data is due at 9:55 a.m. New York time.

Separate data may show that U.S. durable-goods orders fell 2 percent in October after rising 3.8 percent in the prior month, according to the median estimate of 79 economists in a Bloomberg survey.

To contact the reporter on this story: Jonathan Morgan in Frankfurt at

To contact the editor responsible for this story: Cecile Vannucci at

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