Most Swiss Stocks Climb, Extending 4 1/2-Year HighCorinne Gretler
Most stocks in Switzerland rose, extending a 4 1/2-year high, as China’s economic growth accelerated for the first time in two years.
Credit Suisse Group AG, Switzerland’s second-biggest bank, advanced 0.8 percent. Transocean Ltd., the world’s largest offshore-rig contractor, added 1.7 percent. Von Roll Holding AG slid 5 percent after forecasting a “significant loss.”
The Swiss Market Index gained 0.1 percent to 7,435.07 at 9:29 a.m. in Zurich, as more than two shares increased for every on that fell. The gauge has rallied 9 percent in 2013. The broader Swiss Performance Index also rose 0.1 percent today.
The volume of shares changing hands in SMI-listed companies was 11 times higher than the average of the last 30 days, data compiled by Bloomberg showed.
China’s gross domestic product advanced 7.9 percent in the fourth quarter from a year earlier, the National Bureau of Statistics said in Beijing. That compared with the median economist estimate of 7.8 percent in a Bloomberg News survey and growth of 7.4 percent in the third quarter.
In the U.S., the Thomson Reuters/University of Michigan index of consumer confidence climbed to 75 this month from 72.9 in December, economists forecast before the report due at 9:55 a.m. New York time.
Credit Suisse rose 0.8 percent to 26.64 Swiss francs, following a gauge of European lenders higher. Julius Baer Group Ltd. added 2.2 percent to 37.14 francs.
Transocean climbed 1.7 percent to 52.25 francs as it estimated 2012 out-of-service time decreased by a net 15 days.
Von Roll plunged 5 percent to 2.09 francs after saying it sees a “significant loss” for 2012 from extraordinary expenses, delivery delays and difficult markets.
Zehnder Group AG slid 2.3 percent to 43 francs. Full-year sales in 2012 were 524 million euros ($701 million), compared with 515 million euros a year earlier. The company also said it sees net income 20 percent lower.