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News Link • Economy - International

UPDATE: SNB Intervention Welcomed By Market As Swiss Stocks Rise


-- Strong market gains purely down to SNB action

-- Exporters and cyclicals gain the most

-- But long-term fears about global economy remain

ZURICH (Dow Jones)--Swiss stocks rallied strongly Tuesday following the Swiss National Bank's intervention to set a cap on the franc's exchange rate against the euro.

The benchmark Swiss Market Index recovered most of the losses it suffered on Monday as investors reacted warmly to the news the SNB would defend Swiss exporters by preventing the franc rising above CHF1.20 against the Euro.


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