No major movements experienced in any of the Swiss pair mainly due to lack of economic releases this week. Against the dollar, Franc continued to range trade.
[B]Plane Trying to Break Aviation Record Crashes in Switzerland:[/B]
An attempt to break an aviation speed record went horribly wrong Monday when a small ``experimental’’ plane crashed through an apartment building in the Swiss city of Basel, killing the pilot and lightly injuring six other people.
Source: The Hindu
[B]Swiss Seek EU Protection For The Cheese Without A Hole:[/B]
Switzerland has asked the neighboring European Union to grant protected status to its best known hole-less cheese, gruyere, after France made a similar bid for French-made chesses bearing the same name and holes. The official label ensures that only cheeses produced in a particular geographical area in a specific way can carry that name.
[B]Swiss Ski Resort Welcomes Top Beach Athletes:[/B]
The Swiss mountain resort of Gstaad will this week host the beach volleyball world championships for the first time, the official Swissinfo website reported on Monday. The event, which will begin on Tuesday and finish on Sunday, is expected to draw more than 100,000 spectators to Gstaad to see the 48 men’s and women’s teams competing for 1 million U.S. dollars in prize money, according to the report.
People’s Daily Online - Swiss ski resort welcomes top beach athletes
No major movements experienced in any of the Swiss pair mainly due to lack of economic releases this week. Against the dollar, Franc continued to range trade. Fed presidents Poole?s comments might give some pace to the pair. As of 12.00 EST USDCHF was trading at 1.2045.
[B]Equity Market: Swiss Market Index:[/B]
The Swiss stock market ended the day in the negative territory as Lehman said that the world?s largest maker of dental implants, Biocare, will have weaker sales growth in the second quarter. The Swiss market index was down 0.77 percent to 9047.68. Julius Baer was also under pressure, dropping 2 percent to 87.85, ahead of reporting first half results on Friday, while larger rival Credit Suisse fell 1.4 percent to 83.85. In pharmaceuticals, Roche was 1.00 franc lower at 215.80 while Novartis closed flat at 66.05.
[B]Fixed-Income Market: 10-Year Swiss Government Bonds:[/B]
Swiss government bonds ended flat showing uncertainty in the market. The yield on the 10-year bonds closed at 3.15 percent for the day.