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Swiss market closes up 4.36pc after currency peg announcement

ZURICH : Swiss stocks closed up 4.36 percent to 5,367.24 points on Tuesday after the Swiss National Bank announced a
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By Imad Uddin
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ZURICH: Swiss stocks closed up 4.36 percent to 5,367.24 points on Tuesday after the Swiss National Bank announced a currency peg of 1.20 francs per euro.

Pharmaceutical giant Novartis led the rise, closing up 6.79 percent to 47.47 francs per share. The Swiss franc fell sharply, closing down 8.48 percent to 1.2027 francs per euro.

 

Copyright AFP (Agence France-Presse), 2011

 

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