Michael Foeth News
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Swiss stocks advanced as data showed the U.K. economy avoided a triple-dip recession, offsetting worse-than-estimated results from Logitech International SA.
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Panalpina Welttransport Holding AG soared the most in more than four years after saying Peter Ulber will succeed Monika Ribar at the helm of the Swiss freight- forwarding company.
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Swiss stocks rose, snapping two days of losses, as Cyprus and euro-area finance ministers agreed on a rescue package, dodging the risk of a default and an exit from the currency union.
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Meyer Burger Technology AG, the Swiss supplier of machinery to solar panel-makers, fell the most in a week after saying it would sell 150 million francs ($159.5 million) of shares to existing holders to shore up finances weighed down by declining sales.
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Stocks in Switzerland declined, with the benchmark Swiss Market Index snapping three days of gains, as growth in China’s services industry slowed.
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Micronas Semiconductor Holding AG, which sells computer chips for Volkswagen AG cars, declined the most in almost 12 months after the Zurich-based company reported a gloomy outlook for this year.
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Stocks in Switzerland declined, with the benchmark Swiss Market Index snapping three days of gains, after China tightened mortgage rules to rein in real-estate prices.
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Logitech International SA said Bracken P. Darrell will succeed Guerrino De Luca as chief executive officer next year as the world’s biggest maker of computer mice seeks to revamp its products.
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Logitech International SA jumped the most in more than four years as earnings beat estimates and the world’s biggest maker of computer mice announced measures including job cuts to save about $80 million a year.
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Austriamicrosystems AG rose to the highest price in more than four years in Zurich after the Austrian chipmaker raised its sales forecast a second time this year as consumers buy more smartphones and tablet computers.
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