Swiss Shares Tip-Toe To Highest Since 2007

(RTTNews) - Swiss stocks inched up to fresh 7-year highs Thursday, after European Central Bank President offered hints about possible quantitative easing.

The ECB left interest rates on hold near zero and Draghi said policy marker are ready with more stimulus if inflation remains too low.

The Swiss Market Index rose 0.23 percent to 8,863.88, led by Richemont and ABB.

Swisscom fell 1.9 percent in Zurich. The company said profit increased for the nine-month period, amid a modest rise in revenues.

Zurich Insurance posted a 16 percent decline in third-quarter profits amid higher than expected tax charges. Shares slipped 2.1 percent.

The company also warned that the economic environment was getting tougher for insurers.

Dental implant maker Nobel Biocare dental implant maker reported strong quarterly profits and confirmed full-year guidance. The stock edged a bit lower.

Staffing giant Adecco said sales slowed in the third quarter. Shares fell 1.4 percent.

Chocolatier Barry Callebaut said its CEO is leaving at the end of the fiscal year in mid-2015. Shares rose 4.7 percent.