BRUSSELS (dpa-AFX) - Swiss stocks rebounded Friday after getting pounded earlier in the week, as a European Central Bank official said policy makers will soon offer more stimulus.
Benoît Cœuré, a member of the European Central Bank's governing council, said Friday that the central bank was ready with quantitative easing if conditions warranted.
The Swiss Market Index added 2.39 percent to 8,250.10. Unlike most other European bourses, the SMI remains firmly positive year-to-date despite heavy losses in October.
Big banks snapped back, with Julius Baer up 4.3 percent, UBS adding 3.8 percent and Credit Suisse rising 2 percent.
Credit Suisse on Friday shook up its investment banking division, promoting two American investment bankers to lead the unit.
In other corporate news, Pharmacyclis said it had entered into an agreement with Roche to evaluate Imbruvica and Roche's Gazyva in combination in lymphoma and leukemia. Roche added 2.7 percent.
Novartis' new leukemia immune treatment led to the complete remission in 90 percent of patients, a study showed. Shares advanced 2.7 percent.
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