Swiss Stocks Rise, Monti Says Most Leaders Pro Euro Bonds - Bloomberg Swiss Stocks Rise, Monti Says Most Leaders Pro Euro Bonds - Bloomberg

Friday, May 25, 2012

Swiss Stocks Rise, Monti Says Most Leaders Pro Euro Bonds - Bloomberg

Swiss Stocks Rise, Monti Says Most Leaders Pro Euro Bonds - Bloomberg

Swiss stocks rose, as the benchmark Swiss Market Index (SMI) headed for its first weekly advance in a month, as Italy’s Prime Minister Mario Monti said that most European Union leaders support joint bonds for the euro area.

The Swiss Market Index gained 0.4 percent to 5,876.98 at 11:07 a.m. in Zurich, bringing this week’s increase to 1.4 percent. The gauge has still retreated 1 percent this year amid concern Greece may fail to implement austerity measures and leave the euro currency union. The broader Swiss Performance Index also climbed 0.4 percent today.

The volume of shares changing hands in SMI-listed companies was 9.9 percent lower than the average of the last 30 days, according to data compiled by Bloomberg.

Monti told Italian television station La7 yesterday that the majority of EU leaders at a Brussels meeting this week backed joint euro-area bonds. He added that Italy can help persuade Germany to support Europe’s “common good” as well.

“Europe can have euro bonds soon,” Monti said. Germany has an interest in ensuring no country leaves the euro, while Greece will probably remain in the 17-nation currency, he said in the interview.

Monti’s comments followed a meeting on May 23 when leaders clashed over joint debt sales as they called on Greece to stick with budget cuts needed to stay in the euro.

Swiss Re Ltd., the biggest Swiss reinsurer, rose 1.4 percent to 55.55 francs as insurance companies rose the most of any industry group in the Stoxx Europe 600 Index. (SXXP)

Julius Baer Group Ltd. (BAER), the Swiss wealth manager founded in 1890, added 0.3 percent to 31.17 francs. Berenberg Bank began coverage of the stock advising clients of buying the stock and set a target estimate of 35.90 francs.

To contact the reporter on this story: Peter Levring in Copenhagen at

To contact the editor responsible for this story: Andrew Rummer at

Financial lessons an education for Kidderminster school pupils -

Financial lessons an education for Kidderminster school pupils

WYRE FOREST’S MP found himself back at school as he joined students from King Charles I School in Kidderminster for a financial education lesson.

Conservative Mark Garnier, who has spoken to Prime Minister David Cameron about the benefits of making financial education compulsory in the school curriculum, saw how interactive white boards turned into working ATMs and giant cheques appeared as the school’s year 8 pupils learnt about the basics of banking, thanks to NatWest’s MoneySense for Schools programme.

Watched by the MP, teacher Chris Gibson, together with NatWest’s Kim Whitehouse, took the pupils through interactive exercises to help them understand more about what banks do, including how cheques and paying-in slips work and the practical tasks of balancing statements and using ATMs.

Ms Whitehouse, said: “Financial education for young people is more important today than it has ever been. It is essential that they start to understand about money management and bank accounts as soon as possible.”

Mr Garnier said: “Financial education is something that must be put on to the curriculum but until it is, it is incredibly important that financial organisations engage with schools to help ensure the next generation is financially literate.”

Chris Gibson, leader of King Charles I Lower School, said: “It was a pleasure having Mark with us and to show him how we are helping our students understand money.

“The students have really enjoyed and benefited from the activities. It’s very important that they gain basic money management skills and the NatWest MoneySense tools are an extremely practical and fun way of doing this.”


FlipC - The Mad Ranter says...
9:09am Fri 25 May 12

I'd have liked to have sat in on the part about "what banks do" should have been enlightening. Was there any notes on 'Why banks can charge you £20 to send you a letter' or 'Debt! Why banks love you to be in it'? FlipC - The Mad Ranter

Stephen Brown says...
10:28am Fri 25 May 12

Indeed FlipC, or charge £25 for an electronic payment such as an international one that actually costs 1pence. At the same time the financial institutions here oppose a very small (0.1% yes 0.1%!!) transaction tax (robin hood tax) targetted at high frequency traders (like hedge fund managers i.e. Mark and his mates), which would raise £8.4billion (UK estimate per year) and help us out of this current crisis and be offset against the worst of the cuts. No, instead our banker friends want to reap the benefits of globalisation that lets them push capital around the world, escape any consequences for their actions, make a mint then get bailed out when they get too greedy. Go tell that to the kids and that might just be the sort of education they would benefit from. Then devise a school curriculum that actually deals with proper financial mangement, looking after your money and avoiding those that would rob you blind. Stephen Brown

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