Swissquote shares rise to highest level since early August

Shares of Swissquote Group Holding SA (SWX:SQN), Switzerland’s leading online broker, began December on a strong note rising 3% on Tuesday, to hit their highest level in about four months, since early August.

Swissquote shares took a bit of a hit in late July after reporting somewhat disappointing first half 2015 results, which included a CHF 20 million ($20.6 million) after-tax hit the company took due to negative client balances from the Swiss Franc spike event, although Swissquote had previously disclosed the writeoff to investors.

Although no news on finances is expected from Swissquote until early 2016, it seems as though investors are getting back on the Swissquote bandwagon. Swissquote shares have made up a good part of the loss they took after the 1H results were announced.

Swissquote share price Dec 2015

Swissquote share price, past 3 months. Source: Google Finance.

Swissquote continues to focus on building market share and taking the Swissquote brand outside of Switzerland, such as Swissquote’s sponsorship deal with Manchester United and expanding in Malta.

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