B o n hô te Fund Selection Quarterly report 3 rd Quarter 2014

29.10.2014 15:17 - Banque Bonhôte & Cie SA

B o n hô te Fund Selection Quarterly report 3 rd Quarter 2014

The euro finally yields to the dollar

Our assessment of stockmarkets' behaviour in the third quarter can be summed up as follows: they bided their time. In the US and Europe alike, their levels remained practically unchanged at the end of the reporting period. The Swiss benchmark was an exception, adding more than 3% to its gains. Two-thirds of this increase came thanks to Novartis and the rest from Roche nonvoting shares...

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