By Francesca Cinelli May 26 (Bloomberg) -- Swiss stocks advanced for the first session in five, led by luxury-goods makers as Burberry Group Plc reported higher earnings. Compagnie Financiere Richemont SA climbed 4.2 percent and Swatch Group AG, the biggest watchmaker, rose 3.6 percent. UBS AG and Credit Suisse Group AG gained 2.5 percent and 1 percent, respectively after U.S. Representative Barney Frank said a proposal to restrict banks’ use of derivatives “goes too far.” Meyer Burger Technology AG advanced 2.6 percent after winning a new order. The Swiss Market Index, a gauge of the biggest and most actively traded companies, rose 75.81, or 1.2 percent, to 6,167.36 as of 9:54 a.m. in Zurich, ending a four-session loss. The benchmark index has retreated 11 percent from this year’s high on April 15 over concern that Greece’s debt crisis will spread. The broader Swiss Performance Index gained 1.3 percent to 5,437.09 today. Compagnie Financiere Richemont, the world’s largest jewelry maker, surged 4.2 percent to 38.13 francs. Burberry Group Plc, the U.K.’s largest luxury company, reported a 23 percent gain in annual profit on increased sales of high-margin accessories and shoes, and said it plans to accelerate store openings this year. Pretax profit excluding some costs climbed to 215 million pounds ($310 million) in the year ended March 31, from 175 million pounds a year earlier, the London-based retailer said today. That beat the 202.5 million-pound median estimate of 18 analysts surveyed by Bloomberg. Swatch increased 3.6 percent to 294.1 francs. UBS, Credit Suisse UBS and Credit Suisse, Switzerland’s largest banks, gained 2.5 percent to 15.35 francs and 1 percent to 44.38 francs. U.S. Representative Barney Frank, who will lead congressional talks to produce a financial-regulation bill, said Senate language that would require commercial banks to wall off their swaps- trading operations “goes too far.” Meyer Burger Technology rose 2.6 percent to 23.7 francs. The maker of industrial cutting equipment won an order for wire saws worth more than 30 million francs ($25.8 million). VZ Holding AG increased 1.6 percent to 84.5 francs. Helvea lifted its recommendation on the financial adviser that specializes in retirement and inheritance planning to “buy” from “neutral,” saying in a note that “the core of the group’s offering is advice, rather than any specific product, and this should enable VZ Holding to be resilient in almost any market and economic conditions.” --Editors: David Merritt, Tim Farrand. To contact the reporter on this story: Francesca Cinelli in Milan at fcinelli@bloomberg.net. To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net. Sponsored Links

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