SNB reports strong first half of 2019

The Swiss National Bank (SNB) reported a profit of CHF 38.5bn for the first half of 2019. The profit on foreign currency positions amounted to CHF 33.8bn. A valuation gain of CHF 3.8bn was recorded on gold holdings. The SNB's financial result depends largely on developments in the gold, foreign exchange and capital markets. Strong fluctuations are therefore to be expected, and only provisional conclusions are possible as regards the annual result. Interest and dividend income totalled CHF...