European news in brief
SNB resident Thomas Jordan: the central bank has no intention to change or scrap a franc ceiling of 1.20 versus euro.
Bundesbank: German economy grew strongly in Q2. More moderate growth expected in Q3.
Portugal: President Anibal Cavaco Silva earlier ruled out elections and gave support to Prime Minister Coehlo saying that “the government has the support of an unequivocal majority in parliament.”