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Swiss stocks - Factors to watch on July 26

Stocks

   

ZURICH, July 26 | Tue Jul 26, 2011 11:57am IST

ZURICH, July 26 (Reuters) - Swiss shares were set to open slightly lower on Tuesday, bucking the trend elsewhere in Europe and in Asia, with index heavyweight UBS (UBSN.VX) seen falling after it admitted it would miss targets set in 2009.

The blue-chip SMI .SSMI was expected to open 6 points lower at 6,011 points, pre-market data provided by bank Clariden Leu showed.

The following are some of the main factors expected to affect Swiss stocks on Tuesday:

UBS (UBSN.VX)

Swiss bank UBS said it would slash costs as it admitted it would miss targets set in 2009 after reporting disappointing second quarter profits hurt by sluggish markets and a strong franc.

For related news, click on [UBSN.VX]

ADECCO (ADEN.VX)

Adecco, the world's largest staffing company, said it would buy U.S.-based Drake Beam Morin for an enterprise value of 149 million euros in a bid to improve its career transition and development business.

For related news, click on [ADEN.VX]

COMPANY STATEMENTS [CPR-CH]

* Sika (SIK.S) posted a 6.6 percent increase in sales in the first half of 2011, achieving net sales of 2.2 billion Swiss francs.[SIK.S]

* Weatherford International WFT.VX reported second quarter 2011 income of $126 million.[WFT.VX]

ECONOMY [M-CH]

* The UBS Swiss consumption indicator fell to 1.48 in June, its lowest level thus far this year, the Swiss bank's economists said on Tuesday. ECONCH

FOR COMPANIES TRADING EX-DIVIDEND, PLEASE CLICK ON:

.EX.S for all Swiss stocks

.EXSMI.S for blue chips

.EXNSMI.S for other stocks

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