January 9, 2017 / 5:48 AM / 6 months ago

Swiss stocks - Factors to watch on Jan 9

3 Min Read

ZURICH, Jan 9 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent higher at 8444 points on Monday, according to premarket indications by bank Julius Baer .

The following are some of the main factors expected to affect Swiss stocks.

Ubs

The Swiss bank plans to raise its stake in its Chinese securities joint venture to 49 percent from about 25 percent, sources with direct knowledge of the development said.

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Roche

The pharma company said that U.S. regulators agreed to priority review of its Tecentriq immunotherapy for an additional type of bladder cancer, a boost to the Swiss drugmaker's bid to expand indications for the drug.

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Swiss National Bank

Switzerland's central bank expects to post a profit of more than 24 billion Swiss francs ($23.57 billion) for 2016, it said, as it logged big gains from its vast foreign currency holdings and its negative interest rate policy.

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Swiss watches

The head of LVMH's watch business Jean-Claude Biver is positive about the prospects for the Swiss watch industry in 2017, he said in an interview.

Company Statements

* Zurich Insurance is cutting 123 posts from its Swiss business and is not ruling out further cuts, Joachim Masur chief executive of the unit, said in an interview.

* Meyer Burger said it has been won contracts with a combined value of 20 million Swiss francs ($19.64 million) for the delivery and installation of the MAiA 2.1 technology platform.

* SGS said it has opened a new laboratory in Hai Phong, Vietnam, which will carry out physical and chemical testing services for the jewellery and candle-making industries.

* Galenica said its long-standing principal shareholder Sprint Investments has divested itself of its financial stake in full.

* Varia US Properties said Bank Vontobel , acting on behalf of the Company, has fully exercised the over-allotment option of its initial public offering of 464,562 new shares at the offer price of 35 Sfr per share. In total, 3,561,636 new shares were sold in the IPO of Varia.

* Also said it has acquired BeIP, a French IT network and security specialist distributor, for an undisclosed sum.

* Addex Therapeutics said ADX71441, a positive allosteric modulator of the gamma-aminobutyric acid subtype B receptor had demonstrated statistically significant efficacy in a highly translational preclinical model of chronic osteoarthritis pain.

Economy

* Swiss retail figures for November are published by the Swiss federal statistics office at 0815 GMT

* The Swiss National Bank releases sight deposit data at 0900 GMT.

$1 = 1.0182 Swiss francs Reporting by Zurich newsroom

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