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Swiss stocks - Factors to watch on Feb 28
February 28, 2017 / 6:00 AM / 7 months ago

Swiss stocks - Factors to watch on Feb 28

ZURICH, Feb 28 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 8,527 points on Tuesday, according to premarket indications by bank Julius Baer .

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

BALOISE

The Swiss insurance group has joined forces with digital financial services venture capital and advisory firm Anthemis Group to invest in insurance and risk management technology startups, the latest sign of large, traditional insurers seeking to become more tech-savvy.

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ABB

EU antitrust regulators cleared on Monday Danish company NKT Cable’s 836-million-euro ($887.9 million) bid for Swiss power and automation company ABB’s high-voltage cabling business.

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COMPANY STATEMENTS

* OC Oerlikon reported a 6.7 percent drop in Q4 sales and an 10.6 percent increase in orders to 447 million Swiss francs ($443.94 million).

* Georg Fischer reported FY net profit up 14 percent at 225 million Swiss francs, and proposed increasing its dividend to 20 francs per share, up from 18 francs.

* Looser Holding said its integration into the Arbonia group of doors and industrial services segment is well advanced as it reported a drop in consolidated net income to 8.8 million Swiss francs.

* Banque Cantonale Vaudoise said Jacques De Watteville is to succeed Olivier Steimer as its chairman.

* Straumann said it will no longer pursue its plans to invest in or partner with South Korean dental implant company MegaGen Implant Co., Ltd.

* Swissgrid said Joerg Spicker, Head of Market and member of the Executive Board, has decided to stand down from the Executive Board of the company with effect from the end of May 2017 for family reasons.

* Orior reported an 11 percent increase in net profit to 28.4 million Swiss francs, supported by a successful acquisition in Belgium and a good performance in its domestic market.

* APG SGA said its FY2016 net income rose by 0.8 percent to 52.6 million Swiss francs.

* Allreal Holding said net profit including revaluation gains for the 2016 financial year amounted to 173.6 million Swiss francs ($172.34 million - the highest profit ever reported in the company’s history.

* Valora said its FY gross profit rose 2.9% to 870 million Swiss francs ($864.30 million) on external sales of 2.6 bln Swiss francs.

* Jungfraubahn Holding said it achieved FY traffic income of 126 mln Swiss francs.

* Banque Cantonale de Geneve reported net profit of 79 million Swiss francs in 2016 and said it expects stable operating profitability in 2017.

* Bellevue Group said its FY operating profit fell 41 percent to 14.5 million Swiss francs.

* Cham Paper Group said it 2016 net revenue of about 198 million Swiss francs and said FY net income is expected to reach about 8 million francs.

* Addex Therapeutics said it has completed 2016 with cash and cash equivalents of 1.4 million Swiss francs.

ECONOMY

Switzerland’s leading KOF economic barometer is due to be published at 0800 GMT. ($1 = 1.0069 Swiss francs) (Reporting by Zurich newsroom)

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