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Swiss stocks - Factors to watch on March 24
March 24, 2017 / 5:40 AM / 6 months ago

Swiss stocks - Factors to watch on March 24

ZURICH, March 24 (Reuters) - The Swiss blue-chip SMI was seen opening 0.09 percent down at 8,621 points on Friday, according to premarket indications by bank Julius Baer .

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

SYNGENTA

EU antitrust regulators are set to clear the $130 billion Dow Chemical and DuPont merger and ChemChina’s $43 billion bid for Syngenta next week, people familiar with the matter said on Thursday.

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CREDIT SUISSE <CSGN.S.

The Swiss bank said on Friday in its annual report that it paid CEO Tidjane Thiam 11.9 million Swiss francs ($11.95 million) in 2016, up from 4.57 million in 2015. The Zurich-based bank hiked its full-year loss to 2.71 billion Swiss francs, from 2.44 billion previously reported, after reaching a tentative deal over residential mortgage backed securities.

Credit Suisse is considering a quickfire share sale -- rather than pursuing a separate listing for its Swiss banking division -- two sources close to the matter told Reuters on Thursday, in a move that could raise 3 billion Swiss francs.

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SWATCH RICHEMONT

Swiss watchmakers expect the market to stay challenging this year with the United States, their second-biggest market, showing no signs of recovering, executives told Reuters at an industry fair in Basel.

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COMPANY STATEMENTS

* Dufry said its subsidiary Hellenic Duty Free Shops and Fraport Greece signed a 30-year contract covering 14 Greek airports.

* SHL Telemedicine said Elon Shalev was elected by the board to serve as chairman.

* Roche said FDA grants breakthrough therapy designation for Rituxan in Pemphigus Vulgaris, in which the immune system produces antibodies in the skin and mucous leading to painful blisters.

* Interroll said it boosted net profit by nearly 24 percent to 36.2 million Swiss francs.

* EFG International said Franco Polloni has been appointed head of central Switzerland, Ticino & Italy region. He replaces Renato Santi, who will leave EFG after the legal integration of BSI’s Swiss business.

* Adval Tech Holding AG said FY total income was 227.1 million Swiss francs, slightly up from 224.3 million francs in 2015.

* Cosmo Pharmaceuticals NV said FY profit after tax was 19.3 million euros ($20.78 million), less than 2015 results of 248.2 million francs, a figure primarily driven by a gain on sale of Cassiopea shares.

* Galenica said it plans to publish details of its planned Sante IPO on Friday after the stock market closes.

ECONOMY

SWISS NATIONAL BANK

The Swiss central bank is looking at ways to diversify the vast foreign currency assets it built up during its campaign to rein in the highly valued Swiss franc, SNB Governing Board member Andrea Maechler said on Thursday.

Argentina: Demand for Swiss franc bonds exceeded amount sold

Argentine Finance Minister Luis Caputo said demand for Swiss franc bonds had exceeded the 400 million Swiss francs ($402.94 million) the country sold on Thursday, and that the timing of a return to the global bond markets would depend on the advice of banks. ($1 = 0.9289 euros) ($1 = 0.9954 Swiss francs) (Reporting by Zurich newsroom)

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