October 7, 2013 / 5:11 AM / 4 years ago

Swiss stocks - Factors to watch on Oct 7

ZURICH, Oct 7 (Reuters) - Swiss stocks were seen virtually unchanged on Monday, while European shares were seen down, in the absence of any signs of progress towards resolving the standoff over the U.S. federal budget and debt ceiling.

The Swiss blue-chip SMI was seen opening flat at 7,941 points, according to premarket indications by bank Julius Baer.

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

NOVARTIS

Swiss drugmaker Novartis said its drug omalizumab was almost doubly effective in improving quality of life for patients with a severe form of hives, compared with a placebo, according to a late-stage study.

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COMPANY STATEMENTS

* Straumann said it had signed an agreements to purchase 51 percent of Medentika in Germany for a total price of 32 million euros, and a 30 percent stake in Spain’s Createch Medical.

* Evolva said it had signed a binding term sheet for the clinical development of EV-077, Evolva’s compound targeted at kidney disease caused by diabetes, with Serodus ASA . The parties aim to sign a full license agreement no later than 31 December 2013.

ECONOMY

SNB International Reserves and Foreign Currency Liquidity data due at 0700 GMT

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