Reuters logo
Swiss stocks - Factors to watch on Nov 7
November 7, 2016 / 6:22 AM / a year ago

Swiss stocks - Factors to watch on Nov 7

ZURICH, Nov 7 (Reuters) - The Swiss blue-chip SMI was seen opening 0.9 percent higher at 7658 points on Monday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks.

UBS

The bank has completed most of the cost savings at its flagship wealth management division with around 400 positions eliminated, the unit’s president Juerg Zeltner said in an interview published on Saturday. “Due to the decline in earnings, we had to intervene on the costs side,” Zeltner told Swiss newspaper Finanz und Wirtschaft.

For more news, click

SIKA

Saint-Gobain remains committed to its deal to take over Sika by buying out the controlling stake held by the founding family of the Swiss firm despite a recent legal setback, the French company’s chief financial officer told Swiss newspaper Tages-Anzeiger.

For more news, click

EFG International

Its chief executive said BSI will benefit from the Swiss private bank’s know-how after it completed the takeover of the troubled bank, which has been punished for its links to the scandal-hit Malaysian state fund 1MDB.

For more news, click

COMPANY STATEMENTS

* Pargesa Holding said on Friday after markets closed that its net loss for the first nine months of 2016 was 313.6 million francs, from a profit of 514.3 million francs in the year-earlier period.

* Zurich Insurance Group will tell shareholders at its investor day on Nov. 17 it will keep its dividend at 17 Swiss francs, SonntagsZeitung reported on Sunday, citing unnamed sources.

* Alpiq tried in vain to give two nuclear power plants to French energy group EDF, SonntagsZeitung reported on Sunday, citing a confidential protocol.

* SGS said it has been awarded a two-year upstream services contract with DNO, the Norwegian oil and gas operator.

* Zehnder said it successfully completed its public share repurchase. The maximum of 250,000 registered shares A will be repurchased.

* Flughafen Zuerich said Lukas Brosi has been appointed the new chief financial officer.

* Actelion said its merit study with macitentan in patients with inoperable chronic thromboembolic pulmonary hypertension had met its primary endpoint of reduced pulmonary vascular resistance.

* Roche said it was initiating two phase III pivotal trials in melanoma based on results of studies combining targeted and immunotherapy treatment approaches.

* Molecular Partners said it has appointed Patrick Amstutz as acting CEO, after Christian Zahnd resigned due to health reasons.

* New Venturetec said its business year 2015/16 ended with a loss of $60.6 million, compared with a profit of $15.1 million in the year-earlier period.

ECONOMY

The Swiss Federal Statistics Office releases the consumer price index for October at 0815 GMT.

The Swiss National Bank releases currency reserves at 0800 GMT and sight deposits at 0900 GMT. (Reporting by Zurich newsroom)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below