May 12, 2017 / 4:43 AM / 4 months ago

Swiss stocks - Factors to watch on May 12

ZURICH, May 12 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent firmer at 9,072 points on Friday, according to premarket indications by bank Julius Baer .

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

RICHEMONT

Cartier owner Richemont said it expects the trading environment to stay volatile after net profit slid more than the market expected but sales growth picked up towards the end of its fiscal year to March.

It also announced a new share buyback.

For more news see

NESTLE, LINDT

Five major chocolate and candy companies including Nestle and Lindt & Spruengli announced a joint commitment to reduce calories in many sweets sold on the U.S. market, a rare example of cooperation in a competitive industry and testament to a rising consumer distaste for sugar.

COMPANY STATEMENTS

* Cosmo Pharmaceuticals N.V. said it filed for arbitration against Santarus Inc and Valeant Pharmaceuticals Ireland, alleging breach of contract and seeking termination of the corresponding license and supply agreements and transfer of the Uceris marketing authorization to Cosmo.

* SGS SA to start share buyback worth up to 250 mln Sfr on May 15.

* PSP Swiss Property AG FY 2017 EBITDA forecast confirmed; lower vacancies expected for year-end 2017

* Molecular Partners AG says Patrick Amstutz appointed as chief executive officer.

* Newron Pharmaceuticals S.p.A. said it received milestone payments of 11.3 million euros linked to the approval of its lead compound safinamide for the treatment of Parkinson’s disease by the US Food and Drug Administration.

* Also Holding AG said Schindler Group’s share in it had fallen below 3 percent.

* Flughafen Zuerich said that 15.2 percent more passengers traveled through the airport in Switzerland’s banking hub in April, compared to the previous year. The number of local passengers rose by 13.3 percent, the airport said.

And finally:

FC Basel’s dominance of Swiss football, aided by lucrative revenue streams from Champions League appearances, has forced the country’s domestic league to explore new formats that might make the season less predictable.

ECONOMY

Reporting by Zurich newsroom

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