ZURICH, May 16 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 9,099 points on Tuesday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
Singapore sovereign wealth fund GIC Private Limited, which invested in UBS to support it during the 2008/09 global financial crisis, said it has cut its stake in the Swiss bank at a loss, partly because of changes in the lender’s strategy and business.
Sources say placement was at 16.10 Swiss francs each versus Monday close at 16.61.
Shares indicated down 1.1 percent in pre-market trading.
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Full-year 2016/17 net profit 356 million Swiss francs, in line with market expectations.
Says consolidated sales anticipated to grow by 10% to 12% and normalized EBITA to rise by 10% to 14% in local currencies
The bank has promoted Andy Lipsky and David Wah to co-heads of investment banking and capital markets in the Americas, according to an internal memo seen by Reuters and confirmed by a spokesman.
* Basler Kantonalbank says price range for placement of participation certificates at CHF 66-72 apiece
* Kuros Biosciences AG prepares for commercialization of its lead products and considers raising up to 0 million francs vis share placement
* Vifor Pharma (IPO-VIFP.S) and Akebia announce exclusive license agreement to provide Vadadustat to Fresenius Medical Care in the u.s. upon FDA approval
* Credit Suisse Group announces the repurchase of its CSLS ETNS and the acceleration of its CSCR and FIBG ETNs
* Orascom Development Holding Q1 net loss attributable to shareholders amounted to CHF 13.2 million versus a net loss of CHF 26.4 million in Q1 2016
* HBM Healthcare Investments proposing an increase in the cash dividend of 30 centimes, to CHF 5.80 per share fy net profit of CHF 136.8 million versus CHF 23.8 million year ago
* Actelion Ltd says Johnson & Johnson has appointed Jane Griffiths as global head of Actelion, to take effect upon closing of transaction
* Implenia said Stig Ingar Evje, CEO of Implenia Norway, has been missing since May 3 after failing to return from a hike. Rescue services have called off their search. Tone Bachke, CFO of Implenia Norway, is taking over management of the Norwegian unit until further notice.
Reporting by Zurich newsroom