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Swiss stocks - Factors to watch on Dec 7
December 7, 2016 / 6:29 AM / a year ago

Swiss stocks - Factors to watch on Dec 7

ZURICH, Dec 7 (Reuters) - The Swiss blue-chip SMI was seen opening 0.8 percent higher at 7,975 points on Wednesday, according to premarket indications by bank Julius Baer.

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

CREDIT SUISSE

Credit Suisse on Wednesday announced more than 1 billion Swiss francs ($991 million) in extra cost cuts, as Chief Executive Tidjane Thiam tries to compensate for challenging conditions which have so far hampered his restructure of the Swiss lender.

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COMPANY STATEMENTS

* Lonza has entered into an agreement to sell its peptides business and operations in Braine-l‘Alleud, Belgium to PolyPeptide Group.

* Novartis said its eye medicine Lucentis received EU approval in a new indication, treating patients for visual impairment due to choroidal neovascularization associated with causes other than neovascular age-related macular degeneration (or secondary to pathologic myopia.

* Nearly 76 percent of Charles Voegele’s shares were tendered into an offer by Sempione Retail.

* Comet Group appointed Rene Lenggenhager its new CEO as of May 2017. Current CEO Ronald Fehlmann will be leaving the group by the end of April.

* Meyer Burger Technologies on Wednesday announced Swiss industrial and investment holding Brustorm SA had committed to purchase up to 16 million unsubscribed shares for 5.76 million francs, subject to certain conditions.

Reporting by Zurich newsroom

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