December 8, 2016 / 6:28 AM / a year ago

Swiss stocks - Factors to watch on Dec 8

ZURICH, Dec 8 (Reuters) - The Swiss blue-chip SMI was seen opening 0.6 percent higher at 7,977 points on Thursday, according to premarket indications by bank Julius Baer .

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

EFG International

The Swiss private bank said on Thursday it expects to cut up to 450 jobs between 2017 and 2019 as it laid out planned savings from its newly acquired BSI Bank.

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Varia US Properties AG

The real estate company that lists on Thursday on SIX Swiss Exchange said it had seen strong demand for its shares, resulting in an issuance and placement volume of 124.7 million Swiss francs and implying a market capitalization for Varia of 233.1 million francs.

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The Swiss pharma company said it had positive results from the first large-scale study on its Ultibro Breezhaler for patients suffering from moderate chronic obstructive pulmonary disease (COPD).

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The Swiss drugmaker said the European Commission granted conditional marketing approval for Venclyxto (venetoclax) for certain patient categories suffering from chronic lymphocytic leukaemia (CLL).

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* Oerlikon said it signed an agreement for a new, unsecured Syndicated Revolving Credit Facility amounting to 600 million Swiss francs.

* Syngenta : Handelszeitung reports that former Syngenta CFO and CEO ad interim John Ramsay will take up a position as an adviser to Chinese chemicals group ChemChina that has offered to buy Syngenta for $43 billion.


* Switzerland’s far-right Swiss People’s Party (SVP) threatened to launch a new popular vote to end the free movement of people between Switzerland and the European Union if immigration rises further, as it expects it to under new proposed legislation.

Reporting by Zurich newsroom

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