December 23, 2016 / 5:37 AM / a year ago

Swiss stocks - Factors to watch on Dec 23

ZURICH, Dec 23(Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent higher at 8255 points on Friday, according to premarket indications by bank Julius Baer .

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


The Swiss bank has agreed in principle to pay U.S. authorities $2.48 billion to settle claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis.

Credit Suisse will also provide $2.8 billion in consumer relief over five years from the settlement, it said in a statement, adding the deal was subject to negotiation of final documentation and approval by its board of directors.

“Credit Suisse will take a pre-tax charge of approximately $2 billion in addition to its existing reserves against these matters. This will be taken in our 4Q 2016 financial results,” it added.

Shares indicated up 2.4 percent in pre-market business.


The bank said it has wrapped up talks with U.S. justice officials on whether it helped wealthy Americans dodge taxes and does not have to pay a fine.

Cooperative group Raiffeisen said separately it also would pay no penalty after clinching a similar accord with the U.S. Department of Justice.


* Novartis AG says Alcon receives U.S. FDA approval for multifocal toric intraocular lens for cataract patients

* HNA said it has completed the settlement of the offer for Gategroup shares, and immediately following settlement of offer, Gategroup will apply to the SIX Swiss Exchange for delisting of Gategroup shares.

* Galenica AG says Vifor Pharma and Chemocentryx announce expansion of Kidney Health Alliance to include CCX140 to treat renal diseases

* Santhera Pharmaceuticals Holding AG says Raxone designated promising innovative medicine and suitable candidate for further evaluation under U.K. Early Access To Medicines Scheme (EAMS) for treatment in duchenne muscular dystrophy

* VAT Group AG says Juergen Krebs to join VAT Group as new chief operating officer from July 1


Switzerland’s leading KOF economic barometer for December is due at 0800 GMT (Reporting by Zurich newsroom)

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