March 13, 2017 / 5:48 AM / 9 months ago

Swiss stocks - Factors to watch on March 13

ZURICH, March 13 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 8,663 points on Monday, according to premarket indications by bank Julius Baer .

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


Nestle’s Asia chief Wan Ling Martello told Schweiz am Wochenende that approval ratings in India for the company’s Maggi noodles dipped to 8 percent following reports of unsafe lead levels, but have since recovered to around 90 percent.

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ABB said suspected fraud in South Korea reduced 2016 net income by about $64 million, a case that prompted the Swiss electrical products company’s auditor to conclude it did not maintain effective internal controls over its financial reporting.

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The Swiss bank is moving about 1,000 jobs from Zurich to other regions of Switzerland as part of efforts to cut costs, NZZ am Sonntag reported, starting this year with a centre in the border town of Schaffhausen that will eventually include about 500 employees. UBS Americas President Tom Naratil said in an interview with Swiss radio that the he thought the “pendulum of higher capital requirements is probably ending”.

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Sixteen banks, including Credit Suisse, accused of colluding to rig South Africa’s rand currency could go before the Competition Tribunal to conclude the case in July, after a private pre-hearing was held on Friday, a source at the country’s Competition Commission said.

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The Swiss construction company’s German-speaking Swiss region manager, Christof Gaemperle, has been replaced, Swiss newspaper Schweiz am Wochenende reported. Andre Metral, previously head of western Switzerland, assumes responsibility for the whole country.


* Galenica will announce a floatation of its Sante pharmacy division on Tuesday, Swiss newspaper Finanz und Wirtschaft reported, citing people familiar with the talks.

* gategroup Holding AG said it has renewed agreements with Virgin Atlantic, extending its current contract which was set to expire in June 2017, to manage Virgin Atlantic’s onboard provisioning services, menu and service design concept and total food sourcing and distribution.

* Aevis Victoria SA said it took note of a report of the board of directors of LifeWatch regarding its public takeover offer, saying it regretted that the committee recommended to reject its offer. Aevis Victoria said it is “convinced that LifeWatch would benefit from the support of a reference shareholder with a strong presence in the healthcare sector”. Lifewatch had said it recommended its shareholders reject an offer from Aevis Victoria offer, saying it undervalued the company.

* Aryzta said first-half underlying net profit was down 22.4 percent at 109.4 million euros. The company also said its board of directors appointed an interim CFO, David Wilkinson, with immediate effect, and that CEO Owen Killian, CFO/COO Patrick McEniff and CEO Americas John Yamin will each depart ARYZTA on March 31.

* Helvetia Holding said it increased its underlying earnings in 2016 financial year by 12 percent to 492 million Swiss francs after tax. The company proposed a dividend of 21 francs per share.

* Belimo Holding said full-year net income was 69.8 million francs, up 24.1 percent year on year and that its board of directors proposes a dividend of 75 francs per share.

* Hochdorf Holding said full-year net profit was up to 19.406 million francs and that it proposes a dividend payment from capital investment reserves of 3.80 francs per share from 3.70 francs the previous year. Hochdorf also announced the launch of mandatory convertible securities.

* Axpo Holding said it was downsizing its board of directors from 13 to 9 members.


The Swiss National Bank is due to publish details of sight deposits at 0900 GMT.

Reporting by Zurich newsroom

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