July 20, 2017 / 5:49 AM / a month ago

Swiss stocks - Factors to watch on July 20

ZURICH, July 20 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4 percent higher at 9,056 points on Thursday, according to premarket indications by bank Julius Baer . The following are some of the main factors expected to affect Swiss stocks.

ABB

Swiss engineering company ABB reported a weaker-than-expected increase in quarterly net profit on Thursday as higher raw materials prices and overcapacity issues dampened higher orders and a strong performance by its robotics business.

GIVAUDAN

Fragrance and flavour maker Givaudan on Thursday said it was continuing to pass on price increases from raw material price inflation after its net profit rose 4.5 percent in the first half of 2017.

TEMENOS

Banking software supplier Temenos saw a 14 percent rise in second-quarter sales as pressure on banks to deliver digital products and clear regulatory hurdles boosted its business, it said on Wednesday.

GLOBAL BLUE

The owners of shopping tax-refund firm Global Blue have held talks with investment banks over the past two days to select advisers for a possible share sale next year, sources familiar with the matter told Reuters. The deal could value the Swiss firm at up to 3 billion euros ($3.46 billion), one of the sources said.

CREDIT SUISSE

A former Credit Suisse banker from Switzerland pleaded guilty on Wednesday to participating in a wide-ranging scheme to help Americans hide millions of dollars in offshore accounts to evade U.S. taxes. Susanne Rüegg Meier, a former manager with Credit Suisse, pleaded guilty in federal court in Alexandria, Virginia to conspiring to defraud the United States through her work heading of a team of bankers, the U.S. Justice Department said.

CLARIANT

Activist investor Keith Meister's Corvex hedge fund and New York's 40 North have raised their stake in Clariant beyond 10 percent, the Swiss chemicals maker said on Thursday.

BARRY CALLEBAUT

Barry Callebaut has agreed to purchase Italian family-owned specialties and decorations business D'Orsogna Dolciaria for an undisclosed sum. With three production facilities located in Italy, India and Canada, D'Orsogna Dolciaria saw revenues of roughly 52 million euros ($59.85 million) in 2016 and sales volumes of around 12,000 tonnes.

COMPANY STATEMENTS

* Basilea has completed a license agreement with Pfizer for antifungal Cresemba in Europe, Russia, Turkey and Israel.

* Bank Cler's half-year profit dropped to 18.8 million francs from 22.7 million francs in the first six months of 2016.

* Rieter Holding saw half-year net profit of 10.9 million francs.

* Bellevue Group on Tuesday reported preliminary profit after tax of nearly 10 million Swiss francs in the first six months of 2017, compared to nearly 3 million francs during the prior-year period.

* Oryzon Genomics said Roche had decided to discontinue clinical development of ORY-1001.

* Leclanche said it was working with Ecamion and SGEM to build and operate a network of 34 electric vehicle fast charging stations along the Trans-Canada Highway.

* Leonteq announces changes in the board of directors after Chairman Pierin Vincenz decided to step down at the earliest possible date.

* Panalpina reported H1 group gross profit down 9 percent at 673.1 million Swiss francs.

ECONOMY

* Switzerland's trade surplus narrow to 2.813 billion Swiss francs in June, data from the Federal Customs Office said. (Reporting by Zurich newsroom)

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