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Swiss stocks - Factors to watch on Aug 10
August 10, 2017 / 5:49 AM / 4 months ago

Swiss stocks - Factors to watch on Aug 10

ZURICH, Aug 10(Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 9,020 points on Thursday, according to premarket indications by bank Julius Baer .

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

ZURICH INSURANCE

The group posted a 21 percent rise in second-quarter net earnings as it made strides in enacting a turnaround plan set out last year. Net profit for April through June rose to $896 million, beating even the highest estimate in Reuters poll of analysts that on average expected $790 million.

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ADECCO

The world’s largest temporary staffing company said positive hiring momentum had continued into the second half of 2017 as it reported second-quarter profit roughly in line with expectations.

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COMPANY STATEMENTS

* Kardex said its H1 revenue was up 4.8 percent at 178.6 million euros ($209.52 million). ]KARN.S]

* Basilea Pharmaceutica AG reported a ‍56 percent rise in first-half revenue and narrowed its net loss to 20.6 million Swiss francs ($21.33 million).

* Lastminute.com NV said first-half adjusted EBITDA nearly halved to 9.5 million euros from 17.3 million euros in the prior-year period.

* Ascom Holding AG and Dräger announced a partnership to deliver clinical alarm management solutions to healthcare providers.

* Peach Property Group AG said first-half rental income rose 61 percent to 6.8 million Swiss francs; the group more than quadrupled net profit to 16 million Swiss francs during first six months of 2017.

* Valiant Holding increased half-year profit by 1 percent to 52.2 million francs. For the full-year, it still expects profit on last year’s level.

* Arbonia AG expects full-year net revenue of around 1.3 billion francs EBITDA over 110 million francs after EBIT rose to 12.6 million francs and revenues rose to 624.4 million francs in the first half.​

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ECONOMY

* The franc traded around 1.1330 per euro at 0600 GMT. ($1 = 0.8524 euros) ($1 = 0.9657 Swiss francs) (Reporting by Zurich newsroom)

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