August 11, 2017 / 4:51 AM / 7 days ago

Swiss stocks - Factors to watch on Aug 11

ZURICH, Aug 11 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent lower at 8,925 points on Friday, according to premarket indications by bank Julius Baer .

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

UBS

The Swiss bank on Friday announced the return of its former banker David Chin as the new head of its Asia Pacific corporate client solutions business, which covers investment banking, according to an internal memo seen by Reuters.

For more click

Credit Suisse

The Swiss bank has barred transactions involving certain Venezuelan bonds and is requiring that business with Venezuela's government and related agencies undergo a reputation risk review, according to an internal memo seen by Reuters.

For more click

COMPANY STATEMENTS

* Schmolz & Bickenbach said it raised its 2017 adjusted EBITDA outlook after a "solid second quarter" in which demand remained robust in most product groups, customer industries and regions.

* SHL Telemedicine said Nehama & Yoram Alroy Investment Ltd. and Elon Shalev, an SHL co-founder, have lodged a complaint regarding the potential duty of some large investors to make a tender offer of 8.70 francs per share, prompting a proceeding by the Swiss Takeover Board.

* Daetwyler said first half net profit fell to 53.3 million Swiss francs from 56.6 million francs, dented by restructuring costs. For the second half, it said the adjusted EBIT margin should end up within the upper half of the 11 percent-to–14 percent target range.

* Conzzeta said it is selling its stake in its U.S. Woodbridge Foampartner joint venture, with the transaction closing per July 1 to produce a single-digit million gain. For the full year 2017, it sees improved growth and a 7.5 percent EBIT margin.

* VZ Holding said first half net profit was 44.2 million francs, up 9.3 percent, as it plans to boost its dividend for 2017.

ECONOMY

The Swiss franc has gained about 1.3 percent against the dollar so far this week as U.S. President Donald Trump ratcheted up his rhetoric against North Korea and its leader. (Reporting by Zurich newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below