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Swiss stocks - Factors to watch on Aug 27
August 27, 2013 / 6:33 AM / 4 years ago

Swiss stocks - Factors to watch on Aug 27

ZURICH, Aug 27 (Reuters) - Swiss stocks are shaping to open lower on Tuesday, in line with other European exchanges as weak durable goods order data from the United States overnight weighs on market sentiment.

The Swiss blue-chip SMI was seen opening 0.6 percent lower at 7,978 points, according to premarket indications by bank Julius Baer.

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


UBS Financial Services Inc of Puerto Rico on Monday prevailed in a legal battle over a shareholder derivative lawsuit filed by pension plans in Puerto Rico, when the U.S. Supreme Court formally dismissed the case.

A unit of UBS AG will pay nearly $4.6 million to settle allegations by multiple state securities regulators that unregistered sales assistants accepted clients’ orders to buy and sell securities, New Jersey’s highest law enforcement agency announced.

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Europe’s largest biotech company, said on Tuesday its chief financial officer Andrew Oakley would be leaving the company next week to focus on opportunities outside the company.

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The Swiss agrochemicals group said on Tuesday it had submitted a legal challenge to the European Commission’s decision to suspend the use of a pesticide on crops pollinated by bees.

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Zurich Insurance Group said on Monday its chief financial officer (CFO), Pierre Wauthier, had been found dead at his home in the Swiss canton of Zug, just over 30 kilometres (20 miles) from Zurich.

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Switzerland will decide soon on whether to keep pursuing a tax agreement with the United States, an outgoing top diplomat said on Monday, or risk extending a long, costly dispute over banks that shelter tax evaders.

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* VP Bank reports net profit of 28.3 million Swiss francs for H1 2013.

* Schmolz + Bickenbach AG says the Swiss Takeover Board has rejected a request of Gebuka AG to amend the offer prospectus of Venetos Holding AG, a subsidiary of Russian tycoon Viktor Vekselberg’s investment vehicle Renova.

* SHL Telemedicine announces a further expansion of its telemedicine services in the Indian healthcare market.

* Leclanche appoints Jim Atack as Chairman of the Board

* Airesis a decline in Le Coq Sportif’s turnover of 14 pct in the first half was partially compensated by a growth of 11 percent in Boards & More turnover.

* Compagnie Financiere Tradition said underlying operating margin rose to 91 pct from 7.4 pct in H1, net profit group share up 66.6 pct to 21.5 mln Sfr.

* Tamedia, the Swiss media group, is exercising its right of first refusal and will take over the majority interest in Ziegler Druck- und Verlags-AG.


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