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Swiss stocks - Factors to watch on Feb 5
February 5, 2015 / 5:49 AM / 3 years ago

Swiss stocks - Factors to watch on Feb 5

ZURICH, Feb 5 (Reuters) - Swiss stocks were expected to open lower on Thursday, in line with European shares, after the European Central Bank (ECB) cancelled its acceptance of Greek bonds in return for funding.

The Swiss blue-chip SMI was seen opening 0.7 percent lower at 8,546 points, according to premarket indications by bank Julius Baer.

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

ABB

The engineering group reported on Thursday a smaller-than-expected rise in quarterly profit, blaming an appreciation of the U.S. dollar and warning that the negative currency effect was likely to continue this year.

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Swisscom

The telecoms group said on Thursday its operating profit would decline this year, hit by the strong Swiss franc, higher pension costs and lower gains on the sale of real estate.

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Swatch

The Swiss watchmaker said on Thursday it was in a “strong position” despite an overvalued Swiss franc and a fall in its net profit last year.

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UBS

U.S. federal prosecutors have launched a new probe into whether Swiss bank UBS AG helped Americans evade taxes through investments banned in the United States, the Wall Street Journal reported, citing people familiar with the investigation.

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COMPANY STATEMENTS

** Bank Coop said its 2014 operating income remained stable at 244 million Swiss francs ($263.93 million).

** Basler Kantonalbank said it has changed the way it calculates risk provisions to be in line with the standard accounting practices of other Swiss banks.

** Emmi reported 2014 sales that rose to 3.4 billion Swiss francs from 3.3 billion a year earlier.

** Energiedienst Holding AG said its 2014 net profit fell to 56 million euros ($63.5 million) from 79 million euros, citing lower energy prices.

** Liechtensteinische Landesbank reported a 35 percent jump in 2014 net profit to 72 million Swiss francs.

** Valora Holding said it expected to post 45-50 million Swiss francs in 2015 operating profit from continuing operations, based on parity of the euro and the Swiss franc.

ECONOMY

The Swiss government warned on Thursday that the appreciation of the country’s currency meant economic growth would be weaker than previously expected but said it was still too difficult to assess how severe the slowdown would be.

$1 = 0.8817 euros $1 = 0.9245 Swiss francs

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