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Swiss stocks - Factors to watch on Feb. 20
February 20, 2017 / 5:45 AM / 10 months ago

Swiss stocks - Factors to watch on Feb. 20

ZURICH, Feb 20 (Reuters) - The Swiss blue-chip SMI was seen opening 0.12 percent higher at 8517 points on Monday, according to premarket indications by bank Julius Baer .

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


The pharmaceuticals company said a combination of its immunotherapy drug Tecentriq and its blockbuster cancer drug Avastin had shown encouraging results in a Phase II trial in treating a type of kidney cancer.

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The world’s biggest staffing group will move its headquarters from near Zurich airport to the centre of the city this year, newspaper SonntagsZeitung quoted a spokesman as saying. The new site is cheaper than the current one, the newspaper added.

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The elevator and escalator company should decide this year whether to set up its own unit in Iran, where it currently works with a distributor, Chief Executive Thomas Oetterli told SonntagZeitung. The decision depends on the political situation, which is difficult to predict, he said.

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* Also Holding said its free float increased to 48.7 percent, from 41.1 percent, due to the ongoing exchange of ALSO shares relating to the exchangeable bond issued by a Schindler.

* Burckhardt Compression said it will introduce shortened working hours in March for 200 of its 700 employees at its Winterthur plant after weak order intake for its compressor manufacturing business did not improve.

* UBS said Northern Trust is buying fund services units of UBS in Luxembourg and Switzerland. Northern Trust will become the fund administration services provider for funds with about 420 billion Swiss francs ($418.79 billion)in assets.

* Relief Therapeutics announced numerous resignations, including the departure of founder and Chief Executive Raffaele Petrone. The company’s CFO is quitting, too, but will stay on until August. Relief also announced a new financing round, in which major shareholder GEM Global Yield will subscribe to new shares.

* Basilea said its FY 2016 net less narrowed to 51.3 million francs, from 61.6 million francs. For 2017, it plans to further advance clinical development of its oncology drug candidates.

* Arbonia said Christian Stambach will not stand for re-election to the board at the company’s annual general meeting in April.

* Aevis Victoria SA said it published the prospectus of its public takeover offer for Lifewatch Ltd.


* The Swiss National Bank is due to release sight deposit data at 0900 GMT ($1 = 1.0029 Swiss francs) (Reporting by Zurich newsroom)

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