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Swiss stocks - Factors to watch on April 24
April 24, 2017 / 6:14 AM / 8 months ago

Swiss stocks - Factors to watch on April 24

ZURICH, April 24 (Reuters) - The Swiss blue-chip SMI was seen opening 1.1 percent higher at 8,647 points on Monday, according to premarket indications by bank Julius Baer .

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


LafargeHolcim Chief Executive Eric Olsen will leave the company in July, the world’s largest cement maker said on Monday, in the wake of an investigation into allegations the company paid armed groups in Syria to keep a plant operating.


The pesticides and seeds group that is being acquired by ChemChina said first quarter sales slipped 1 percent to $3.74 billion as growth in Asian corn seed markets was offset by lower demand for fungicides and herbicides in Latin America.


Credit Suisse will not decide on how it wants to raise fresh capital until after this week’s annual general meeting, SonntagsZeitung reported on Sunday. The Swiss bank is considering a quick-fire share sale or listing 20 to 30 percent of its Swiss business in order to raise between 3 and 6 billion Swiss francs ($3 - 6 billion) in new capital, the Swiss newspaper said, citing sources close to Chairman Urs Rohner.


The Swiss National Bank (SNB) is ready to use its available policy tools to stem any upward pressure on the Swiss franc that might result from France’s presidential elections, SNB Chairman Thomas Jordan said in an interview with Bloomberg TV.


* Glarner Kantonalbank raised first-quarter net profit by 27 percent to 4.9 million Swiss francs.

* will propose a new share buyback program of up to 10 percent of current share capital, or 18 million euros, at its annual general meeting on Friday. Subject to approval, the buyback will begin May 3.


$1 = 0.9968 Swiss francs Reporting by Zurich newsroom

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