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Swiss stocks - Factors to watch on April 25
April 25, 2017 / 4:40 AM / 8 months ago

Swiss stocks - Factors to watch on April 25

ZURICH, April 25 (Reuters) - The Swiss blue-chip SMI was seen opening little changed at 8,710 points on Tuesday, according to premarket indications by bank Julius Baer .

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

NOVARTIS

First-quarter core net income fell 4 percent as the Swiss drugmaker’s spending to kick start sales at its eyecare unit Alcon and for its heart failure drug Entresto weighed again on earnings

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LONZA

The drug ingredients maker will replace biotech company Actelion in Switzerland’s blue-chip SMI stock index as of May 3, the Swiss stock exchange said.

It upgraded its 2017 outlook after a strong first quarter

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ABB

The engineering group has sealed a collaboration agreement with International Business Machines Corp, the latest step in its efforts to ramp up its presence in digital technology and the internet of things.

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CREDIT SUISSE

Chairman Urs Rohner faces his toughest shareholder meeting this week following an investor revolt over bonuses and losses totalling 5.65 billion Swiss francs ($5.7 billion) since 2015.

SWISS LIFE

The insurer holds its annual general meeting.

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COMPANY STATEMENTS

* Novartis said it had expanded commercial collaboration with Amgen for erenumab in treating migraine. [NOVN.S}

* Biotelemetry Inc said it issued a prospectus for public tender offer to acquire Switzerland’s Lifewatch.

* Schindler said first-quarter net profit slipped slightly to 179 million Swiss francs, down from 182 million francs. Orders rose 5.7 percent, as the company said it continues to expect full-year revenues to rise 3-5 percent in local currencies.

* Kudelski said signed a patent license agreement with Advance Magazine Publishers Inc including Condé Nast. Financial terms were not disclosed.

* ams posted a net result for Q1 of -16.2 million euros compared to 13.6 million euros in same period last year and said its mid-term revenue growth target is currently under upward revision.

* Feintool International Holding AG said Q1 sales were 145 million Swiss francs ($145.61 million)

* Phoenix Mecano AG says Q1 gross sales increased by 9.8% year-on-year to 161.2 million euros

* Dufry AG renews its duty-free contract at Liverpool John Lennon Airport for additional 8 years

* Ascom Holding AG announces the introduction of Ascom Telligence into Europe, Asia and growth markets

ECONOMY

Reporting by Zurich newsroom

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