May 30, 2017 / 4:41 AM / 6 months ago

Swiss stocks - Factors to watch on May 30

ZURICH, May 30 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 9,024 points on Tuesday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks:

CREDIT SUISSE

Singapore’s central bank said it had fined Credit Suisse and United Overseas Bank (UOB) a total of S$1.6 million ($1.15 million) for breaches of anti-money laundering rules for transactions related to Malaysia’s scandal-ridden state fund 1MDB.

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ZUR ROSE GROUP

The Swiss mail-order pharmacy will hold an extraordinary general meeting (EGM) on June 19 to increase its share capital, as it mulls whether to raise funds through a public listing, private funding or by issuing debt.

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NOVARTIS

The drugmaker holds two-day investor conference in Boston.

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ZURICH INSURANCE

The insurer presents at a Deutsche Bank financial services conference.

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SCHINDLER, ALSO HOLDING

Schindler’s stake in Also Holding has fallen to nearly zero after Schindler issued a 218 million franc bond exchangeable into registered shares of Also. The conversion period ended on May 26.

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COMPANY STATEMENTS

* Aryzta said third-quarter underlying revenue was flat year on year at 975.2 million euros‍. The company said, given the pace of management transition and the extent of operational reviews underway, the board is not in a position to provide guidance and accordingly, prior guidance should not be relied upon.‍​

* Dottikon posted full-year net income of 22.2 million Swiss francs, a 55 percent increase compared to the previous year. It anticipates a further increase in net sales and net income in the business year 2017/18 compared to the previous year.

* Dufry AG subsidiary Hudson Group and its partner Shaw Foods said it was awarded seven new specialty retail, travel essentials and duty-free stores for a total space close to 6,400 sq. ft. at Raleigh-Durham International Airport.

* Bell said it is buying a 49 percent stake in Hilcona Group to become the sole owner.

* The Swiss Takeover Board has stated that the modification of the public takeover offer of Cardiac Monitoring Holding Company to the shareholders of LifeWatch AG and the report of the board of LifeWatch AG meet the legal requirements.

* Helvetia Holding said ‍Helvetia Venture Fund is investing in Baimos Technologies GmbH.

* Molecular Partners provided additional details on clinical studies of proprietary lead oncology asset MP0250. The first patient was dosed in the phase 2 multiple myeloma study of its lead oncology asset MP0250 and in the first phase 2 study, the efficacy and safety of MP0250 will be examined in combination with bortezomib (Velcade(R)) and dexamethasone in patients with multiple myeloma who have failed standard therapies.

* Orascom Development Holding said it has successfully completed the previously announced delisting of the company’s Egyptian Depositary Receipts (EDRs) from the EGX.

ECONOMY

KOF leading indicator for May due at 0700 GMT (Reporting by Zurich newsroom)

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