June 23, 2017 / 4:56 AM / in 6 months

Swiss stocks - Factors to watch on June 23

ZURICH, June 23 (Reuters) - The Swiss blue-chip SMI was seen opening 0.14 percent higher at 9,064 points on Friday, according to premarket indications by bank Julius Baer .

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


The Swiss food giant’s Gerber baby food business could make acquisitions and sign partnerships with innovative startups to fuel growth in its home market, the United States, and in the fast-growing Chinese market, the division’s head told Reuters.

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* Julius Baer Group said it is integrating its fully owned subsidiary WMPartners Wealth Management Ltd. in Zurich, with existing client relationships to continue and unchanged custody within Julius Baer or third-party banks.

* Tecan is collaborating with Italian in vitro diagnostics company DiaSorin on a nucleic acid extraction platform.

* VP Bank set aside 9.9 million euros ($11.05 million) in provisions to settle cases involving German clients with untaxed assets being pursued by authorities in North Rhine-Westfalia. Even so, the bank said it likely had higher profitability in the first half of 2017 than the year-ago period’s 24.4 million Swiss francs ($25.14 million).

* Goldbach Media extended its partnership with 3 Plus.

* Credit Suisse had its A/A-1 ratings for Credit Suisse and its BBB+ rating for Credit Suisse Group AG affirmed by S&P Global Ratings, which cited progress on restructuring and balance sheet strengthening. S&P said it believes that the Swiss bank’s profitability will continue to underperform peers.

* Novartis said its combination targeted therapy tafinlar + mekinist received U.S. Food and Drug Administration approval for BRAF V600E mutant metastatic non-small cell lung cancer (NSCLC).

* Roche said the FDA approved Rituxan Hycela (rituximab and hyaluronidase human) for subcutaneous injection in certain blood cancers, making a more convenient injection available to patients who previously underwent 90-minute infusions.

Roche also said new data on its multiple sclerosis drug Ocrevus showed it significantly reduced multiple measures of disease progression.

* Swiss Finance & Property Investment said it secured a development opportunity in the Basel region.

* Bank Cler said it appointed Sandra Lienhart as its new CEO after parting ways with former CEO Hanspeter Ackermann amid differences of opinion about leadership.


* The Swiss National Bank (SNB) will keep its ultra-loose monetary policy in the near term, Board Member Andrea Maechler said on Thursday. ($1 = 0.8959 euros) ($1 = 0.9706 Swiss francs) (Reporting by Zurich newsroom)

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