ZURICH/BERLIN, Oct 17 (Reuters) - The Swiss blue-chip SMI was seen opening 0.8 percent higher at 8,867 points on Wednesday, according to premarket indications by bank Julius Baer.
Here are some of the main factors that may affect Swiss stocks:
Third-quarter sales rose 7 percent, above analyst forecasts, as revenue from new drugs including its multiple sclerosis therapy Ocrevus offset the impact rivals’ copies are having on the Swiss group’s top-selling medicines.
Shares indicated up 1.9 percent.
Prospects for a new treaty cementing ties between Switzerland and the European Union, its biggest trading partner, appeared to fade on Wednesday as four years of negotiations failed to produce a breakthrough by the EU’s mid-October deadline.
French shipping group CMA CGM has obtained a further 4.56 percent stake in CEVA Logistics, the Swiss transport group which rejected a bid from Denmark’s DSV, Ceva said on Wednesday.
Swiss-Irish baker Aryzta stood by its plan to raise 800 million euros ($926 million) in new equity to meet its liquidity and financing needs, criticising a proposal by its biggest shareholder to raise only half that amount as inadequate and risky.
* Kudelski said it struck a patent license agreement with Endeavor, an entertainment, sports and fashion company.
* Novartis Chairman Joerg Reinhardt told German newspaper FAZ the company could launch two new gene therapies within the next twelve months. Following the spinoff of eyecare unit Alcon, no more bigger portfolio adjustments would be needed, he said.
* Clariant AG: awarded a long-term supply contract by Ineos to supply catofin catalysts and heat generating material for a major propane dehydrogenation plant to be constructed in Europe
No economic data due.
Switzerland’s nine-year streak as the world’s most competitive economy came to an end on Wednesday, dethroned by the United States in an annual league table published by the World Economic Forum (WEF).
Reporting by Zurich newsroom and Berlin Speed Desk