August 18, 2017 / 4:55 AM / 4 months ago

Swiss stocks - Factors to watch on Aug 18

ZURICH, Aug 18 (Reuters) - The Swiss blue-chip SMI was seen opening 0.6 percent lower at 8,890 points on Friday, according to premarket indications by bank Julius Baer .

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

NOVARTIS, ROCHE

U.S. House Democrats said on Thursday they were launching an investigation into why prices for multiple sclerosis (MS) treatments have nearly quintupled since 2004, and they sent letters requesting information from seven drugmakers including Novartis AG and Roche

STRAUMANN

The dental implants maker on Thursday announced and then cancelled plans to place 400,000 treasury shares -- or roughly 2.6 percent of all its outstanding shares -- to institutional investors to finance acquisitions and investments announced that day. It said a discount of more than 2 percent was not warranted and it was pursuing other options.

NESTLE

A lawsuit accuses Nestle of violating the rights of Atari by using without permission the classic 1970s video game “Breakout” in a new marketing campaign for its Kit Kat chocolate-covered wafers.

BANKS

Deutsche Bank AG and Bank of America Corp agreed to pay a combined $65.5 million to settle investor litigation accusing large banks of rigging the roughly $9 trillion government agency bond market over a decade. Other banks including Credit Suisse have also been sued and sought dismissals.

COMPANY STATEMENTS

* Schweiter Technologies AG said a temporary increase in raw material costs and one-off effects led to a lower operating profit in H1 in comparative terms; expects H2 business to develop favourably, with operating result at least on a par with first half

* PSP Swiss Property AG H1 rental income down 1.4 percent at chf 136.364 mln; H1 net income of chf 80.4 million, down versus previous year’s result (h1 2016: chf 89.0 million) ‍​

* Gurit Holding AG H1 net sales of chf 175.2 million, currency-adjusted decrease of -0.5% and -3.9% in reported Swiss francs over previous year; H1 operating profit amounted to chf 21 million

* Huegli Holding AG ‍outlook 2017: sales in local currencies and ebitda at previous year’s level; H1 ‍profit drops by -12.4% to chf 10.9 million​

* Novavest Real Estate AG says H1 net rental income rose by 52% to chf 7.7 million; H1 EBIT + 124%

* Mobilezone AG H1 sales of chf 513 million (2016: chf 523 million) and ebit of chf 18.4 million (2016: chf 18.3 million)

* Kuehne und Nagel announced a new multi-year contract with Daimler’s Mercedes-Benz Vans, LLC providing production logistics.

ECONOMY

A gfs.bern poll showed 53 percent of people surveyed back a plan to raise the VAT rate to finance pension reform. Switzerland holds a referendum on the plan on Sept. 24. (Reporting by Zurich newsroom)

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