August 24, 2017 / 5:34 AM / a year ago

Swiss stocks - Factors to watch on Aug 24

ZURICH, Aug 24 (Reuters) - The Swiss blue-chip SMI was seen opening slightly lower at 8,954 points on Thursday, according to premarket indications by bank Julius Baer .

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


General Electric has resumed negotiations to sell its industrial solutions business to Swiss engineering company ABB, after the U.S. industrial conglomerate moderated its price expectations, people familiar with the matter said. GE is entertaining the possibility of selling its industrial solutions business for a little over $2 billion after initially hoping for more than $3 billion, four sources said this week.


Switzerland will not relax regulations for its biggest banks but will look to reduce complexity for smaller lenders, the head of Swiss financial watchdog FINMA, Mark Branson, said on Wednesday.


Novartis said its drug Kisqali (ribociclib) received European Union approval as first-line treatment for a tough-to-treat breast cancer, bolstering the Swiss drugmaker’s bid to challenge rival Pfizer’s Ibrance.


The U.S. Food and Drug Administration granted priority review to Roche’s emicizumab for haemophilia A with inhibitors, based on positive results of a phase III study. The FDA is expected to make a decision on approval by February 23, 2018, Roche said.


* Actelion: Johnson & Johnson’s Global Actelion Integration Officer told Swiss TV the integration process would likely take two to three years and that the merger had not led to an outflow of staff at Actelion.

* Vontobel said regulatory authorities had approved its new shareholder structure, initially announced in November 2016, notably the creation of a shareholder pool combining 50.7 percent of votes.

* Swiss Prime Site’s half-year profit fell to 141 million Swiss francs ($146.05 million) from 145.9 million francs the year before.

* Sunrise increased its full-year earnings guidance after net income more than doubled in the second quarter to 27 million francs.

* VAT Group expects roughly 30 percent sales growth in 2017 after order intake rose 45 percent in the first six month. It posted net income of 59.5 million francs for the period.

* Implenia expects earnings before interest and tax, business units to come in at just under 100 million francs this year after earnings fell during the first half on Norwegian portfolio adjustments and claims from the ongoing Letzigrund Stadium court case.

* Liechtensteinische Landesbank’s half-year net profit rose 39.4 percent to 60 million francs.

* Thurguaer Kantonalbank saw net income rise 8.1 percent to 71.9 million francs during the first half-year but expects a lower business performance for full-year 2017 after what it called a very good prior year.

* Myriad Group intends to decide before end-2017 about a possible delisting from the SIX exchange after further review following the completion of a rights issue. The group expects further sales declines from existing products and services, to be compensated by new revenues in 2018 and leading back to revenue growth in 2019.

* Komax Holding expects second-half results to improve over a 18.7 percent group profit fall and 0.8 percent revenue fall in the first six months.

* Perrot Duval expects slight sales growth during its current reporting year after net profit for the year ended April 30 rose to 1.5 million francs and turnover rose 6 percent to 46.4 million francs.

* Warteck Invest saw consolidated net income fall 5.6 percent to 6.6 million francs after negative effects from reevaluating its portfolio.

* Sika acquired ABC sealants, a leading Turkish sealants and adhesives maker.


* Swiss industrial orders for the second quarter are due at 0715 GMT ($1 = 0.9654 Swiss francs) (Reporting by Zurich newsroom)

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