December 11, 2017 / 5:50 AM / in 8 months

Swiss stocks - Factors to watch on Dec 11

ZURICH, Dec 11 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent higher at 9,351 points on Monday, according to premarket indications by bank Julius Baer .

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


The biggest publicly listed Swiss private bank will ‍nominate Goldman Sachs investment banker Richard Campbell-Breeden for election to its board of directors, the Swiss private bank said on Monday.

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Patients with an advanced form of an aggressive blood cancer who had initially responded to Novartis’ new type of gene-modifying immunotherapy continued to respond at least six months after treatment, according to updated data released at a medical meeting on Sunday.

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Chairman Christoph Franz remains confident the Swiss drugmaker can offset revenue declines from patent expired medicines with new drugs, according to an interview published on Sunday in the Swiss newspaper NZZ am Sonntag.

Additionally, the company said an experimental drug added to standard therapy led to a far higher rate of remission and helped patients with an advanced, aggressive blood cancer live significantly longer than the standard treatment alone.

Combining Roche’s Tecentriq immunotherapy with its older drug Avastin reduced the risk of disease worsening or death (PFS) for the initial treatment of advanced kidney cancer in some patients, the Swiss drugmaker also said on Monday.

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The Swiss plane maker’s development costs of “well over 500 million Swiss francs” ($504 million) far exceeded the original budget for the company’s first business jet, Chairman Oscar Schwenk told the Neue Zuercher Zeitung in an article published on Saturday.


* Swiss drug ingredients maker Siegfried Holding is eyeing an acquisition with a price of around 400-450 million Swiss francs ($403-$453 million) that would add about 50 million francs in annual operating profit, Finanz und Wirtschaft reported, citing a Zuercher Kantonalbank analyst

* Swiss utility and building services company BKW Chief Executive Officer Suzanne Thoma, who has been actively buying smaller Swiss building technology firms, told the Swiss newspaper Finanz und Wirtschaft that her company is not bidding for public contracts at dumping prices in order to undercut the competition


* Baloise Holding said that Hans-Jörg Schmidt-Trenz will join the board.

* Newron said its current cash position is at about 60 million euros ($70.69 million)

* Meyer Burger said it has completed the consultation process with workers at its plant in Thun, where the company wants to end all manufacturing at the end of 2018.

* PSP Swiss Property said it has purchased a property portfolio of nine office buildings for 190 million Swiss francs ($191.38 million)from Edmond de Rothschild.


The Swiss National Bank is due to publish details of sight deposits at 0900 GMT. ($1 = 0.9928 Swiss francs) ($1 = 0.8488 euros) (Reporting by Zurich newsroom)

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