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Swiss stocks - Factors to watch on Dec 8
December 8, 2017 / 7:38 AM / 7 days ago

Swiss stocks - Factors to watch on Dec 8

ZURICH, Dec 8 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4 percent higher at 9,304 points on Friday, according to premarket indications by bank Julius Baer .

Here are some of the main factors expected to affect Swiss stocks on Friday.

SWISS RE

Swiss Re Chief Financial Officer David Cole will step down next March and be replaced by the group’s head of strategy, John Dacey, the world’s second-largest reinsurer said on Friday.

LAFARGEHOLCIM

The former chief executive of Franco-Swiss cement group LafargeHolcim Ltd, Eric Olsen, was placed under formal investigation on Thursday as part of an inquiry into the group’s activities in Syria, a source with the prosecutor’s office said.

ROCHE

Scientists at Swiss drugmaker Roche said on Friday they may have discovered why some tumours resist new immunotherapy drugs as well as a possible means of turning the tables to incite a T-cell attack.

UBS

UBS said Jeremy Anderson, former KPMG chairman of global financial services, will be nominated for election to the Swiss bank’s board of directors at its forthcoming annual general meeting planned for May 3.

COMPANY STATEMENTS

* Novartis division Sandoz said new Phase I data showing proposed biosimilar Pegfilgrastim matches reference medicine

* Clariant said it has entered into an agreement with Xuzhou HaiDing Chemical Technology Co. Ltd. to develop a CATOFIN catalyst and propane dehydrogenation unit together with technology partner CB&I. The project includes the license and engineering design of the unit, which is to be built in Pizhou, Jiangsu Province, China, Clariant said. (Reporting by Zurich newsroom)

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