February 9, 2018 / 6:01 AM / 9 days ago

Swiss stocks - Factors to watch on Feb 9

ZURICH, Feb 9 (Reuters) - The Swiss blue-chip SMI was seen opening 0.5 percent down at 8,718 points on Friday, according to premarket indications by bank Julius Baer .

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

SWISS NATIONAL BANK

The Swiss National Bank (SNB) reached a currency swap agreement with the Bank of Korea, enabling Korean won and Swiss francs to be purchased and repurchased between the two central banks up to 11.2 trillion Korean won ($10.29 billion), or 10 billion Swiss francs ($10.67 billion). The SNB said the agreement will boost collaboration.

CREDIT SUISSE

The Swiss bank kept $300 million from brokers in a closed U.S. unit, according to a lawsuit.

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NESTLE

L‘Oreal said it is ready to buy Nestle’s 23 billion euros ($28.20 billion) stake in cosmetics group, the Financial Times reported.

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COMPANY STATEMENTS

* Zuercher Kantonalbank said it expects a solid result in 2018 after boosting profit 3 percent in the past year.

* Swiss watchdog FINMA said its Takeover Board is examining an appeal regarding SHL Telemedicine with regards to the Swiss Takeover Board’s rejection of a request for the suspension of voting rights amid a dispute.

* Implenia won a contract worth around 85 million Swiss francs to repair and upgrade a Swiss motorway near Zurich.

* Liechtensteinische Landesbank said Karl Sevelda will not stand for election this year as a board member at the upcoming annual general meeting “due to other commitments.” Sevelda’s nomination for a board seat will instead be reviewed ahead of the 2019 AGM.

* EMS Chemie said net sales increased by 8.2 percent and net operating income (EBIT) rose by 6.3 percent compared to previous year.

* Starrag Group said Christian Walti was named the new chief executive, replacing Walter Börsch.

* Newron Pharmaceuticals said Bo Jesper Hansen is resigning as board member as of the AGM on March 27.

* Baloise said it is collaborating with Bank Cler

* Airopack said it bought Scholle IPN Equipment BV for an undisclosed amount

* Mobimo said it expects a robust result in 2018

* Wisekey said it secured equity financing of up to 50 million Swiss francs

* Graubuendner Kantonalbank said its 2017 net profit rose 7 percent to 180 million Swiss francs

ECONOMY

* The Swiss unadjusted jobless rate remained at 3.3 percent in January ($1 = 0.8157 euros) ($1 = 1,088.6500 won) ($1 = 0.9370 Swiss francs) (Reporting by Zurich newsroom)

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