June 7, 2019 / 5:24 AM / 2 months ago

Swiss stocks - Factors to watch on June 7

ZURICH/BERLIN, June 7 (Reuters) - Here are some of the main factors that may affect Swiss stocks on Friday:

SWISS RE

The Swiss insurer announced it is still considering going ahead with a flotation of its ReAssure subsidiary on the London Stock Exchange.

NOVARTIS

French drugmaker’s Sanofi is poised to appoint Paul Hudson, a top executive with Switzerland’s Novartis, to become the company’s next CEO from Sept. 1, a source familiar with the decision told Reuters on Thursday.

Novartis named Marie-France Tschudin to replace him.

UBS

Chief Executive Sergio Ermotti told German newspaper Handelsblatt that “it’s just a question of time” before there is a cross-border European banking merger.

COMPANY STATEMENTS

* Metal Zug Group on Friday said it saw break even result for earning before interest and taxes (EBIT) in the first half of the financial year. The company said soil remediation due to contamination at a plant site in Switzerland, as well as costs linked to an SAP rollout, dented profits.

* New Value concluded 2018/2019 financial year with a loss of 2 million Swiss francs, it said on Friday.

* Polyphor said it presented new in-vivo efficacy and tolerability data for a potential inhaled administration of its lead antibiotic murepavadin at a European cystic fibrosis conference. Polyphor has temporarily halted enrollment in phase III studies of Murepavadin for treatment of patients with nosocomial pneumonia due to a higher than expected rate of kidney injury.

ECONOMY

May jobless data due at 0545 GMT. Seen unchanged at 2.4%. (Reporting by Zurich newsroom and Berlin Speed Desk)

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