May 14, 2018 / 4:40 AM / 2 months ago

Swiss stocks - Factors to watch on May 14

ZURICH, May 14 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4 percent higher at 9,031 points on Monday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks:

NOVARTIS

The U.S. Food and Drug Administration (FDA) on Friday expanded the use of Novartis AG’s relapsing multiple sclerosis (MS) drug Gilenya to treat children and adolescents. Gilenya is the first FDA-approved drug to treat pediatric patients suffering from relapsing MS. Gilenya, Novartis’s top-selling drug, will be exposed to rivals’ copies next year after patent expiration.

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COMPANY STATEMENTS

* Roche said the FDA had approved an additional claim for Roche’s Cobas Zika test, allowing for streamlined screening of pooled blood or plasma donations.

* UBS said it intends to substitute UBS Group AG where it is the issuer of outstanding Additional Tier 1 capital instruments with UBS Group Funding (Switzerland) AG. The capital instruments will be guaranteed by UBS Group AG, and investors’ seniority of claim against UBS Group AG will remain unchanged, UBS said.

* Orior announced the end results for the offer of Thurella.

* ALSO Holding said it had complemented its consumptional business model with a new financing company

* Meyer Burger said it will suffer a low-single-digit millions loss as it divests its Solar Systems business to Patrick Hofer-Noser after determining that was the best strategic option for the unit.

ECONOMY

* The Swiss National Bank (SNB) has no intention of altering its monetary policy even though the Swiss franc has weakened in recent months, its Vice Chairman told Swiss newspaper Schweiz am Wochenende, saying the situation around the country’s currency remained fragile.

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Reporting by Zurich newsroom

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