May 8, 2018 / 5:02 AM / 2 months ago

Swiss stocks - Factors to watch on May 8

ZURICH, May 8(Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower on Tuesday, according to premarket indications from bank Julius Baer.

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

LAFARGEHOLCIM

LafargeHolcim reported a 13 percent fall in first quarter earnings as the world’s largest cement maker embarks on its new strategy under recently-appointed Chief Executive Jan Jenisch. Its shares were seen falling 0.6 percent in pre-market trading.

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ADECCO

Adecco Group reported weaker-than-expected first-quarter earnings as the world’s largest staffing company said revenue growth was running at an underlying 5-6 percent in March and April. Its shares were indicated to open down 1.6 percent.

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SWISS LIFE

The life insurer said it generated fee income of 395 million Swiss francs in the first quarter of 2018, up 9 percent in local currencies. Its shares were indicated to rise 1.5 percent.

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DUFRY

The airport retailer on Tuesday reported an organic growth of 7.1 percent and an 18.4 percent jump in first-quarter core earnings, driven by robust performance in Eastern Europe, Middle East, Asia and Australia.

COMPANY STATEMENTS

* Emmi said Chief Financial Officer Joerg Riboni is to hand over his duties as per April 2019.

* PSP Swiss Property said net income rose by 8.7 percent to 43.2 million Swiss francs in the first quarter.

* Roche said new data from its early and late-stage clinical studies on more than 19 approved and investigational cancer medicines will be presented at the 2018 American Society of Clinical Oncology (ASCO) Annual Meeting, taking place from 1-5 June, in Chicago, IL, United States.

* Schmolz & Bickenbach said adjusted Ebitda grew 5.6 percent to 70.3 million euros ($83.74 million) in the first quarter.

ECONOMY

* The Swiss unemployment rate fell to a non-seasonally adjusted 2.7 percent in April from 2.9 percent in the previous month, the State Secretariat for Economic Affairs said on Tuesday.

* The Swiss Federal Treasury said on Tuesday it was reopening its 0.5 percent bond maturing in 2055 in a tender . ($1 = 0.8395 euros) (Reporting by Zurich newsroom)

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