November 12, 2018 / 5:53 AM / a month ago

Swiss stocks - Factors to watch on Nov. 12

ZURICH/BERLIN, Nov 12 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4 percent higher at 9,111 points on Monday, according to premarket indications from bank Julius Baer .

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

RAIFFEISEN

Chief Executive Patrick Gisel has resigned, moving forward a step planned for the end of the year, the cooperative bank said. Deputy CEO Michael Auer will head operations until further notice, the bank said late on Friday.

163 delegates of the cooperative lender’s 246 banks elected Guy Lachappelle as the bank’s new chairman at an extraordinary general meeting on Saturday. Karin Valenzano Rossi, Andrej Golob, Thomas A. Müller and Beat Schwab were further added to its board.

Lachapelle in an interview with Swiss newspaper SonntagsZeitung promised readiness for change, and said he was considering selling mobile phone contracts or offering relocation services.

“We need to combine banking services with non-banking services,” he said.

NESTLE

Nestle invited investment banks to its headquarters in Vevey to discuss strategies for its portfolio, German newspaper Lebensmittelzeitung reported. Its Thomy condiments, as well as European candies business and German sausage brand Herta were amongst candidates discussed for possible divestments, the paper reported. Nestle declined to comment on the matter.

NOVARTIS

Results of a PIONEER-HF trial showed in-hospital initiation of Novartis’ Entresto tablets provided superior benefit compared to enalapril-a heart failure medication commonly used-in patients with HFrEF who had been stabilized following admission for an acute decompensation heart failure event, Novartis said on Sunday.

X8 AG

The Switzerland-based fin tech firm has obtained certification from Islamic scholars for its digital currency, with plans to expand its business in the Middle East, a senior executive said on Monday.

COMPANY NEWS:

* EFG International said it named Ranjit Singh as its new chief risk officer.

* Orascom Development said reported net losses reached 29.6 million Swiss francs in the first three quarters of 2018, about on par with the year-ago period.

* Leclanche said it was selected by Kongsberg to supply energy storage solutions for the electric and hybrid marine industry.

* Flughafen Zuerich said it could see aviation revenues fall by 150 million Swiss francs, should proposals from the Federal Office of Civil Aviation be enacted. It said it would fight Swiss federal agency’s plans.

ECONOMY

No economic data scheduled. (Reporting by Zurich newsroom and Berlin Speed Desk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below