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Swiss stocks - Factors to watch on Nov 15
November 15, 2017 / 5:47 AM / a month ago

Swiss stocks - Factors to watch on Nov 15

ZURICH, Nov 15 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent down at 9,102 points on Wednesday, according to premarket indications by bank Julius Baer .

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

NESTLE

The global food giant said it is reorganizing its infant nutrition business and making changes to its executive board, with its chief technology officer Stefan Catsicas leaving to be replaced by Stefan Palzer and Nestle Nutrition head Heiko Schipper also leaving the company.

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ZURICH INSURANCE

The Swiss insurer on Wednesday confirmed its 2017-2019 financial targets, saying an expected improvement in insurance pricing following recent natural catastrophes would boost its ability to deliver on its goals.

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POENINA

The Swiss building technology company said on Wednesday it raised 39.1 million Swiss francs ($39.54 million) in an initial share offering aimed at filling its coffers to make acquisitions. Just over 21 million francs will flow to the company, with Chief Executive Jean Claude Bregy also taking a share from selling a portion of his stake.

COMPANY STATEMENTS

* Adecco said it has issued $300 million in 4-year notes with a 2.625 percent coupon​, with the proceeds to be used for general corporate purposes.

* AMS said it was divesting its LED backlight technology and product portfolio to Dialog Semiconductor.

* Orascom said its nine-month net loss attributable to shareholders narrowed to 30 million Swiss francs, from 60.7 million francs in the year earlier period, as revenues were flat at 170.8 million francs.

* Baloise Holding said the nine-month total volume of business was 7.22 billion Swiss francs, or on par with the prior year period.

* Kudelski Group said it has launched its new Internet of Things chip-to-cloud security suite.

* Forbo Holding said it has decided to repurchase up to a maximum of 90,000 of its registered shares, or 5 percent of the share capital, at a fixed price of 1,430 Swiss francs per share.

* Datacolor said full year net sales rose by 5 percent to $72.8 million.

* WISeKey said it has signed new agreements in China and the US to secure cars, video cameras and routers. ​

ECONOMY

Reporting by Zurich newsroom

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