October 16, 2017 / 4:46 AM / a month ago

Swiss stocks - Factors to watch on Oct 16

ZURICH, Oct 16 (Reuters) - The Swiss blue-chip SMI was seen opening flat at 9,310 points on Monday, according to premarket indications by bank Julius Baer.

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

NESTLE

Hershey was preparing to submit a bid for Nestle’s confectionery business, CNBC said late on Friday, citing sources familiar with the matter.

Nestle said in June it might sell its U.S. confectionery business. First-round bids for the business, estimated to be valued between $2 billion to $2.5 billion, were due on Friday, CNBC said.

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UBS

UBS Group AG wants to keep as many research analysts as possible in London after Britain exits the European Union, Chairman Axel Weber said in a Bloomberg TV interview.

It will be the Swiss bank’s traders and sales people who, “in the end, need to move to the EU if the UK were to leave,” Weber said in the interview on Friday at the annual meeting of the Institute of International Finance in Washington.

The lender plans to increase the number of its staff in Saudi Arabia in the hope to benefit from an expected economic boost, Swiss newspaper Tages-Anzeiger reported on Saturday.

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COMPANY STATEMENTS

* Roche said new data on OCREVUS (ocrelizumab) in people with relapsing and primary progressive forms of multiple sclerosis will be presented during the Joint European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) – Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) Meeting in Paris, France later this month.

* Leclanche SA said revenue grew 84 percent year-on-year to 10.6 million Swiss francs in the six months to 30 June of 2017 and its loss for the period fell 31 percent to 11.9 million francs from 17.3 million francs. The company also said it is launching a rights offering to raise 40 million francs to finance its growth plan, and that it is reviewing a potential “second listing” in the second quarter of next year.

* Kuehne + Nagel net turnover in the first nine months of 2017 increased by 10.4 percent year on year to 13,525 million Swiss francs and earnings for the period rose 1.3 percent to 540 million francs. CEO Trefzger said the company is confident it will reach its full-year profitability targets.

* In its takeover of ImmoMentum, Talbot Holding now holds 92.98 percent of the voting rights.

ECONOMY

The Swiss National Bank is due to publish data on sight deposits at 0800 GMT.

Reporting by Zurich newsroom

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