October 17, 2017 / 5:27 AM / 2 months ago

Swiss stocks - Factors to watch on Oct 17

ZURICH, Oct 17(Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent higher at 9,300 points on Tuesday, according to premarket indications by bank Julius Baer .

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

CREDIT SUISSE

Activist investor RBR Capital Advisors is launching a campaign for breaking up Swiss bank Credit Suisse Group AG CSGN.S into three parts, the Financial Times reported.

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RICHEMONT

The company said it expects an 80 percent increase in profit for the six months ended Sept. 30 after the world’s second biggest luxury group reported improving sales and reduced inventory buybacks.

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COMPANY STATEMENTS

* Gurit said it has won a contract for the production and supply of carbon fibre-based exterior car body panels from an Italian premium automotive manufacturer.

* Leonteq said it has signed a cooperation agreement with Swiss Mobiliar for the development and provision of modern insurance products. Leonteq will support Swiss Mobiliar with its technology platform.

* Zur Rose Group reported a 15.4 percent in Q3 sales to 245.9 million Swiss francs.

* Mobilezone said it is transferring its head office to Rotkreuz.

* VAT Group reported a 29 percent rise in Q3 sales to 167 million francs.

ECONOMY

* The Swiss National Bank remains committed to its current expansive monetary policy despite a reduced upward pressure on the Swiss franc and an improving global economic situation, Chairman Thomas Jordan told Swiss broadcaster SRF. (Reporting by Zurich newsroom)

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