September 26, 2012 / 4:51 AM / 5 years ago

Swiss stocks - Factors to watch on Sept 26

ZURICH, Sept 26 (Reuters) - The following are some of the main factors expected to affect Swiss stocks on Wednesday:

CREDIT SUISSE :

Credit Suisse is preparing to dismantle its sub-scale asset management unit, integrating the business into its larger private bank and investment bank to clamp down on costs, two people within the Swiss bank told Reuters.

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UBS

Former UBS trader Kweku Adoboli told close colleague John Hughes in January 2011 about a secret account he used to hide unauthorised deals, nine months before Adoboli was found out and arrested, a London court heard on Tuesday.

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The Swiss National Bank (SNB) has denied claims by ratings agency Standard & Poor’s that its bond buying was driving down yields for the “core” euro zone states as fundamentally flawed and unfounded.

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Three Swiss engineers guilty of involvement in a Pakistani nuclear smuggling ring avoided a prison sentence on Tuesday after agreeing a plea bargain with the Swiss Federal Prosecutor’s Office.

COMPANY STATEMENTS

Myridad reported for the first half of 2012 a net loss of $23.3 million compared to a net loss of $4.6 million in the prior half year period. The company also said it has launched a 10 million Swiss francs fully underwritten rights issue

ECONOMY

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