April 3, 2017 / 4:34 AM / 6 months ago

Swiss stocks - Factors to watch on April 3

ZURICH, April 3 (Reuters) - The Swiss blue-chip SMI was seen opening 0.11 percent higher at 8,669 points on Monday, according to premarket indications by bank Julius Baer .

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

GALENICA SANTE

Galenica has priced the initial public offering of its Sante unit at between 37-39 Swiss francs per share at the top end of its range, implying a market capitalization of 1.85 billion Swiss francs ($1.85 billion) to 1.95 billion francs.

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CREDIT SUISSE

Credit Suisse took out adverts in British Sunday newspapers stressing a zero-tolerance policy on tax evasion, as the Swiss bank tries to limit any damage to its reputation from raids on three of its offices.

Harris Associates, one of Credit Suisse’s biggest shareholders, plans to vote in favour of all the proposals from the Swiss bank’s board of directors at the annual general meeting on April 28, Swiss newspaper NZZ am Sonntag reported.

The bank is also conducting an internal investigation over whether staff breached compliance rules after three of its offices were searched in tax evasion probes, the head of its International Wealth Management division said on Friday.

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COMPANY STATEMENTS

* UBS said Chairman Axel Weber and the other members of the board of directors will stand for re-election for a further one-year term.

* Swisscom Chief Executive Urs Schaeppi told SonntagsZeitung the company will be doing a good job in the next few years in Switzerland if it keeps turnover and margins stable. Swisscom does see growth potential in Italy, Schaeppi said.

* Sika will restrict the voting rights of the Swiss construction chemical maker’s founding family at 5 percent in votes at the upcoming annual general meeting on the re-election of independent board members and candidates for the board nominated by the family, SonntagsZeitung reported. The Burkard family, descendents of Sika’s founder, is at odds with the management of the company over a takeover battle involving France’s Saint-Gobain.

* Rajiv Jain, the former star fund manager at Swiss private bank Vontobel, told Finanz und Wirtschaft he is looking to raise 3.5-4 billion Swiss francs in managed assets within 9 months for his new fund.

* Arundel AG said on Friday it entered into an agreement with Vega Energy Partners Ltd in Houston, giving it an opportunity to invest in certain energy infrastructure assets and natural gas trading activities.

* Energiedienst Holding said on Friday that Dominique D. Candrian was elected chairman of board of directors.

* Highlight Event and Entertainment said it would increase its share capital up to a maximum of 63.4 million francs.

* Baloise said it is beginning its share buyback programme and that it had purchased around 70 percent of PAX Anlage AG.

* Evolva said it has entered a major collaboration agreement with Cargill for the production and commercialisation of EverSweet. This product is on track for a 2018 launch.

* Roche said its Phase III Alur study supports the use of Alecensa for people with advanced ALK-positive lung cancer.

* Schmolz & Bickenbach AG said it is offering 200 million euros ($213.56 million) of senior secured notes due 2022 to redeem outstanding portion of senior secured notes due 2019.

* Novartis Ag said its drug combination Tafinlar and Mekinist won EU approval for BRAF v600-positive advanced non-small cell lung cancer.

ECONOMY

Swiss retail sales at 0715 GMT

Swiss Manufacturing PMI at 0730 GMT

$1 = 1.0006 Swiss francs Reporting by Zurich newsroom

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