July 17, 2013 / 4:47 AM / 4 years ago

Swiss stocks - Factors to watch on July 17

ZURICH, July 17 (Reuters) - Swiss stocks were expected to hover on Wednesday ahead of comments later in the day by U.S. Federal Reserve Chairman Ben Bernanke, expected to reiterate later that U.S. monetary policy is to stay accommodative.

The Swiss blue-chip SMI was seen flat at 7,932 points, according to premarket indications from bank Julius Baer . The following are some of the main factors expected to affect Swiss stocks on Wednesday:

NOVARTIS

* Swiss drugmaker Novartis hiked its outlook for the full-year as delays to a generic competitor for its blockbuster blood pressure pill Diovan softened the blow of patent losses.

* A federal court in New York ruled that Mylan Inc’s generic application for a multiple sclerosis drug has not infringed some of Teva Pharmaceutical Industries’ patents, Mylan said. Israel-based Teva is also suing Momenta Pharmaceuticals, Novartis AG’s Sandoz unit and India-based Natco Pharmaceuticals for infringing patents.

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