October 20, 2014 / 4:51 AM / 3 years ago

Swiss stocks - Factors to watch on Oct 20

ZURICH, Oct 20 (Reuters) - Swiss stocks were expected to inch higher at the open on Monday, adding to gains in the previous session after U.S. macro data helped soothe worries over the pace of global growth.

The Swiss blue-chip SMI was seen opening up 0.1 percent at 8,254 points, according to premarket indications by bank Julius Baer.

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

UBS

UBS AG is sticking with its recommendations that some clients buy risky Puerto Rico closed-end bond funds, despite hundreds of arbitration claims by investors who blame the securities for huge losses, according to an internal document.

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NESTLE

Nestle has closed a 6 billion euro ($7.65 billion) refinancing of its 5 billion euro, 364-day revolving credit facility that was agreed in October 2013, banking sources said.

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COMPANY STATEMENTS

* Novartis : Morphosys AG said it had received a milestone payment from Novartis in connection with the initiation of a phase one clinical trial of a HuCAL antibody in the field of diabetic eye diseases.

* Helvetia said it will finalise its takeover of Nationale Suisse on Monday with the issue of new shares to stakeholders who tendered shares under its offer, as well as through the payment of the cash component.

* Hochdorf Holding AG said it will issue new shares to help fund the purchase of a 60 percent stake in Uckermaerker Milch GmbH, as well as minority stakes in several other businesses.

* Daetwyler Holding AG said it was buying Keystone Holdings to reinforce its sales and distribution organisation for the U.S. automotive industry.

ECONOMY

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