August 22, 2016 / 4:45 AM / a year ago

Swiss stocks - Factors to watch on Aug 22

ZURICH, Aug 22 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4 percent firmer at 8162 points on Monday, according to premarket indications by bank Julius Baer .

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

SYNGENTA

A U.S. regulator has cleared ChemChina’s $43 billion takeover of Swiss pesticides and seeds group Syngenta SYNN.S, the companies said on Monday, boosting chances that the largest foreign acquisition ever by a Chinese company will go through.

For more news see

ZURICH INSURANCE

Swiss Sunday paper NZZ am Sonntag said Zurich Insurance could sack up to 380 managers -- a fifth of its 1,900 executives around the world, 1,300 of them in Switzerland -- under a streamlining drive by new Chief Executive Mario Greco.

For more news see

CREDIT SUISSE

The bank has no plans at present to pass on negative Swiss interest rates to retail clients, Thomas Gottstein, head of the bank’s Swiss business, tells SonntagsBlick paper.

COMPANY STATEMENTS

* Actelion said it has purchased 10 million of its own shares, representing 8.31 percent of issued shares, and completed the buyback it launched nearly three years ago.

* Ascom Holding AG to divest its network testing division to InfoVista; Transaction is based on a cash-free/debt-free enterprise value of $45 million; Will receive $30 million in cash at closing and the remainder of the consideration in the form of a subordinated vendor loan with a nominal value of $15 million, a 7-year maturity and a stated interest rate of 4 pct p.a.

* Eastern Property Holdings Ltd acquires “Work Life Center” in Hamburg

ECONOMY

The Swiss National Bank releases sight deposits data at 0800 GMT.

Reporting by Zurich newsroom

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below