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Swiss stocks - Factors to watch on May 11
May 11, 2017 / 4:38 AM / 4 months ago

Swiss stocks - Factors to watch on May 11

ZURICH, May 11 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent higher at 9,106 points on Thursday, according to premarket indications by bank Julius Baer .

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

ZURICH INSURANCE

The Swiss insurer posted a 31 percent fall in first-quarter net earnings as a February change to British reserving rates impacted property and casualty insurers’ financial results in the country. Shares were indicated 1.1 percent higher.

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UBS

Solium Capital Inc said it anticipates entering into an agreement with UBS Financial Services Inc, on terms that have been agreed to in principle. Under new agreement, UBS customers will upgrade to a UBS branded version of Shareworks, Solium’s stock plan administration platform, Solium Capital said.

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COMPANY STATEMENTS

* Roche said new data on 20 approved and investigational medicines will be presented during the American Society of Clinical Oncology (ASCO) annual meeting from June 2-6 June in Chicago.

* Clariant said its healthcare packaging manufacturing facility in Dongguan, Guangdong Province, China, recently obtained ISO 15378:2011 certification for production of desiccant packets for healthcare applications.

* Straumann wants to acquire a stake in German 3D-printing firm Rapid Shape and is willing to pay a double-digit million amount for it, CEO Marco Gadola told Handelszeitung.

* Sunrise said first-quarter net income almost doubled year on year to 13 million Swiss francs and that it was reiterating its full-year 2017 guidance. The company also announced changes in its executive team, including Bruno Duarte joining Sunrise on June 12 as its new chief consumer officer.

* Bellevue Group said it made a mistake in its annual results that results in a net loss of 0.7 million Swiss francs for 2016, instead of the initially reported 1.3 million loss. The overall loss of 1.7 million francs for the year remains unchanged.

* Lonza said it successfully completed the rights offering approved by the annual general meeting last month.

* Implenia said authorities had contacted Implenia Baugesellschaft GmbH in Vienna as part of an investigation by Austria’s public prosecutor into around 20 civil engineering firms.

* Schaffner said net sales in the first half of 2016/17 rose 2.2 percent year on year to 94.6 million Swiss francs, while net profit improved to 4.2 million francs from 0.4 million. The company said it was “confident” of exceeding the results of the same period last year in the second half of 2016/17.

ECONOMY

* Swiss consumer price data for April due at 0715 GMT. Analysts in a Reuters poll expect consumer prices to rise 0.5 percent year-on-year and 0.2 percent versus the previous month.

Reporting by Zurich newsroom

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