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Swiss stocks - Factors to watch on June 29
June 29, 2017 / 4:09 AM / 3 months ago

Swiss stocks - Factors to watch on June 29

ZURICH, June 29 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4 percent higher at 9,110 points on Thursday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks:

NESTLE

Nestle’s plan to shore up its capital structure, announced only days after being thrust into the spotlight by activist shareholder Third Point, was received by investors as a precursor to bigger changes under the company’s new leadership.

Fitch Ratings downgraded Nestle SA’s Long-Term Issuer Default Ratings (IDR) and senior unsecured ratings to ‘AA-’ from ‘AA’, and affirmed the company’s Short-Term IDR at ‘F1+'. The Outlook on the Long-Term IDR is Stable. The downgrade follows Nestle’s announcement of a 20 billion franc share buy-back programme

S&P cuts NESTLE rating to ‘AA-’ from ‘AA’; outlook ‘stable’

Moody’s affirms Nestle’s Aa2 rating; stable outlook

For more news see {NESN.S]

NOVARTIS

The European Commission has approved expanding the use of Zykadia (ceritinib) to include the first-line treatment of patients with advanced non-small cell lung cancer (NSCLC) whose tumours are anaplastic lymphoma kinase (ALK)-positive, the Swiss drugmaker said.

Shares indicated up 0.9 percent

LOGITECH

Computer peripherals maker proposes 10 percent annual increase for FY17 dividend, nominates two new directors to board

Shares indicated up 1 percent

COMPANY STATEMENTS

* Kuros Biosciences AG sold 1,151,606 new shares (excluding an over-allotment option of up to 200,000 shares) to existing and new investors at a price of CHF 12.50 per share

* Schindler Holding AG is to fully acquire German Dralle Aufzuege Gmbh & Co KG

* Lifewatch AG says BioTelemetry holds 96.5 percent of share capital of Lifewatch; in light of successful public tender offer from Biotelemetry Inc entire board of directors of Lifewatch is resigning as of july 21; ‍proposes creation of additional conditional capital of up to 50‘000 shares

* Cosmo Pharmaceuticals NV says Remimazolam successfully concludes phase III clinical trial for procedural sedation in bronchoscopy​​

* Vectura Group Plc has signed an exclusive development and licence agreement with Novartis division Sandoz for development of a generic of an existing major inhaled combination therapy for asthma and COPD in U.S.​

* SHL Telemedicine Ltd said two independent directors of the board were elected at a shareholder meeting on Wednesday.

* HIAG Immobilien Holding AG and extend rental agreement in Dietikon

ECONOMY

Reporting by Zurich newsroom

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