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Swiss stocks - Factors to watch on July 14
July 14, 2017 / 5:06 AM / 2 months ago

Swiss stocks - Factors to watch on July 14

ZURICH, July 14 (Reuters) - The Swiss blue-chip SMI was seen opening little changed on Friday, according to premarket indications by bank Julius Baer.

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

RICHEMONT

Richemont on Friday announced the immediate resignation of its watchmaking head Georges Kern, leaving a gap in the company’s top talent as it presses forward with a turnaround in its watch business.

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COMPANY STATEMENTS

* Security group Dormakaba has bought Canadian firm Skyfold, a maker of vertically folding retractable walls, for C$109 million ($85.60 million). The Swiss group said it expects the purchase to positively impact its earnings before interest, tax, depreciation and amortisation margin “from the first day on”.

* The board of EMS Chemie will this year propose a dividend of 17 Swiss francs ($17.59) per share after EMS reported a 5.8 percent rise in net operating income to 280 million francs in the first half of 2017.

* Hearing aid maker Sonova’s Franz Petermann, head of e-marketing and a member of the management board, will be leaving the company to pursue private investment and business endeavours, the group said late on Thursday.

* Schlatter Industries expects net profit of 1.3 million Swiss francs for the first half of 2017, up from 0.1 million francs in the prior-year period.

ECONOMY

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$1 = 1.2733 Canadian dollars $1 = 0.9667 Swiss francs Reporting by Zurich newsroom

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