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Swiss stocks - Factors to watch on June 18
June 18, 2013 / 4:57 AM / 4 years ago

Swiss stocks - Factors to watch on June 18

ZURICH, June 18 (Reuters) - Swiss stocks were seen opening lower on Tuesday, mirroring other European exchanges weighed by concerns about an end to U.S. monetary stimulus ahead of a Federal Reserve meeting later in the week.

The Swiss blue-chip SMI was seen 0.1 percent lower at 7,724 points, according to premarket indications from bank Julius Baer. The following are some of the main factors expected to affect Swiss stocks on Tuesday:

BANKS

* Switzerland’s lower house is due to decide whether to address a bill aimed at ending a long-running U.S. tax probe into hidden offshore accounts at Swiss banks.

* Portugal’s Banco Espirito Santo is vying with Spain’s Bankinter to buy the BSI private banking unit of Italian insurer Assicurazioni Generali, a source close to the situation said on Monday.

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WATCHES

French luxury and sports brands group PPR is in talks to buy control of Richard Mille, one of the most expensive watch brands on the market, an industry source with first-hand knowledge of the matter told Reuters.

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COMPANY STATEMENTS

* Temenos, the market leading provider of mission critical software to the banking industry, today announces a share buyback programme for 2013 of up to three million shares for cancellation

* SGS SA announces today that an Extraordinary General Meeting of Shareholders will be held on Wednesday, 10 July 2013, at 11 a.m.

* Feintool International Holding AG : Expiry of exercise period for subscription rights offer - 54 997 Feintool shares subscribed under rights offer

* Georg Fischer : The registered shares of Georg Fischer Ltd, Schaffhausen will be traded on the Domestic Standard of SIX Swiss Exchange Ltd as of 28 June 2013. The last trading day on the Main Standard is 27 June 2013. The Georg Fischer shares will remain in the SMIM and SPI indices of the SIX Swiss Exchange.

ECONOMY

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