April 1, 2014 / 4:57 AM / 4 years ago

Swiss stocks - Factors to watch on April 1

ZURICH, April 1 (Reuters) - Swiss stocks were expected to open higher on Tuesday, taking their cue from gains in Asian and U.S. stocks overnight and with investors set to focus on a raft of manufacturing data from Europe and the United States later in the day.

The Swiss blue-chip index was seen rising 0.1 percent to 8,462 points, according to premarket indications by bank Julius Baer.

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


Top banks around the world benefit from an assumption that governments will rescue them during a panic, despite regulations meant to reduce the need for future bailouts, the International Monetary Fund said in a report on Monday.

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UBS said on Tuesday that board member Rainer-Marc Frey will not stand for reelection at the Swiss bank’s May 7 shareholders meeting because he is taking on additional, undisclosed professional committments elsewhere.

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* Schaffner said it acquired Transformer Engineering LLC (Trenco), Magnetics Technologies LLC and Transformer Real Estate LLC from Cleveland, OH-based for around 9 million Swiss francs ($10.15 million).

* Swiss bourse SIX said it increased its stake in the Luxembourg financial services provider to 100 percent from 50 percent, further strengthening its position as a leading provider of financial services in Europe.

* Leclanche says it has received a letter from institional investor Precept stating it is considering creating a global energy storage platform, which could include the Swiss firm. Discussions are at a preliminary stage and this may or may not lead to a transaction, Lechlanche said.

* Valora said its board promoted Thomas Eiseleto join top management, effectively immediately, and that Cornelia Ritz Bossicard will replace Conrad Loeffel, who is not standing for reelection to the company’s board.

* Myriad said it has seen a 24 per cent increase in its MSNGR chat service, with total registered subscribers jumping to 50 million in the first quarter from 38 million at the end of last year.


March PMI due at 0730 GMT

$1 = 0.8870 Swiss Francs

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