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Swiss stocks - Factors to watch on March 12
March 12, 2015 / 6:42 AM / 3 years ago

Swiss stocks - Factors to watch on March 12

ZURICH, March 12 (Reuters) - The Swiss blue-chip SMI was seen opening up 0.1 percent at 9,112 points, according to premarket indications by bank Julius Baer.

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

HOLCIM

The Swiss company and French cement group Lafarge are in talks to renegotiate the terms of their 41 billion euro merger after a divergence in the value of the two companies over the past year, the Financial Times reported.

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CREDIT SUISSE

Incoming Credit Suisse boss Tidjane Thiam is expected to focus on private banking in Asia while aggressively cutting jobs at its investment bank, as he aims to repeat the success in the region of his old employer, Prudential.

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COMPANY STATEMENTS

* Swatch published its 2014 annual report which showed Chief Executive Nick Hayek received total compensation last year of around 7.5 million Swiss francs, slightly less than the previous year.

* Sika’s board of directors published its required report on the decision last week of the Swiss Takeover Board, in which the company’s board repeated its opposition to the planned takeover by Saint-Gobain.

* Meyer Burger said it had successfully concluded a contract with renewable energy development company SunEdison for the delivery and commissioning of DW288 water-based diamond wire saws. The order is for an upper single-digit million Swiss franc amount and delivery of the equipment is scheduled to begin in the second quarter of 2015.

* Tamedia said 2014 net income rose year on year by 34.1 percent to 159.7 million Swiss francs.

* Dufry said net earnings to equity holders fell by 45.5 percent in 2014 to 50.8 million Swiss francs.

* gategroup said 2014 net profit nearly doubled compared to last year, rising to 40.8 million Swiss francs from 21 million francs, mainly due to lower net finance costs.

* Kardex posted net profit for 2014 of 23.8 million euros, up 19.6 percent on that of the previous year.

* Schmolz&Bickenbach said net income in 2014 came to 50 million euros compared to an 83.7 million euro loss the previous year.

* Inficon said 2014 net profit rose by 9.3 percent to $38.6 million.

* Alpiq said it is acquiring Italian engineering and railway contracting company Balfour Beatty Rail for an undisclosed price.

ECONOMY

Reporting by Zurich newsroom

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