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Swiss stocks - Factors to watch on Oct 7
October 7, 2016 / 5:30 AM / a year ago

Swiss stocks - Factors to watch on Oct 7

ZURICH, Oct 7 (Reuters) - The Swiss blue-chip SMI was seen opening little changed at 8,177 points on Friday, according to premarket indications by bank Julius Baer .

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


Moody’s downgraded Julius Baer Group’s high-trigger AT1 securities by one notch to Baa3(hyb)

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* Nestle said it opened a new infant formula factory in Mexico, representing an investment of $245 million.

* Swiss bourse SIX said it had appointed Daniel Schmucki as new its chief financial officer (CFO) at SIX, joining from Flughafen Zuerich. He will take up his role on April 1, 2017 at the latest, SIX said.

* Newron Pharmaceuticals said has raised gross proceeds of 26.1 million Swiss francs through a private placement of new shares via an accelerated book building procedure announced on Thursday. It had placed 1,320,530 new shares with institutional investors at a subscription price of 19.75 francs per share. The new shares represent 8.4 percent of the new total number of outstanding shares.

* After EMS Chemie raised net sales 3.7 percent in the first nine months of 2016 to 1.5 billion Swiss francs, the group expects net sales and EBIT slightly above 2015 levels for the full year.

* Crealogix said Beat Schmid has decided to step down from the company’s board of directors. Ralph Mogicato will be proposed as his replacement at the group’s annual general meeting on Oct. 31.

* GAM said Group Head of Communications Larissa Alghisi Rubner has decided to leave the leave the company and will be replaced by Senior Communications Manager Elena Logutenkova, effective Nov. 1.

* New Venturetec on Thursday said it expects a consolidated net loss of approximately $60.0 million for its 2015-16 reporting year.


* IMF data on Swiss National Bank foreign currency reserves in September due at 0700 GMT

$1 = 0.9823 Swiss francs Reporting by Zurich newsroom

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