October 10, 2016 / 4:45 AM / in a year

Swiss stocks - Factors to watch on Oct 10

ZURICH, Oct 10 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 8,134 points on Monday, according to premarket indications by bank Julius Baer .

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


Givaudan said its chairman and finance chief will stand down next year, as the Swiss fragrance and flavour maker saw slower like-for-like sales growth in the third quarter of 2016.

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Cement maker LafargeHolcim agreed to sell its majority-held Chilean business, Cemento Polpaico, to investment firm Inversiones Caburga Limitada. Caburga, part of the Hurtado Vicuna Group, agreed to buy the Swiss-French firm’s 54.3 percent stake with a roughly 220 million Swiss franc ($225 million) enterprise value via a public tender offer, LafargeHolcim said late on Friday.

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Lung cancer patients on Roche’s immune system-boosting drug Tecentriq lived on average 4.2 months longer than those taking chemotherapy in a pivotal study, pressuring Bristol-Myers Squibb’s dominant position in the field.

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The Swiss franc remains “significantly overvalued,” the head of the Swiss National Bank said on Saturday, although he said there were no plans at present to push rates further into negative territory.


Credit Suisse has placed five employees on leave while it carries out an internal investigation related to tax matters, the Swiss bank said on Sunday. Swiss newspaper SonntagsZeitung reported earlier the bank’s action was in connection with a U.S. investigation into Credit Suisse’s Israeli unit over possible tax evasion.

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Tom De Swaan plans to stand for re-election as the insurer’s chairman, he told Swiss paper NZZ am Sonntag.

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It’s still too early to say whether UBS will move jobs out of London post-Brexit, the bank’s head of wealth management Juerg Zeltner said in an interview with Swiss paper Sonntagszeitung published on Sunday.

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The asset management arm of insurer Swiss Life is buying Mayfair Capital, a London-based property investment and management company with a portfolio valued at around 1 billion pounds ($1.24 billion), Mayfair said on Monday.

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* Julius Baer said it has appointed Régis Burger as CEO Julius Baer (Middle East) ltd. effective Oct. 1.

* Molecular Partners announced additional details about its ongoing clinical oncology programme MP0250.

* Gottex Fund Management Holdings said William Woolverton, senior managing director and general counsel, and a member of the executive management committee, will be leaving the Company in October. Sonia Bhasin-Woods will be joining Gottex as Mr. Woolverton’s successor, the company said.

* Acron Swiss Premium Assets AG published an offer of 95 Swiss francs per share for all public shares of Acron Helvetia VII Immobilien.


* The Swiss unemployment rate in September was a non-seasonally adjusted 3.2 percent, unchanged from the previous month, the State Secretariat for Economic Affairs said on Monday.

* The Swiss National Bank releases sight deposits data at 0800 GMT.

$1 = 0.9768 Swiss francs Reporting by Zurich newsroom

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