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Swiss stocks - Factors to watch on Dec 26
December 27, 2016 / 6:12 AM / in a year

Swiss stocks - Factors to watch on Dec 26

ZURICH, Dec 27 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 8,241 points on Tuesday, according to premarket indications by bank Julius Baer .

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


The SIX Swiss Exchange said U.S. hedge fund founder Dan Och, of Och-Ziff Capital Management Group, through a variety of investment vehicles holds more than 3.1 percent of shares in Swiss biotech Actelion that is being courted by possible buyers including Johnson & Johnson.

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Newspaper Schweiz am Sonntag reported Leonteq founder and CEO Jan Schoch’s online bank for millionaires, Flynt, might have flopped before it ever got started, with its two main proponents having jumped ship, the launch date postponed and licensing challenges with FINMA. Schoch remains Leonteq’s second-biggest shareholder, according to Reuters data.

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SonntagsZeitung reported it is possible that the Swiss drugmaker’s name change to Vifor Pharma and the float of its pharmacy business Galenica Sante on the stock exchange will take place in the first half of 2017, citing an interview with Chairman Etienne Jornod. With the proceeds from the share sale, Vifor will be able to refinance the 1.6 billion Swiss franc acquisition of U.S.-based Relypsa without having to resort to a capital increase, the paper reported.

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* Sonova said that MFS Investment Management cut its stake in half to 4.97 percent from previously 9.94 percent.

* Newron Pharmaceuticals said Dennis Dionne, Executive Director for Commercial Operations since 2015, has been appointed to the Company’s Senior Management Team as Vice President Commercial Affairs, effective January 1, 2017. He will replace Anders Haegerstrand, who is leaving the company.

* Orascom Development Holding AG said its board has approved the voluntary delisting of all Egyptian Depositary Receipts (EDRs) of the company from the Egyptian Exchange.

* Helvetia Holding AG said it now holds 100 percent of the Chiara Assicurazioni after acquiring a minority stake for 20 million euros ($20.89 million).


$1 = 0.9576 euros Reporting by Zurich newsroom

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