July 21, 2017 / 4:51 AM / a month ago

Swiss stocks - Factors to watch on July 21

ZURICH, July 21 (Reuters) - The Swiss blue-chip SMI was seen opening flat at 9,029 points on Friday, according to premarket indications by bank Julius Baer.

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

SWATCH

Swatch Group said it expected "very positive growth in local currency" in the second half of 2017, after net profit improved by 7.2 percent in the first six months of the year, helped by a timid improvement in global demand for Swiss watches.

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LANDIS+GYR

The Swiss smart meter maker said it had priced its initial public offering (IPO) at 78 Swiss francs per share, giving it a market capitalization of 2.3 billion Swiss francs ($2.4 billion).

COMPANY STATEMENTS

* Amgen said the FDA has accepted its biologics license application for Aimovig, will be jointly commercialized in the United States by Amgen and Novartis.

* Forbo said in on-going antitrust proceedings brought against Forbo Flooring Systems and other competitors in France in 2013, Forbo Flooring Systems France needs to anticipate one-off costs of around 85 million Swiss francs. Adjusted for this extraordinary effect, the company confirmed its positive guidance of spring 2017.

* BB Biotech said second-quarter net income amounted to 103 million Swiss francs, compared to 36 million for same period in 2016​.

* SFS said first-half net income improved by 20.8 percent compared with the previous-year period, amounting to 56.9 million Swiss francs. It expects positive trends in sales and profits to continue in the second half of 2017 but growth momentum will subside somewhat in comparison with the first half of the year.

* SHL Telemedicine disclosed write-offs and extraordinary items for full-year 2016. These extraordinary items along with other items will negatively impact its equity by approximately $9.3 million, the company said. ​​

* Cassiopea posted first-half loss after taxes of 9.3 million euros compared to a 8.5 million loss a year earlier.

* Ypsomed said its distribution agreement with Insulet Corp. will end as per June 30, 2018 because the parties could not agree on extending the contract.

* Vifor Pharma said the European Commission has approved patiromer to be marketed as Veltassa in the 28 EU countries for the treatment of elevated serum potassium levels (hyperkalaemia) in adult patients.

* Conzzeta announced the signing of a binding agreement for the full acquisition of Otto Bock Kunststoff, which is domiciled in Duderstadt, Germany and generated net revenue of around 130 million euros in 2016. The parties have agreed not to reveal the purchase price, Conzzeta said.

* CPH Chemie und Papier Holding posted a net result for first half of 2017 of–2.2 million francs. The company said it is confident of reporting a positive net result for the year.

ECONOMY

Reporting by Zurich newsroom

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