January 22, 2015 / 5:56 AM / 3 years ago

Swiss stocks - Factors to watch on Jan 22

ZURICH, Jan 22 (Reuters) - Swiss stocks were expected to idle on Thursday, as investors awaited details of a sovereign bond-buying programme that the European Central Bank is seen likely to announce at a press conference at 1330 GMT.

The Swiss blue-chip SMI was seen opening up 0.1 percent at 8,018 points, according to premarket indications by bank Julius Baer.

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


Credit Suisse said it had not made losses trading foreign exchange after Switzerland’s central bank suddenly abandoned a currency cap last week, causing a surge in the Swiss franc.

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The U.S. Food and Drug Administration approved Novartis AG’s injectable drug, Cosentyx, to treat adults with a moderate to severe skin disease called plaque psoriasis.

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* Logitech said it is raising its outlook for full-year non-GAAP operating income to roughly $185 million from $170 million, but lowering its sales outlook to $2.11 billion from $2.16 billion to reflect the stronger US dollar.

* Sika said prominent mutual funds which are backing management’s efforts to thwart a 2.75 billion Swiss franc ($3.20 billion) takeover by French building materials company Saint-Gobain have reinforced their opposition to the deal and lodged several requests, in a letter published on the Swiss firm’s website.


The Swiss National Bank is keeping all options open after scrapping a cap on the franc against the euro which would have cost 100 billion francs to defend this month alone, one rate-setter told a Swiss paper.

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Switzerland’s central bank said on Wednesday it had agreed with the People’s Bank of China (PBOC) to establish clearing arrangements in Switzerland for renminbi trading and extend a pilot scheme for clients of Swiss banks.

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$1 = 0.8596 Swiss francs Zurich newsroom +41 58 306 7336,; zurich.newsroom@thomsonreuters.com

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