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Swiss stocks - Factors to watch on Tuesday
November 3, 2015 / 5:31 AM / 2 years ago

Swiss stocks - Factors to watch on Tuesday

ZURICH, Nov 3 (Reuters) - The Swiss blue-chip SMI was seen opening 0.22 percent up at 8955.37 points on Tuesday, according to premarket indications by bank Julius Baer .

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

UBS

The biggest Swiss bank said net profit in the third quarter was 2.1 billion Swiss francs ($2.13 billion), more than analysts had forecast. Analysts had forecast 1.758 billion francs in a Reuters poll.

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BAER

The Swiss private bank said it acquired independent Geneva wealth manager Fransad Gestion, with 1.3 billion francs under management and 19 employees.

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The SIX Swiss Exchange and SIX Structured Products Exchange in Zurich said on Monday there was more trading turnover in the first ten months of 2015 than in all of 2014, as average daily turnover was 5.6 billion Swiss francs.

COMPANY STATEMENTS

* Roche said it is expanding its cobas 4800 System menu with HIV-1, HCV and HCV genotyping tests.

* Starrag, the Swiss maker of high-precision milling and grinding tools, said it sees a lower operating margin in 2015 than last year as orders decline. Net income fell in the first nine months to 5.5 million Swiss francs ($5.58 million), from 9.4 million francs.

* Burckhardt Compression, the Swiss maker of compressors for the oil and gas industry, said first-half consolidated sales rose nearly 24 percent to 243 million francs, primiarly due to the compressor systems business area.

* Dufry, the global travel retailer operating around 1,700 duty-free and duty-paid shops, said its financial result increased to 117.4 million francs.

* Tornos posted a nine-month loss of 3.45 million francs, from a profit of 1.4 million francs in the 2014 period. The company expects a balanced operating result, provided it can finish major customer projects.

* SFS Group says Jens Breu will succeed Heinrich Spoerry as CEO, a succession that has been prepared over a couple of years and which was announced in 2014.

* Evolva Holding said it sold its former head office at roughly book value.

* Looser Holding AG said the negative environment in China hurt sales of the coatings, services and doors company as it expects revenue to decline up to 12 percent for the full year.

* Intershop Holding says the IPO of Corestate Capital Holding has been called off due to “difficult market conditions” in stock markets in Germany and England. Founders Ralph Winter and Thomas Landschreiber currently hold 70.9 percent of Corestate, with Swiss-based Intershop holding around 28 percent.

ECONOMY ($1 = 0.9864 Swiss francs) (Reporting by Zurich newsroom)

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