June 27, 2016 / 5:25 AM / 2 years ago

Swiss stocks - Factors to watch on June 27

ZURICH, June 27 (Reuters) - The Swiss blue-chip SMI was seen opening 1.4 percent lower at 7,638 points on Monday, according to premarket indications by bank Julius Baer .

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

CREDIT SUISSE

The bank may sell a property it owns on Zurich’s famed Bahnhofstrasse, it said, citing overcapacity and saying the possible sale had nothing to do with strengthening its balance sheet.

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ABB

The power and automation company has dismissed reports it could buy German robot maker Kuka, the Swiss company’s chief executive, Ulrich Spiesshofer, wrote in a memo to staff.

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PICTET

The private bank’s revenue in the first half of the year is lower than it was in the same period last year, but customer demand remains strong, its incoming senior partner Nicolas Pictet is quoted as saying by Swiss newspaper Le Temps.

COMPANY STATEMENTS

* Sonova said it was launching a lithium-ion rechargeable hearing aid.

* Implenia said it signed a contract for construction of the “Lot GC01” section of the Line 11 extension to the east of Paris.

* Kuoni Travel Holding filed an application for exemption from certain obligations for maintaining its listing.

* HNA Aviation (Hong Kong) Air Catering Holding Co., Ltd., Hong Kong, a subsidiary of HNA Group Co., Ltd., published the offer prospectus on the public tender offer for all publicly held shares of gategroup Holding AG.

* Alpiq said it is expanding its existing cooperation with the German STEAG to help expand its international market presence for the dismantling of nuclear installations.

* WISeKey, a Swiss-based cyber security company, announced plans to help secure Internet of Things (IoT) devices with SAP.

* PAION AG, a specialty pharma company, and Cosmo Pharmaceuticals subsidiary Cosmo Technologies Ltd. have entered into a license agreement for remimazolam.

* Newron Pharmaceuticals, a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central nervous system (CNS) and pain, said it is sponsoring a study to evaluate the burden of disease experienced by patients with Rett syndrome and their families.

* Basilea Pharmaceutica said it has launched its new azole antifungal CRESEMBA (isavuconazole) in Italy and will sponsor a continuing medical education event on current challenges and recent developments in the management of invasive fungal infections in Bologna, Italy.

ECONOMY

* Data on sight deposits held at the Swiss National Bank due at 0800 GMT.

* Global economic policy urgently needs rebalancing, the Bank for International Settlements (BIS) said, as the world faces a “risky trinity” of high debt, low productivity growth and dwindling firepower at the world’s big central banks.

* Major central banks will limit market turbulence as much as possible after Britain voted to leave the European Union, the head of the Bank for International Settlements said.

* Central banks are ready to cooperate to support financial stability in the wake of Britain’s vote to leave the European Union, the Bank for International Settlements said.

* The Swiss National Bank should do everything to ensure the Swiss franc does not strengthen beyond a rate of roughly 1.10 against the euro, the head of business lobby Economiesuisse was quoted as saying in newspaper Schweiz am Sonntag.

Reporting by Zurich newsroom

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