September 29, 2016 / 5:00 AM / a year ago

Swiss stocks - Factors to watch on Sept. 29

ZURICH, Sept 29 (Reuters) - The Swiss blue-chip SMI was seen opening 0.6 percent higher at 8,273 points on Thursday, according to premarket indications by bank Julius Baer .

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


The bank has agreed to pay more than $15 million to settle U.S. Securities and Exchange Commission charges that its failure to properly train brokers led to customers buying hundreds of millions of dollars of unsuitable securities.

Separately, the bank’s Chief Executive Sergio Ermotti is due to addresses Bank of America Merrill Lynch financial conference in London at 0700 GMT.

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CREDIT SUISSE Credit Suisse and Barclays are in mortgage-settlement talks with the U.S. Department of Justice, Bloomberg reported, citing sources. A Credit Suisse deal could be announced within several weeks, a source familiar with the matter told Bloomberg.

Separately, the bank said it was appointing former-UBS banker Tsuneaki Hirao as Head of Private Banking Japan.

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The biotech group said it will investigate an all-oral combination therapy for patients with relapsing multiple sclerosis (RMS), calling it the first study of this approach for treating the neurological disorder.

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The company’s finance chief Alan Hippe did not expressly rule out Roche’s buying Novartis’s stake in the Swiss drugmaker, the Tages-Anzeiger newspaper cited an analyst note as saying.

The pharma company also said the U.S. Food and Drugs Administration has granted it label extension for cobas EGFR mutation test for use with plasma as a companion diagnostic for Tagrisso.

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COMPANY STATEMENTS * Meyer Burger said it is launching a comprehensive structural programme to increase profitability. As a result of the structural programme, its total operating cost base will further decline by about 50 million Swiss francs ($51.53 million). * Goldbach Media Group said SevenOne Media has exercised its contractual option early to extend its successful cooperation with its subsidiary Goldbach Media (Switzerland) AG.

* Gottex Fund Management Holdings said it was postponing the publication of its first half 2016 results to October.

* Aevis Victoria said more than 50 percent of the shares of Generale Beaulieu Holding have been sold to Swiss Medical Network SA.

* Looser Holding said AFG Arbonia-Forster-Holding AG has published the offer prospectus relating to the public purchase and exchange offer for all registered shares of Looser held by the general public.


Reporting by Zurich newsroom

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