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Swiss stocks - Factors to watch on Oct 12
October 12, 2016 / 5:55 AM / a year ago

Swiss stocks - Factors to watch on Oct 12

ZURICH, Oct 12 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 8,128 points on Wednesday, according to premarket indications by bank Julius Baer .

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


A shareholder group comprising Cascade Investment, the Bill & Melinda Gates Foundation Trust, Columbia Threadneedle Investments and Fidelity International has cut its voting stake in Sika to just below 5 percent, it said on Wednesday. Due to a reduction by Fidelity of its stake, the group said it now held 8.83 percent of Sika’s share capital and 4.9997 percent of voting rights. Its members said they still supported management’s opposition to a takeover by France’s Saint-Gobain , which wants to buy a controlling stake held by Sika’s founding Burkard-Schenker family.


Deutsche Bank’s Asia Pacific wealth management head Ravi Raju is leaving to join UBS, a source with direct knowledge of the move told Reuters on Tuesday.

At the same time, Deutsche Bank has hired Mohamed Atmani as the head of its financial sponsors coverage in Asia Pacific from Swiss bank UBS, the German bank said in an internal memo seen by Reuters on Wednesday.


* BB Biotech saw a 392.1 million franc ($401.41 million) profit in the third quarter based on preliminary results, bringing its loss down to 777.8 million francs in the first nine months, the investor said on Tuesday.

* Aevis Victoria is increasing its 2.0 percent bond issued in September by 15 million Swiss francs, bringing total volume to 145 million francs.

* Kuehne und Nagel is managing BMW’s new global distribution centre inaugurated in Wallersdorf, Germany on Tuesday.


* Swiss ZEW investor sentiment for October released at 0900 GMT ($1 = 0.9768 Swiss francs) (Reporting by Zurich newsroom)

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