October 17, 2016 / 4:55 AM / a year ago

Swiss stocks - Factors to watch on Oct 17

ZURICH, Oct 17 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent lower at 8,072 points on Monday, according to premarket indications by bank Julius Baer .

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


Roughly 15 Swiss banks are in a “red zone” of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog FINMA told SonntagsZeitung.

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The cement giant’s Chief Executive Eric Olsen is increasingly confident the firm will meet its 2016 targets for merger-related savings and underlying profit, he told Swiss newspaper Finanz und Wirtschaft.

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The head of shareholder advisory firm Ethos told newspaper Schweiz am Sonntag that spinning off the engineering group’s Power Grids business would be “an important step for the company”.

Ethos would seek to hold talks in the coming weeks with ABB, which has rejected the spin-off, and with ABB’s second-biggest shareholder, Cevian, which has pushed for it, he said.

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Sinochem International Corp, a unit of state-owned Sinochem Group, said it has received no information regarding a proposed merger of its parent company with rival ChemChina, which is in the process of a $43 billion takeover of Syngenta.

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* Genentech, a member of the Roche, said the U.S. Food and Drug Administration (FDA) approved the Lucentis0.5 mg prefilled syringe as a new method of administering the medicine.

* Implenia said it is appealing to the Swiss Supreme Court to overturn the Zurich High Court’s ruling of Sept. 15 in the case about outstanding payments for the construction of the Letzigrund Stadium.

* Addex Therapeutics said it will conduct a Phase IIa Proof of Concept Study of dipraglurant in focal cervical dystonia (CD). The company said it expects to initiate the trial in the fourth quarter of 2016.

* CPH Chemie und Papier Holding’s Chemistry Division Zeochem has acquired an industrial site in Bosnia and Herzegovina to build a new production facility.

* Orascom Development Holding signed a three years rental agreement for 3.3 million euros per annum with FTI Group for 3 hotels in Makadi through its Egyptian subsidiaries.

* Valora Holding said BlackRock’s holdings of the company totalled 2.99 percent as of Oct. 13.

* BV Holding said net profit as of Sept. 30 was 15.8 million Swiss francs.

* Investis Holding said it had successfully issued a 100 million Swiss franc fixed-rate bond with a coupon of 0.55 percent and a maturity of five years on the market. The proceeds are to be used for the partial repayment of mortgages.

* Molecular Partners said Tarek S. Hassan, MD presented the data of PALM, A Multicenter, Double Masked Phase 2 Clinical Trial Evaluating Abicipar Pegol for Diabetic Macular Edema (DME) at the American Academy of Ophthalmology Annual Meeting (AAO) 2016 in Chicago.


* The Swiss National Banks releases sight deposit data at 0800 GMT.

* In its 16th and final currency report under President Barack Obama, the Treasury said it added Switzerland to a foreign exchange “monitoring list” of countries with high external surpluses or currency market intervention. Switzerland got on the list because of its trade growth with the United States in the past year, a large current account surplus and consistent purchases by the Swiss National Bank of foreign assets since it abandoned last year what was effectively a euro peg. (Reporting by Zurich newsroom)

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