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Swiss stocks - Factors to watch on May 2
May 2, 2017 / 4:40 AM / 8 months ago

Swiss stocks - Factors to watch on May 2

ZURICH, May 2 (Reuters) - The Swiss blue-chip SMI was seen opening flat at 8,816 points on Tuesday, according to premarket indications by bank Julius Baer.

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


The Swiss bank paid $445 million to settle claims that the Swiss bank sold toxic mortgage securities that helped sink two federal credit unions, a U.S. regulator said.

A former UBS banker who as a whistleblower helped U.S. authorities prosecute the Swiss bank for tax fraud, only to spend 2-1/2 years in prison for helping a billionaire client evade taxes, on Monday filed a $20 million libel lawsuit against his former employer.

U.S. federal prosecutors subpoenaed several banks last month as part of a criminal investigation into possible manipulation of the U.S. Treasuries market, Bloomberg reported.

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The shower toilet and plumbing supplies maker reported a 2.1 percent year-on-year rise in first quarter net profit, helped by what it said was a largely positive environment in the construction industry.

Shares were seen opening down 0.7 percent in premarket indications.

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The bank has deployed 20 robots within the bank, some of which are helping employees answer basic compliance questions, the Swiss bank’s global markets chief executive, Brian Chin, said.

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The group will remain in Switzerland after ChemChina’s $43 billion planned takeover, the Swiss company’s chairman told weekly Sonntagszeitung in an interview published on Sunday.

As the Indian regulatory authority made no announcement by March 21, the company assumed that it has Indian approval, Michel Demare said. Syngenta, which will delist from the stock exchange as part of the acquisition, could later hold a new Swiss initial public offering.

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The airport retailer reported first-quarter organic growth of 7.2 percent, helped by growth in the United States and Latin America.

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* Celyad granted to Novartis a non-exclusive license for its allogeneic TCR-Deficient CAR-T Cells Patents.

* OC Oerlikon Corporation AG Pfaeffikon raised its target of group’s sales and orders for full-year 2017 to around 2.6 billion Swiss francs and operating profitability (EBITDA) to approach 14 percent. First-quarter group orders climbed 21.1 percent to 712 million francs and sales increased 2.7 percent to 608 million francs compared to previous year, the company said.

* Lastminute.Com NV said 2017 revenues are seen slightly growing, with EBITDA in line with last year.

* Baloise said it published the definitive interim outcome of its takeover bid for all publicly held registered shares in Pax Anlage AG, with Baloise’s long-term equity investment in Pax standing at 146,224 Pax Anlage Shares, equating to 81.24 percent of the voting rights and the share capital.

* Pax Anlage AG said Paul-Henri Guinand is the new CEO, with Franz Rutzer withdrawing from the post.

* Santhera said it had signed a distribution and supply agreement for Raxone (idebenone) with Pharmathen for Greece and Cyprus.

* Novavest Real Estate said it had acquired the training and education centre of Swiss Federal Railways, SBB.


Swiss retail sales increased 2.1 pct year on year in March, according to data published on Monday.

Swiss PMI due at 0730 GMT. (Reporting by Zurich newsroom)

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