April 23, 2018 / 5:07 AM / a year ago

Swiss stocks - Factors to watch on April 23

ZURICH, April 23 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent higher at 8,808 points on Monday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks.


Switzerland’s biggest bank on Monday posted a 1.51 billion Swiss franc ($1.55 million) net profit for the first quarter of 2018, helped by a rise in income from its investment bank amid increasing global market volatility.

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British financial trading systems firm Fidessa has ditched a takeover by Swiss banking software business Temenos in favour of a 1.5 billion-pound ($2.1 billion) deal with rival bidder Ion.


Switzerland’s sovereign money initiative said supporter Michael Derrer submitted a complaint against Switzerland’s central bank, federal council and conference of cantonal finance directors to the canton of Aargau’s governing council for providing misinformation in relation to the initiative, which heads to the polls on June 10.


Assets totalling between $1.5 billion and $2 billion have been frozen as a result of sanctions imposed on Russian oligarch Viktor Vekselberg and his Renova Group conglomerate, two sources close to the matter told Reuters on Saturday. Renova, which is headquartered in Moscow and has a subsidiary in Zurich, intends to maintain its Swiss holdings and is seeking the help of Swiss authorities in clearing up business matters.


The chief executive of Lufthansa subsidiary Swiss told Swiss newspaper SonntagsZeitung the group is on track for another passenger record year if things continue as they have so far. CEO Thomas Kluehr says he’s convinced Swiss will once again reach margins over 8 percent this year. A stronger euro versus the Swiss franc will cause short-term negative effects for the airline due to more expensive imported supplies, he said, but will ultimately have a positive impact in the long-run as it strengthens the Swiss export economy.


Vontobel is on the right track with its strategy of organic growth—as opposed to growth through acquisitions, Chief Executive Zeno Staub told newspaper Finanz und Wirtschaft. The CEO said he plans to stay as long as he and the bank’s investors remain confident in his contributions.


* Roche said new Ocrevus data released at a conference demonstrate reductions in disease activity and disability progression in relapsing multiple sclerosis.

* Arbonia said on Friday it had successfully place certificates of indebtedness for 125 million euros.

* Investis said on Friday said it had purchased 40 percent of the shares of Yetivisit to expand in digital real estate services, without giving financial details.

* Glarner Kantonalbank said first-quarter net income rose 7.3 percent to 5.2 million francs.

* Swiss Prime Site said Elisabeth Bourqui has decided to resign from the board after being named chief investment officer of the California Public Employees’ Retirement System.

Reporting by Zurich newsroom

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