August 24, 2018 / 4:48 AM / a month ago

Swiss stocks - Factors to watch on Aug. 24

ZURICH, Aug 24. (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 9,056 points on Friday, according to premarket indications by bank Julius Baer .

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

CREDIT SUISSE

The bank said it remained committed to Russia after it ringfenced 5 billion Swiss francs ($5.02 billion) of customer money linked to Russia for fear of falling foul of U.S. sanctions.

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COMPANY STATEMENTS

* St Galler Kantonalbank said it planned to raise 29.4 million francs in new capital through a capital raising.

* Bachem Holding reported an increase in its first-half net income to 16.5 million Swiss francs.

* ABB is considering a sales of its power grids business, Bloomberg reported.

* Datwyler said it had bought Brazilian automotive supplier BINS for an undisclosed sum.

* Meier Tobler said its first half EBITDA rose to 9.7 million Swiss francs from 6.2 million francs a year earlier.

* Kuehne + Nagel said it had established a joint venture with Chinese automotive logistics company Sincero.

* Mobilezone said its first-half consolidated profit grew by 23 percent to 16.8 Mln francs.

* U Blox said its H1 net profit increased by 39 percent to 25.1 mln francs.

* Adval Tech Holding said its net profit rose to 7.8 million francs in the first six months of 2018.

* Nebag said its first half income fell to 6.8 million francs.

Reporting by Zurich newsroom

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