December 19, 2017 / 6:01 AM / a month ago

Swiss stocks - Factors to watch on Dec 19

ZURICH, Dec 19 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 9,466 points on Tuesday, according to premarket indications by bank Julius Baer .

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

ECONOMY

The Swiss government raised its outlook for economic growth this year and next, the latest sign of the country’s export-led economy picking up momentum.

The Swiss government would consider countermeasures should the European Commission decide not to recognise Swiss bourse rules as equivalent to EU standards, thus hampering cross-border trade, President Doris Leuthard told Swiss television. A decision in Brussels is due on Wednesday. Broadcaster SRF reported Brussels wanted to grant such recognition for only one year and link any extension to progress on a new treaty the EU wants to replace a patchwork of bilateral accords with Switzerland.

COMPANY NEWS

SWISS RE

Moody’s affirms Swiss Re’s Aa3 IFS and senior debt ratings; outlook stable

COMPANY STATEMENTS

* Straumann Holding AG ‍acquires Same Day Solutions (SDS), a dental distribution company in Portugal​

* UBS Fund Management (Switzerland) AG, the fund management company of the listed Swiss UBS Real Estate Funds, has decided to reduce the effectively applied flat fee by around 6 percent to 0.77 percent per annum as of January 1.

* Schmolz + Bickenbach published key elements of its offer to take over a substantial part of Asco Industries’ assets. The offer includes a financial commitment of 135 million euros ($159 million)including investments.

* Panalpina said it was buying the Belgian companies Adelantex and AD Handling, specialised in the handling of perishables imports in Brussels, Liège and Ostend. The financial details of the deal were not disclosed.

* Sika said it has opened its 100th national subsidiary after setting up in Bangladesh.

* LLB Group said it was on track to implement its StepUp2020 strategy and was engaged in discussions on growth through acquisition.

* Airesis said its Chief Financial Officer Yves Corthés has decided to leave the company on March 1, 2018 for a new challenge

* Coltene, a maker of dental supplies, said it has bought Kenda, a Liechtenstein-based maker of silicone polishing instruments for dentistry applications.

* Peach Property Group said it has acquired a portfolio of 172 residential units in Bochum, Germany.

* Banque Profil de Gestion has submitted an offer to buy an asset manager with around 2 billion francs in assets under management. The name of the target was not disclosed.

$1 = 0.8480 euros Reporting by Zurich newsroom

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below