ZURICH/BERLIN, Jan 10 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent lower at 8,661 points on Thursday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
The engineering company is putting more power in the hands of its business leaders and reducing head count at its corporate office in a bid to boost its profit margin and cut $500 million a year in costs, the Wall Street Journal reported.
Andrea Orcel, the former head of UBS’ investment banking business, will have to wait until April to take on his new role as chief executive officer at Banco Santander, Bloomberg reported.
U.S. food company Mondelez is suing its insurance company Zurich for refusing to pay out on a $100 million claim for damage caused by a cyber attack.
* Ascom Holding AG: preliminary fiscal year 2018 net revenue growth of close to 3 percent; expects for fiscal year 2018 a decreased EBITDA margin of about 12 percent . Shares indicated down 6.2 percent.
* Swissquote Group Holding SA: FY total earnings at CHF 214 million; fy pre-tax profit at CHF 53.5 million, up 16 percent versus year ago
* Bossard Holding AG: FY group sales at CHF 871.1 mln, up 10.8 pct vs year ago
* MCH Group AG: sold subsidiary Winkler Livecom to management of technical live communication service provider and private investor
* Family-controlled private banks GS Banque and Banca Arner will merge into a single entity with offices in Geneva and Lugano and around 2 billion Swiss francs in assets under management, they said.
COMPAGNIE FINANCIERE RICHEMONT SA: BERENBERG CUTS TARGET PRICE TO SFR 69 FROM SFR 75
THE SWATCH GROUP AG: BERENBERG CUTS TARGET PRICE TO SFR 300 FROM SFR 478
No major economic data due (Reporting by Zurich newsroom and Berlin Speed Desk)