January 17, 2018 / 5:37 AM / a year ago

Swiss stocks - Factors to watch on Jan 17

ZURICH, Jan 17 (Reuters) - The Swiss blue-chip SMI was seen opening 0.14 percent higher at 9,477 points on Wednesday, according to premarket indications by bank Julius Baer.

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


The Swiss food group agreed to sell its U.S. confectionery business to Italy’s Ferrero for $2.8 billion, it said on Tuesday, the first major sale from CEO Mark Schneider and a small step on its path towards healthier products.

Nestle shares were seen rising, according to premarket indicators.

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The state-owned telephone company continues to struggle with problems with business customers across Switzerland in which office phones do not work or function only sporadically, interrupting business. The company told Swiss state media SRG it plans to work with customers who have suffered financial consequences due to the problems.

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The Swiss drugmaker has won speedy reviews for its cell therapy Kymriah for blood cancers in the U.S. and Europe, the it said on Wednesday, as it seeks to expand the pool of patients eligible for the expensive treatment.

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Credit Suisse (Schweiz) head Thomas Gottstein told newspaper Finance und Wirtschaft his bank is “well on its way” to its goal of adjusted pretax income of 2.3 billion Swiss francs ($2.40 billion) this year.

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* Orascom said it increased real estate net sales last year to 125.4 million Swiss francs versus 115.2 million francs in 2016.

* Implenia said it won a pair of new construction contracts in Germany with the order volume in the high double-digit million francs.


Swiss National Bank Chairman Thomas Jordan said negative interest rates were still needed to tame the Swiss franc, which he said remained “highly valued.”

Jordan also said a sovereign money initiative would plunge the Swiss economy into uncertainty. ($1 = 0.9624 Swiss francs) (Reporting by Zurich newsroom)

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