May 16, 2018 / 4:37 AM / in 3 months

Swiss stocks - Factors to watch on May 16

ZURICH, May 16 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent higher at 9,016 points on Wednesday, according to premarket indications by bank Julius Baer.

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

NOVARTIS

General Counsel Felix Ehrat will leave the company over his role in a $1.2 million contract the Swiss drugmaker struck with the lawyer for U.S. President Donald Trump, saying on Wednesday that it was legal but still an error.

Novartis says in investor day presentation set to deliver sales growth, margin expansion through 2022

Novartis successfully completes acquisition of Avexis Inc.

ROCHE

Roche unit Chugai Pharmaceutical Co Ltd obtained approval from the Taiwan Food and Drug Administration for “Alecensa,” anaplastic lymphoma kinase (ALK) inhibitor, for the treatment of patients with ALK-positive, advanced non-small cell lung cancer (NSCLC).

NESTLE

Starbucks Corp is looking to more than triple its revenue and almost double its store count in China over the next five years, doubling down on the market as traffic growth comes under pressure in the United States. The U.S. coffee chain, which recently raised $7.15 billion in a deal with Nestle, aims to have 6,000 stores in the country by the end of 2022, it said in a statement. It has around 3,300 stores in 141 cities in China now.

CREDIT SUISSE

Israel-based healthcare fund aMoon II has secured a $250 million investment commitment from Credit Suisse, the fund’s managing partner said

ALPIQ

Chairman Jens Alder tells Finanz und Wirtschaft paper the Swiss utility does not intend to distribute to shareholders proceeds from the nearly $900 million sale of its engineering services business to Bouygues

UBS

Appaloosa LP takes share stake of 7.0 million shares in UBS Group AG

LAFARGEHOLCIM

Major shareholder Thomas Schmidheiny tells Finanz und Wirtschaft paper he is not happy with the results of the merger between Holcim and Lafarge.

“I am not satisfied because the fruits of the merger are not yet on the table,” he is quoted as saying.

COMPANY STATEMENTS

* Idorsia Ltd: initiates Modify, a phase 3 registration study to assess lucerastat as a potential new treatment option for patients with Fabry disease

Reporting by Zurich newsroom

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