ZURICH, Nov 9 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 9,258 points on Thursday, according to premarket indications by bank Julius Baer .
The following are some of the main factors expected to affect Swiss stocks:
The insurer posted a 1 percent rise in adjusted nine-month property and casualty premiums and said it expects insurance prices to rise after hurricanes and earthquakes likely made the third quarter the industry’s costliest.
A 13.3 billion Swiss franc withdrawal in the third quarter at Credit Suisse’s domestic business came from the pension fund for Swiss railway operator SBB, newspaper Handelszeitung reported, citing comments by Markus Huebscher, the fund’s managing director. The fund deposited the funds at JP Morgan, Handelzeitung said.
UBS named Joe Reece, Javier Oficialdegui and David Chin to manage its corporate-client services business in the Americas, Europe and Asia, respectively, The Wall Street Journal reported, citing an internal memo.
* Bobst Group SA said it is expecting for 2017 a 4-6 percent sales increase compared to the 1.447 billion Swiss francs achieved in 2016, and an operating result (EBIT) margin close to the minimum mid- to long-term target of 8 percent of sales, compared to 7.2 percent in 2016. The net result will increase as well from CHF 84.3 million achieved in 2016, but will grow less than the operating result (EBIT), the company said.
* Ypsomed said net profit for the first six months of the business year 2017/18 amounted to 23.4 million (previous year 22.4 million francs) and that it expects a growth in turnover of approximately 18 percent versus the presently forecast 15 percent and increases the forecast to an operating result of around 60 million francs for the business year 2017/18.
* Schmolz + Bickenbach said sales volume rose 3.6 percent to 405 kilotons in Q3 2017 from 391 kilotons in Q3 2016 and confirmed its outlook for full-year 2017.
* Sunrise Communications said Q3 net income rose year on year to 442 million francs, driven by the tower disposal’s gain and reiterated its 2017 full-year guidance.
* Zueblin Immobilien Holding posted net comprehensive income of 5.5 million francs for the first six months of the 2017/18 financial year.
* LEM Holding first-half net profit was up 19.7 percent at 26.5 million francs.
* Bank Cler said Peter Alois Schnellmann has been appointed its new head of sales.
* Evolva announces the successful completion of the 86 million Swiss franc rights offering and private placement.
* Datacolor AG will propose Jvo Grundler be elected as a new member of the board of directors at its ordinary general meeting on Dec. 7. Peter Beglinger decided not to stand for re-election to the board of directors.
* The Swiss unadjusted unemployment rate came in at 3.0 percent in October, unchanged from the previous month, the State Secretariat for Economic Affairs said on Thursday.
Reporting by Zurich newsroom