November 7, 2019 / 5:26 AM / 7 days ago

Swiss stocks - Factors to watch on November 7

ZURICH/BERLIN, Nov 7 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1% higher at 10,327 points on Thursday, according to premarket indications by bank Julius Baer .

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

UBS

The bank and Brazilian state-controlled lender Banco do Brasil are set to launch an investment bank in South America, UBS said.

SWISS RE

Swiss Re is looking at buying a stake in China Pacific Insurance Co. (CPIC) via a primary offering of the Chinese company’s securities, the Swiss re-insurer said.

NOVARTIS

The acquisition of Sandoz dermatology and generics assets by Aurobindo Pharma is delayed further as the U.S. Federal Trade Commission has asked for more information on a lawsuit the Indian company is facing, the Economic Times reported.

BKW

The Bern utility complained a Swiss amendment to rules governing money for decommissioning nuclear plants could increase payments for shuttering the Muehleberg station by 100 million Swiss francs, and said it was considering a judicial response.

ZURICH INSURANCE

The Swiss-based insurer posted a 2% rise in nine-month property and casualty gross written premiums on Thursday, adding the development is expected to have a positive effect on net earned premiums in the coming year.

SGS

The Swiss inspections group aims to keep its dividend at least steady next year, the Geneva-based company said on Thursday as it focuses on cost savings to defend margins.

STOCK EXCHANGES

Banks and fund managers want the European stock trading day shortened by 90 minutes in a radical move they say would improve market efficiency and staff wellbeing - but exchanges are split.

COMPANY STATEMENTS

* Roche said a presentation at the American Society of Hematology 2019 Annual Meeting includes new data for CD20-CD3 bispecific cancer immunotherapies, confirming their potential in difficult-to-treat lymphomas.

* ObsEva said it was discontinuing current development of nolasiban for invitro fertilisation after it failed a study. The company’s net loss in the third quarter was $27.6 million.

* Lastminute said nine-month net earnings rose to 20.6 million euros, from 6.5 million euros in the year-earlier period.

* Valiant Holding said nine-month net profit rose to 86.5 million francs

* Varia US Properties said third-quarter rental income rose to $22.6 million

ECONOMY

* Swiss October forex reserves data due at 0800 GMT

Reporting by Zurich newsroom and Berlin Speed Desk

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