ZURICH/BERLIN, Oct 7 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2% higher at 9,845 points on on Monday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
Sunrise shareholder Axxion has spoken out against the Swiss telecommunication company’s 2.8 billion Swiss franc ($2.81 billion) equity issue to acquire cable operator UPC, reiterating its demand for Chairman Peter Kurer and board member Jesper Ovesen to step down. The deal would destroy capital value at Sunrise, Axxion said.
If Sunrise’s planned takeover of cable operator UPC falls through, writedowns will make the costs substantially higher for the firm than the $50 million penalty it will need to pay UPC owner Liberty Global, its Chief Financial Officer Andre Krause separately told Finanz und Wirtschaft in an article published on Friday.
The Swiss drugmaker said its STRONG study of the $2.1 million gene therapy Zolgensma in patients between 2 and 5 showed those treated with a single spinal infusion had significantly improved scores on a test of their motor function at a median 9.3 month follow-up.
U.S.-based Conatus Pharma and Novartis mutually agreed to terminate a collaboration agreement begun in late 2016, a filing by the U.S. securities regulator showed, as the Swiss drugmaker closes a chapter on efforts to expand into drugs for fatty liver disease.
Austria’s AMS failed in its 4.5 billion euro ($4.9 billion) takeover attempt of Osram but said it would still explore strategic options to pursue an acquisition of the German lighting group.
* APTG AG said thee Cantonal Court of Zug had extended definitive composition moratorium until Feb. 14, adding that it had confirmed Daniel Hunkeler, Baur Huerlimann as definitive administrator.
* Implenia said its board was examining a proposal for an extraordinary general assembly in which activist shaeholder Verainson seeks to separate its development business and replace some members of the board. “Implenia is surprised by the shareholder group’s aggressive approach, but remains open to constructive dialogue,” it said.
* Santhera Pharmaceuticals said it had presented data showing continued muscle function and improved tolerability of the synthetic steroid vamorolone compared to corticosteroids in the treatment of Duchenne muscular dystrophy.
* Aryzta announced the proposed the addition of Alejandro Legarda Zaragueta to the frozen baked products maker’s board.
ABB: HSBC cut its target price to 22 francs, from 25 francs
No major economic data scheduled. ($1 = 0.9958 Swiss francs) (Reporting by Zurich newsroom and Berlin Speed Desk)