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Swiss stocks - Factors to watch on Sept 22
September 22, 2017 / 4:37 AM / 3 months ago

Swiss stocks - Factors to watch on Sept 22

ZURICH, Sept 22 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 9,141 points on on Friday, according to premarket indications by bank Julius Baer .

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

ADECCO

The world’s biggest staffing group said organic revenues increased by 6 percent in July and August, with September continuing at the same pace.

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ROCHE

The Swiss drugmaker said it has received European approval for its Actemra medication in giant cell arteritis (GCA).

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NESTLE

French businesswoman and heiress of cosmetics giant L‘Oreal Liliane Bettencourt, 94, has died, her daughter said on Thursday. The Bettencourt family, which founded L‘Oreal, has a 33 percent stake in the company.

Nestle and the Bettencourt family had agreed that neither would increase its stake in L‘Oreal during Bettencourt’s lifetime and for six months after that. Nestle has a stake of just over 23 percent.

There has been speculation about Nestle’s intentions regarding the stake since activist hedge fund Third Point publicly urged Nestle to sell it down.

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JULIUS BAER

The Swiss private bank said it has appointed Oliver Bartholet as chief risk officer, replacing Bernhard Hodler who will serve as deputy to Chief Executive Boris Collardi.

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COMPANY STATEMENTS

* Relief Therapeutics Holding AG posted a first-half ‍loss of approx 1.1 million Swiss francs, EBITDA of -1.0 million francs versus a loss of 0.3 million francs, EBITDA of -0.3 million francs a year ago.

* lastminute.com said EGM its voted in favor of proposed items​.

* VP Bank said Felix Brill will joins the bank’s executive management as head of investment solutions.​

ECONOMY

Reporting by Zurich newsroom

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