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Swiss stocks - Factors to watch on Sept 28
September 28, 2017 / 5:47 AM / 3 months ago

Swiss stocks - Factors to watch on Sept 28

ZURICH, Sept 28 (Reuters) - The following are some of the main factors expected to affect Swiss stocks on Thursday:

ABB

ABB will not wait “multiple years” to return capital to investors and this could involve relaunching a share buyback that was put on hold after the Swiss group bought a unit from General Electric, the CEO said on Wednesday.

UBS

The world’s largest wealth manager, is convinced its new online private bank needs to get bigger. Now it needs to work out how.

A former senior precious metals trader at UBS Group AG has been indicted on a criminal conspiracy charge over his alleged role in rigging prices by placing “spoof” trades.

NOVARTIS

Novartis’s research head expects an alliance with a University of California chemistry lab to produce drug candidates within three years as the Swiss company accelerates its hunt for new medicines. [nNASO0001C

COMPANY STATEMENTS

* Aryzta AG said that Chairman Gary McGann and CEO Kevin Toland acquired 4,000 and 3,642 ordinary shares of Aryzta AG respectively following the announcement of full-year 2017 results.

* Panalpina is acquiring Interfresh Airfreight Handling, a Dutch handling agent specialized in perishables, as well its affiliates Fresh Cargo Connection and Dutch Cargo Connection, without disclosing the financial terms of the deal.

* VAT Group said Partners Group sold 3 million of its VAT shares, or roughly 10 percent of total share capital, to Rudolf Maag. Partners Group will hold a remaining 13.07 percent of VAT’s share post-sale.

* Roche’s Ocrevus was approved in Switzerland for primary progressive and relapsing forms of multiple sclerosis.

* SHL Telemedicine swung back to profitability in the first six months of 2017, earning net income of $2 million versus a loss of $3.8 million during H1 2016.

* LumX Group’s loss widened to $4.1 million in the first half of 2017, versus $3.5 million in the prior-year period.

* Dufry said it won a contract for a downtown travel retail operation in Kuala Lumpur.

* Basilea has agreed a license with Shenzhen China Resources Gosun Pharmaceutical Co for Basilea’s Zevtera in China, Hong Kong and Macao. The Swiss group will receive an execution payment of 3 million francs and is eligible to receive up to approximately 145 million francs additional payments.​

ECONOMY

Reporting by Zurich newsroom

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