Swiss stocks - Factors to watch on Feb 9
ZURICH |
ZURICH Feb 9 (Reuters) - Swiss shares were expected to open lower on Tuesday, tracking losses on Wall Street, which was hit by lingering concerns over debt problems in the euro zone.
Investors' main focus will be on bank UBS, seen opening lower after reporting a return to profit but hit by accelerating withdrawals in the fourth quarter.
The blue chip SMI index .SSMI was seen opening 39 points lower at 6,308 points, according to pre-market data from bank Clariden Leu CLPRE.
The following are some of the main factors expected to affect Swiss stocks on Tuesday:
UBS (UBSN.VX) (UBS.N)
Swiss bank UBS posted its first quarterly net profit since Oswald Gruebel took the helm a year ago, but client withdrawals rose well above forecasts, signalling he may need more time to steady the ship.
For related news, click on [UBSN.VX]
SWATCH GROUP (UHR.VX)
Watchmaker Swatch Group reported full-year profit ahead of the average forecast in a Reuters poll and said it had a good start so far in 2010.
For related news, click on [UHR.VX]
CREDIT SUISSE (CSGN.VX)
Credit Suisse, mostly unscathed as losses and turmoil have slammed rivals, is expanding its U.S. wealth management business as it steers clear of building a big, soup-to-nuts brokerage.
For related news, click on [CSGN.VX]
NOVARTIS (NOVN.VX)
* Britain's cost-effectiveness watchdog recommended against an expensive cancer drug, Afinitor, from Novartis being used within the state-run health service.
* Novartis bought exclusive rights to develop and market a drug, currently in mid-stage trials, for the treatment of hepatitis C, the group said on Tuesday.
For related news, click on [NOVN.VX]
COMPANY STATEMENTS [CNR-CH]
* Baloise (BALN.VX) - Deutscher Ring companies: BaFin issues administrative acts [BALN.VX]
* Cosmo (COPN.S) announces preliminary interim result of its tender offer for BioXell [COPN.S]
* Gurit(GUR.S) says BlackRock Inc. as a group holds 3.27 percent of Gurit [GUR.S]
* Vontobel(VONN.S): Marco Bacchetta to be new Head of Sales at Vontobel [VONN.S]
* Schindler(SCHN.S) to supply key transport axis in Istanbul [SCHN.S]
* Myriad(MYRN.S) brings 3x faster applications, richer game graphics and better battery life to Android [MYRN.S]
ECONOMY [M-CH]
The Swiss Treasury reopened a 3.25 pct bond maturing 2027 SWIW
EQUITY RESEARCH [CH-RCH]
FOR COMPANIES TRADING EX-DIVIDEND, PLEASE CLICK ON:
.EX.S for all Swiss stocks
.EXSMI.S for blue chips
.EXNSMI.S for other stocks
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