Swiss stocks - Factors to watch on Aug 26

ZURICH Aug 26 (Reuters) - Swiss shares were set to open higher on Thursday as stock markets across Europe were indicated to bounce back after hitting a five-week closing low in the previous session.

The Swiss blue-chip index SMI.SSMI was indicated to open 48 points higher at 6,146 points, premarket data provided by bank Clariden Leu showed.CLPRE

The following are some of the main factors expected to affect Swiss stocks on Thursday:

NESTLE (NESN.VX)

* Nestle said it will substantially reduce its net debt position, which stood at 29.6 billion francs at the end of June 2010, as an immediate result of the completed sale of its Alcon stake to Novartis.

* French cosmetics maker L'Oreal, in which the Swiss food group owns a 30 percent stake, posted operating profits of 1.67 billion euros ($2.1 billion) for H1, well ahead of estimates.

For related articles, click on [NESN.VX]

NOVARTIS (NOVN.VX)

* Novartis said it completed the 77 percent majority ownership of Alcon, which will show for the same period low single digit and high single digit accretion to core earnings per share for 2010 and 2011 respectively.

* A U.S. judge on Wednesday refused to block sales of a generic version of Sanofi-Aventis SA's (SASY.PA) blood thinner marketed by Novartis AG's (NOVN.VX) Sandoz unit and Momenta Inc (MNTA.O)

For related news, click on [NOVN.VX]

BALOISE (BALN.VX)

Baloise first-half net profit beat forecast on strong investment income growth and a steep rise in business volumes, Switzerland's fifth-biggest insurer said on Thursday.

For related news, click on [BALN.VX]

GLENCORE[GLEN.UL]

Switzerland's Glencore International, the mining and commodities trading giant, said on Thursday first half net income jumped 42 percent, spurred by a sharp rise in metal prices.

For related news, click on [

CREDIT SUISSE (CSGN.VX)

Credit Suisse has appointed Sanjeev Bajaj as managing director and head of fixed-income in India, according to an internal memorandum seen by Reuters.

For related news, click on [CSGN.VX]

ECONOMY [M-CH]

* The Swiss National Bank would react should deflation risks resurface as the global economic crisis was not over yet, SNB chairman Philipp Hildebrand said in a magazine interview due to be published on Thursday.[ID:nLDE67O1RL]

* Swiss employment data for the second quarter is due at 0715 GMT.ECONCH

COMPANY STATEMENTS [CNR-CH]

* LLB (LLB.S) reports strong net new money inflows of 1.5 billion francs and attains a 2010 interim business result of 60.5 million francs [LLB.S]

* Valora (VALN.S) reports improved profitability [VALN.S]

* Schindler SCHP.S is to supply 353 escalators for a railway expansion project across much of China [SCHP.S]

* LEM Holding (LEHN.S) launches share buyback program with a volume of up to 15 million francs through a second trading line.[LEHN.S]

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

($1=.7901 Euro)