Swiss stocks - Factors to watch on July 29
ZURICH, July 29 |
ZURICH, July 29 (Reuters) - Swiss stocks were set to open lower on Friday, in line with other markets in Europe, on growing concerns that a stalemate in the United States on a debt plan might push the world's biggest economy closer to a default.
The blue-chip SMI was seen opening down 78 points at 5,792, pre-market data provided by bank Clariden Leu CLPRE showed.
The following are some of the main factors expected to affect Swiss stocks on Friday:
TELECOMS
France Telecom (FTE.PA) is putting its Swiss, Austrian and Portuguese units up for sale. Its Orange unit in Switzerland competes with the mobile offering of Swisscom (SCMN.VX).
ECONOMY [M-CH]
* The Swiss National Bank reported a consolidated loss of 10.8 billion Swiss francs in the first half of 2011, largely due to a 9.9 billion franc loss on its foreign exchange holdings.
COMPANY STATEMENTS [CPR-CH]
* ABB (ABBN.VX) announced that it has completed its acquisition of Mincom, the privately owned software company specializing in solutions for mining and other asset-intensive industries.
* Autoneum (AUTON.S) increases sales in local currencies by more than 15 percent and achieves positive net result.
* Private Equity Holding (PEHN.S) AG said comprehensive income for the first three months of the financial year 2011/2012 amounts to 1.9 million euros.
* Cosmo Pharmaceuticals (COPN.S) announced today its half-year results for the period ended 30 June 2011 and said total revenues grew by 14 percent to 16.3 million euros.
* Newron (NWRN.S) announced completion of patient enrollment in SETTLE, a Phase III Pivotal Clinical Trial of Safinamide in Advanced Parkinson's Disease.
* The CALIDA (CALN.S) Group said first-half net profit grew by 85.1 percent to 8.7 million francs.
* Swissquote (SQN.S) said H1 net profit rose 29.9 percent to 17.8 million francs.
* SGS (SGSN.VX) buys the laboratory arm of Simmonds & Bristow, which employs 20 people.
EQUITIES RESEARCH
* S&P EQUITY RESEARCH CUTS CREDIT SUISSE GROUP AG (CS.N) TO HOLD FROM BUY; CUTS PRICE TARGET TO $42 FROM $56
FOR COMPANIES TRADING EX-DIVIDEND, PLEASE CLICK ON:
.EX.S for all Swiss stocks
.EXSMI.S for blue chips
.EXNSMI.S for other stocks
- Tweet this
- Link this
- Share this
- Digg this
- Reprints


Follow Reuters