Swiss stocks - Factors to watch on Aug 29

ZURICH | Mon Aug 29, 2011 2:36am EDT

ZURICH Aug 29 (Reuters) - Swiss stocks are poised to open firmer on Monday, mirroring gains in other European markets, after U.S. stocks rallied on Friday.

The Swiss blue-chip SMI was expected to open 58 points higher at 5,380 points, pre-market data provided by Clariden Leu showed.

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

ROCHE

* An experimental drug from Roche raised "good" HDL cholesterol substantially without increasing blood pressure, the problem that sank a rival treatment from Pfizer , researchers said on Sunday.

* Roche's diagnostics unit, a key part of the drugmaker's drive into personalised healthcare, is not yet fully appreciated by the financial community, the division's head told journalists at a round-table event in Zurich on Friday.

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ACTELION

Actelion Ltd's key experimental drug macitentan failed to reach its goal in a mid-stage trial in a potentially deadly lung disease, dealing another blow to the Swiss biotech group's already battered pipeline.

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NOVARTIS

Novartis AG has been asked to give U.S. authorities more clinical data on its prospective gouty arthritis treatment and potential blockbuster, ACZ885, so that they can evaluate the benefit risk profile in a subset of patients.

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BANKS

Switzerland's banking industry may have to slash 10,000 jobs by the end of next year, particularly at Swiss subsidiaries of big foreign banks, Swiss newspaper SonntagsZeitung reported.

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CREDIT SUISSE

* The Swiss government may be paving the way for a large-scale transfer of Credit Suisse client data to the United States in order to save the bank serious legal troubles that might endanger its future, a Swiss newspaper reported.

* Credit Suisse said on Monday it had completed the first ever coking coal swap transaction via a new over the counter contract cleared by the CME Group .

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ORASCOM DEVELOPMENT

An Egyptian court sentenced the executive chairman of real estate and hotels firm Orascom Development to two years in jail for manipulating the firm's stock price and providing incorrect data on its finances, a judicial source said.

Orascom said on Monday it would appeal this decision and it had entered settlement talks.

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COMPANY STATEMENTS

* Oridion reports 24 percent growth in first half of 2011.

* Myriad has reached settlement of a legal case with Openwave Systems Inc. , Redwood City/CA, and will receive a cash payment of USD 12 million in September 2011.

* Cytos Biotechnology Ltd confirms strategic and organisational changes with the aim of preserving value around its lead product and to address the up-coming maturity of the Convertible Bond.

* PubliGroupe shows net profit for the first half of 2011 of CHF 14.9 million.

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