Swiss stocks - Factors to watch on Sept. 26
ZURICH, Sept 26 |
ZURICH, Sept 26 (Reuters) - Swiss shares are set to open lower on Monday, in line with European markets which are seen declining on growing doubts that policymakers would be able to resolve the euro zone debt crisis anytime soon. The Swiss blue-chip SMI is seen falling 44 points to 5,255 points, pre-market data provided by bank Clariden Leu showed .
The following are some of the main factors expected to affect Swiss stocks on Monday:
UBS
* Oswald Gruebel resigned on Saturday as chief executive of UBS, saying he took the blame for the $2.3 billion loss run up in alleged rogue trading in its investment banking division.
* Oswald Grübel's resignation came after the bank's board refused to support his plan to overhaul the bank's strategy and corporate governance, The Financial Times reported.
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NOVARTIS
* Combining two drugs from Novartis and Pfizer to treat post-menopausal women with a certain type of advanced breast cancer more than doubled the time they lived without their disease getting worse, study data showed on Monday.
* Novartis's bone drug Zometa extended survival in older breast cancer patients but failed to improve disease-free survival among younger women patients in a large-scale clinical trial, researchers said on Sunday.
* An investigational therapy has significantly helped people suffering from pulmonary arterial hypertension (PAH) to exercise, the Swiss drugmaker Novartis said on Sunday based on the results of a late-stage clinical trial.
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ROCHE
* Roche's bone strengthening drug Boniva is as good for pain relief as single dose radiotherapy in patients whose prostate cancer has spread to their bones, according to data from a late-stage trial released on Sunday.
* Women with an aggressive type of advanced breast cancer can live significantly longer without their disease getting worse if they are treated with an experimental "armed antibody" drug from Roche, researchers said on Sunday.
* A new skin cancer drug from Roche had "remarkable" results in a mid-stage trial, substantially shrinking tumours and lesions in patients with a potentially fatal type of skin cancer, the Swiss drugmaker said on Saturday.
* Roche's anti-cancer agent, avastin obtained approval from the Japanese Ministy of Health, labour and Welfare for the additional indication of inoperable or recurrent breast cancer.
* Roche the Japanese ministry also apporved its peginterferon alfa-2a "pegasys" for the additional indication of chronic active hepatitis b.
COMPANY STATEMENTS
* Aryzta said group EBITA increased by 44.1 percent to 393.3 million euros for the financial year ended 31 July 2011.
ECONOMY
* Swiss National Bank Chairman Philipp Hildebrand said on Saturday he would do all that is necessary to maintain a ceiling on the Swiss franc, but declined to provide further details.
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