Swiss stocks - Factors to watch on Oct 30

ZURICH Tue Oct 30, 2012 3:10am EDT

ZURICH Oct 30 (Reuters) - Swiss stocks were set to open slightly lower on Tuesday as Asian and European market hovered while a powerful storm kept U.S. markets shut.

The Swiss blue-chip index SMI was indicated down 0.1 percent at 6,595 points, pre-market data provided by bank Julius Baer showed. The following are some of the main factors expected to affect Swiss stocks on Tuesday:

UBS

UBS revealed plans on Tuesday to wind down its fixed income business and fire 10,000 bankers, in one of the biggest bonfires of finance jobs since the implosion of Lehman Brothers in 2008.

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NESTLE

NestLe says Kurt Schmidt is stepping down as head of its nutrition business and will be replaced by Luis Cantarell, who will take the role in addition to his current job as head of Nestle Health Science.

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STRAUMANN

Swiss dental implant maker Straumann said it would cut roughly 150 jobs to improver margins as it grapples with sluggish demand in Europe. Straumann posted a 4 percent rise in third-quarter sales to 156.8 million Swiss francs ($167.41 million), compared to an average estimate in a Reuters poll of 158 million.

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COMPANY STATEMENTS

* U-blox -Acquisition of Fastrax expands u-blox' positioning market footprint

*Daetwyler Holding said it will combine its sealing technologies and pharmaceutical packaging units and sell its cabling solutions unit to Pema Holding AG for an undisclosed price, part of a bid to focus on high-growth, high-margin businesses.

* Adecco said Och-Ziff Capital Management holds purchase positions equivalent to 5.32 percent of its share capital, and sale positions equivalent to 3.10 percent.

* Oerlikon said sales rose 2 percent in the third quarter to 957 million francs and confirmed its outlook for the full year.

ECONOMY

* The UBS Swiss consumption indicator rose to 1.07 points in September from a revised 1.02 points in August.

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