Swiss stocks - Factors to watch on Nov 9

Fri Nov 9, 2012 2:28am EST

ZURICH, Nov 9 - Swiss stocks were expected to edge slightly lower on Friday amid jitters of a looming U.S. fiscal crisis, though better-than-expected macro data from China may underpin investor sentiment.

The Swiss blue-chip SMI was seen down 0.2 percent, according to premarket indications from bank Julius Baer .

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

RICHEMONT

Richemont on Friday named Cartier chief Bernard Fornas and deputy chief executive Richard Lepeu as joint CEOs to navigate the luxury goods group through a period of slowing sales growth in its important Asian markets.

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COMPANY STATEMENTS

* Novartis <NOVN.VX. said board member Marjorie Yang won't seek re-election when her current term ends in 2013.

* Partners Group said an accelerated book-building of the asset manager's shares was priced at 183 Swiss francs ($190) per share, allowing Partners Group founders to invest a minimum of 300 million francs alongside clients and to materially increase the free float.

* Galenica said Karin Priarollo has resigned with immediate effect from her role as Head of Human Resources and is leaving the firm by mutual agreement. Joerg Kneubühler, Chief Financial Officer and member of the Corporate Executive Committee, will be new Head of Human Resources.

* Dufry recently inaugurated 2300 square meters of fashion and beauty outlets in Terminal 2 at Chengdu Shuangliu International Airport.

* Schaffner said it is appointing Chief Executive Alexander Hagemann as interim head of its automotive division with immediate effect. Jean-Michel Calleri, who had previously headed the division, is stepping down from Schaffner's management.

ECONOMY

* The Swiss National Bank will defend its cap on the franc with the utmost determination and tries to invest its foreign exchange reserves in ways that do not disrupt the market, SNB Board Member Fritz Zurbruegg said on Thursday.

($1 = 0.7857 euros) ($1 = 0.9477 Swiss francs)

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