Swiss stocks - Factors to watch on Sept 2
ZURICH, Sept 2
ZURICH, Sept 2 (Reuters) - Swiss stocks were set to open higher on Monday, in line with other European markets, buoyed by data which showed China's manufacturing sector expanded in August at the fastest pace in more than a year.
The Swiss blue-chip SMI was seen rising 0.4 percent to 7,773 points, according to premarket indications from bank Julius Baer.
The following are some of the main factors expected to affect Swiss stocks on Monday.
ZURICH INSURANCE GROUP
Josef Ackermann resigned because he saw the suicide of Zurich Insurance Group's finance chief curbing his ability to drive through change to revive profits, a source close to the former chairman said on Sunday.
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* Roche said the European Commission had approved a new formulation of its breast cancer drug Herceptin which allows the medicine to be administered more quickly.
* SGS said it had acquired MIS Environmental Ltd. and MIS Testing Ltd., both based in the UK.
* Nestle said its Purina PetCare Company is voluntarily recalling a limited number of bags of two brands of dog and cat food sold in the United States after salmonella was detected in one of them.
* Oerlikon Balzers, a unit of Oerlikon announced the worldwide rollout of reconditioning services.
* Adval Tech Group said it had completed the sale of its business in Mexico and its medical technology activities in China to the American company Phillips-Medisize.
* Zug Estates Group said first-half net income rose to 25.2 million Swiss francs.
* Helvetia reported net income after tax of 179.4 million Swiss francs in the first half.
* SNB Vice Chairman Jean-Pierre Danthine due to give a speech in Lausanne at 1630 GMT
* Swiss PMI due to be released at 0730 GMT