Swiss stocks - Factors to watch on Jan 29

ZURICH Wed Jan 29, 2014 2:28am EST

ZURICH Jan 29 (Reuters) - Swiss stocks were expected to rise on Wednesday, with traders saying a move overnight by Turkey to hike all of its key interest rates to defend the country's crumbling lira currency was helping to buoy equity markets.

The Swiss blue-chip SMI was seen opening 0.7 percent higher at 8,247 according premarket indications from bank Julius Baer

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

NOVARTIS

Novartis is exploring all options for its subscale divisions, including "unique structures", its Chief Executive said on Wednesday, as the Swiss drugmaker reported fourth-quarter profit that missed expectations.

For more, click on

UBS

A former UBS AG employee must arbitrate a claim that he was terminated for disclosing to superiors that he was pressured to publish misleading research reports.

For more, click on

SWISS TAX

The Swiss government said its top tax diplomat met with Greece's deputy finance minister in Bern to negotiate over the assets wealthy Greeks have stashed in secret Swiss bank accounts, ahead of a February meeting at finance minister level.

COMPANY STATEMENTS

* Meyer Burger said board member Dietmar Roth will not stand for re-election at the company's April 29 shareholder meeting.

* Cytos and Singapore's Agency for Science, Technology and Research announced that their influenza met its primary end point for immunogenicity in the Phase 1 clinical trial in healthy Asian volunteers.

* Lifewatch said it rejects a recent Schaffhausen court ruling that its board must accept three persons at ashareholder meeting of Jan. 30, and regards the decision as a severe violation of corporate and procedural rules.

* Huegli said full-year sales rose more than 13 percent to 367.3 million Swiss francs ($408.70 million), and that it expects moderate organic sales growth and over-proportional EBIT growth this year.

ECONOMY

The UBS Swiss consumption indicator surged to 1.81 in December from 1.40 in November, the Swiss bank's economists said.

($1 = 0.8987 Swiss francs)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.