Swiss stocks - Factors to watch on Feb 10

ZURICH Mon Feb 10, 2014 2:24am EST

ZURICH Feb 10 (Reuters) - Swiss stocks were expected to open slightly higher on Monday, taking their cue from strong gains in the United States and Japan as investors continued to bet on a sustained recovery in developed economies.

The Swiss blue-chip SMI was seen rising 0.5 percent to 8,357 points, according to premarket indications by bank Julius Baer.

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

IMMIGRATION

Swiss voters on Sunday narrowly backed proposals to reintroduce immigration quotas with the European Union, a result that calls into question bilateral accords with the EU and could irk multinational companies.

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ROCHE

The Swiss pharmaceutical group said it secured an injunction from an Indian court banning generic drug makers Biocon and Mylan from comparing their copycat versions of Roche's Herceptin breast cancer treatment to the original.

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UBS

Swiss bank UBS AG approached U.S. authorities in September with information relating to an industry-wide probe into alleged rigging of currency markets, in the hope of gaining antitrust immunity if charged with wrongdoing, sources familiar with the matter told Reuters.

A Florida judge has agreed to an eight-month delay in the trial of Raoul Weil, a former high-ranking UBS banker charged with tax fraud by U.S. authorities.

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SYNGENTA

Syngenta AG, the world's largest crop chemicals company, has commitments to sell its entire supply of a genetically modified corn variety that is not approved by China, U.S. Agriculture Secretary Tom Vilsack said on Friday.

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COMPANY STATEMENTS

* Roche said it plans to alter the ratio of its ADR from four currently per one underlying non-voting equity security, to eight to one in the future. The first day of trading with the new ADR ratio, which will have no impact on the number of securities outstanding of the Roche voting share or the Roche non-voting equity security, will be February 27.

* EFG named Urs Beck to be responsible for Swiss equities and to manage a dedicated Swiss equity fund to complement the bank's New Capital UCITS IV fund range, as part of its on-going development of Swiss investment strategies.

* Evolva said it signed a collaboration agreement with L'Oreal through 2016 for the co-development of novel biosynthetic production routes for the cosmetics industry. The cosmetics maker will pay Evolva research fees during the project period, and the company is also eligible to receive milestone payments based on achieving research objectives.

* Addex said data from a phase 2a study in patients with major depressive disorder showed that its ADX71149 was well-tolerated overall and treatment emergent adverse events reported were similar to those seen in previous clinical studies.

ECONOMY

* The Swiss unemployment rate was steady at a non-seasonally adjusted 3.5 percent in January from the previous month, the State Secretariat for Economic Affairs said on Monday

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