Swiss stocks - Factors to watch on March 3

ZURICH, March 3 Mon Mar 3, 2014 2:25am EST

ZURICH, March 3 (Reuters) - Swiss stocks were expected to open lower on Monday, as investors fret over growing tensions in Ukraine.

The Swiss blue-chip SMI was seen 0.6 percent lower at 8,425 points, according to premarket indications from bank Julius Baer.

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

ROCHE

Roche said a committee recommended it halt studies of development drug onartuzumab in lung cancer, a blow for the potential big seller because the treatment options for lung cancers are limited.

For more, click on

IMMIGRATION

Switzerland's economy minister wants to save bilateral agreements with the European Union, at risk after Switzerland voted to curb immigration from the bloc three weeks ago, he told a Swiss newspaper on Sunday.

For more, click on

NOVARTIS

Swiss pharma group Novartis will work more closely with rival Roche but rules out a merger, its chairman said in a newspaper interview on Sunday.

For more click on

JULIUS BAER

Julius Baer paid Chief Executive Boris Collardi 11 percent less last year, including a voluntary cut after shareholders rejected his pay package last year.

For more, click on

FINMA

A British-born former UBS banker has been nominated to lead Switzerland's financial regulator after the surprise exit of its former head, three sources familiar with the matter told Reuters.

For more, click on

COMPANY STATEMENTS

* Syngenta said that its Elatus fungicide has been approved by the Brazilian authorities to treat soybean rust.

* The Swiss National Bank said it is proposing Heinz Karrer, president of business lobby Economiesuisse, to its board, to replace Gerold Buehrer, who resigns at the end of April.

* Kuehne & Nagel said full-year net profit rose more than 23 percent to 597 million Swiss francs ($677.79 million) amid a slight rise in turnover, just shy of expectations for 600 million francs in a Reuters poll. The transporter said it would lift its dividend to 3.85 francs per share as well as pay an extraordinary dividend of 2 francs per share.

* Ascom said it is proposing Christina Stercken and Harald Deutsch as new board members, a reflection of efforts strengthen in the global healthcare industry as well as continue to grow in new markets.

* Cembra said full-year net profit was virtually unchanged at 132.9 million francs and that it plans to pay a 2.85 franc per share dividend. The lender reiterated medium-term targets including a dividend pay-out ratio of between 60 and 70 percent of net income, and said it expects earnings per share of between 4.40 and 4.60 francs this year.

ECONOMY

February PMI at 0830 GMT

($1 = 0.8808 Swiss francs)

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