Swiss stocks - Factors to watch on March 13

ZURICH, March 13 Thu Mar 13, 2014 3:28am EDT

ZURICH, March 13 (Reuters) - Swiss stocks were expected to open a touch lower on Thursday, while a rebound was expected in European shares, as further economic data from China hinted at a slowdown in growth in the world's second-largest economy.

The Swiss blue-chip SMI was seen falling 0.1 percent to 8,304 points, according to premarket indications by bank Julius Baer.

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

ADECCO

The Jacobs group said it would sell a 16 percent stake in Adecco, the world's largest staffing agency, in an accelerated bookbuilding which will reduce its stake to 2.5 percent as it attempts to diversify its portfolio.

For more, click on

CREDIT SUISSE

A former Credit Suisse banker pleaded guilty on Wednesday to conspiring to help U.S. customers evade taxes by using Swiss accounts, and said he did so with the encouragement of his superiors, according to documents filed in court.

For more, click on

COMPANY STATEMENTS

* Actelion said the California Supreme Court had denied its petition for review of a Court of Appeal decision in the November 2011 case with Asahi Kasei Pharma Corp.

* Swiss drugmaker Roche said a panel for the U.S. Food and Drug Administration had recommended its test for the Human Papillomavirus as a first line, primary screening tool in women aged 25 years and older. If approved, the cobas HPV Test would become the first and only HPV test indicated as the first-line primary screen of cervical cancer in the United States, Roche said.

* Novartis said its Bexsero meningitis B vaccine had received clinical recommendation for use in infants and adolescents in Australia.

* Schmolz + Bickenback said it had appointed Clemens Iller as its chief executive officer, assuming the role on April 1. The firm reported a net loss of 39.2 million euros in the fourth quarter 2013, compared with a loss of 135.6 million in the prior-year quarter.

* Pargesa reported 2013 net income fell to 394 million Swiss francs, compared to 405 million in 2012.

* Tamedia posted a fall in 2013 net income to 119.1 million Swiss francs from 139.1 the previous year.

* Gategroup reported a profit of 10.3 million Swiss francs in the fourth quarter of 2013, compared to a loss of 72.4 million in the prior-year quarter.

* Oerlikon Balzers said it had increased production capacity for its technology-leading diamond coatings to meet growing demand from the aircraft and automotive industries.

* Dufry reported a 24.1 percent fall in net earnings attributable to shareholders to 93.0 million Swiss francs in 2013, compared with 122.5 Swiss francs in 2012.

* Kardex said it had completed the restructuring process begun in 2011 and reported a gross profit of 113.7 million euros in 2013 compared with 118.4 million the previous year.

ECONOMY

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