Swiss stocks - Factors to watch on May 20

Tue May 20, 2014 2:38am EDT

ZURICH, May 20 - Swiss stocks were expected to open little changed on Tuesday in line with other European bourses with Credit Suisse indicated slightly higher following a settlement in the U.S. tax matter.

The Swiss blue-chip index was seen rising 0.1 percent to 8,651 points, according to premarket indications by bank Julius Baer.

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

CREDIT SUISSE

Credit Suisse on Monday became the largest bank in 20 years to plead guilty to a U.S. criminal charge, and will pay a $2.5 billion fine to authorities for helping Americans evade taxes, Attorney General Eric Holder said.

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SONOVA

Sonova, the world's largest maker of hearing aids, forecast another year of double-digit earnings growth on Tuesday after strong sales of new products helped it post a 12 percent rise in full-year core profit.

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GLENCORE

The mining and commodities trading group will hold its annual general meeting.

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COMPANY STATEMENTS

* Swiss exchange operator SIX Group said it had elected Robert Jeanbart as chief executive of its financial information division, a role that had been filled on an interim basis for almost a year.

* Semiconductor provider U-Blox said it bought Swedish short-range radio module provider connectBlue AB in a deal with an enterprise value of 25 million Swiss francs ($28 million).

* Ypsomed Holding Group, a manufacturer of injection pens for pharmaceutical and biotech companies, said it had elected Simon Michel as chief executive to succeed his father on July 1.

* Orior, a provider of convenience food and meat, said its subsidiary Fredag acquired organic tofu specialist Noppa AG.

* Glarner Kantonalbank said it planned to list on the Swiss stock exchange.

ECONOMY

($1 = 0.8916 Swiss Francs)