Swiss stocks - Factors to watch on July 4

Fri Jul 4, 2014 2:22am EDT

ZURICH, July 4 - Swiss stocks were expected to open little changed on Friday, mirroring pauses on other exchanges following brisk gains since the start of the month.

The Swiss blue-chip SMI was seen opening steady at 8,694 points, according to premarket indications by bank Julius Baer.

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

ROCHE

Swiss drugmaker Roche said on Friday that Japan has become the first country to approve its drug alectinib that is intended to treat patients with a specific form of advanced lung cancer.

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COMPANY STATEMENTS

* Georg Fischer says its machining solutions division has acquired Swiss company Liechti Engineering AG , a maker of axle and milling machines used in the production of aircraft engines with an annual turnover of over 50 million Swisss francs.

* Thurgauer Kantonalbank says it has signed up to a U.S. tax programme to resolve a tax dispute with banks, but has put itself in a category of institutions that have not committed any U.S. tax-related offences and are therefore exempt from penalty payments.

* Adval Tech Group has signed a new agreement with four banks to replace its 85 million Swiss franc credit facility which expired at the end of June. The term to maturity on the new agreement is three years.

* Leclanche says Precept Fund Management has converted its outstanding loan of 2.2 million francs into 1.5 million ordinary shares of Leclanche.

* Nobel Biocare said its executive board would be reduced by two members. Walter Ritter, its head of global human resources and Petra Rumpf, head of corporate responsibility have both decided to leave the company.

* Acino has appointed Barthold Piening as its new chief operations operator, effective August 18.

ECONOMY

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