• Most Popular
  • Most Shared

Swiss stocks - Factors to watch on Nov 16

Mon Nov 16, 2009 2:31am EST

Stocks

   

ZURICH, Nov 16 (Reuters) - Swiss shares were seen opening higher on Monday, in line with other markets across Europe.

The blue chip SMI index .SSMI was expected to open 25 points higher at 6,376 points, according to pre-market data from bank Clariden Leu CLPRE.

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

UBS (UBSN.VX)

* UBS may hand over only a small amount of bank data as part of a U.S. settlement because the Internal Revenue Service has succeeded in cracking down on tax evaders, a radio station reported. More than 9,000 Americans had been persuaded to talk about their Swiss bank accounts under a tax amnesty, he added.

* Switzerland's financial regulator FINMA has received no request from UBS to buy back toxic assets transferred to the Swiss central bank last year, FINMA's head was quoted on Sunday as saying.

For related news click on [UBSN.VX]

ADDEX (ADXN.S)

Swiss biotech group Addex Pharmaceuticals said its lead drug candidate met its main target in a mid-stage clinical trial in heartburn, potentially paving the way for a lucrative partnering deal.

For related news click on [ADXN.S]

SWATCH GROUP (UHR.VX)

Swatch Group, the world's largest watchmaker, should post a second-half operating margin at a similar level to the 14.7 percent posted in the first half of the year if the Swiss franc-dollar exchange rate does not deteriorate further, Chief Executive Nick Hayek was quoted as saying in Sonntag.

Hayek also said he expected 2010 to be a "very good year", with America likely to be the only market that will suffer a bit longer.

For related news click on [UHR.VX]

NOVARTIS (NOVN.VX)

Switzerland has approved Novartis AG's Celtura H1N1 swine flu vaccine as it rolls out its national vaccination programme ahead of the winter flu season, regulators said on Friday.

For related news click on [NOVN.VX]

ECONOMY [M-CH]

COMPANY STATEMENTS [CNR-CH]

* Cicor Technologies Ltd. (CICN.S) publishes terms of capital increase and extends credit agreement with banking consortium [CICN.S]

* Swisslog (SLOG.S) formalized an agreement with TargetCorporation, a leading retailer in the USA, to design and implement a new picking and storage system.[SLOG.S]

EQUITY RESEARCH [CH-RCH]

FOR COMPANIES TRADING EX-DIVIDEND, PLEASE CLICK ON:

.EX.S for all Swiss stocks

.EXSMI.S for blue chips

.EXNSMI.S for other stocks



More from Reuters

U.S. Speaker of the House Nancy Pelosi (C) is surrounded by reporters as she walks towards the U.S. House of Representatives chamber to begin the vote on health care reform on Capitol Hill in Washington, March 21, 2010. REUTERS/Larry Downing

Democrats face dubious voters

Democrats in Congress who passed historic legislation to revamp the healthcare system face a new challenge: convincing voters it's a good deal.  Full Article | Video 

Healthcare reform
A soldier guards hundreds of bags of wheat seed in the isolated district of Nad Ali's district centre in the west of Helmand province, October 17, 2009

Dirty money and Afghan war

As the war in Afghanistan enters its ninth year, the U.S. has finally realized the best way to stop the conflict is to cut the flow of drug money, columnist Bernd Debusmann writes.   Commentary 

    Afghanistan
    An H1N1 flu vaccine inoculation is given at the Geisinger Medical Center in Danville, Pennsylvania October 28, 2009. REUTERS/Brad Bower

    A new stab at conquering pain

    Millions of people worldwide suffer chronic pain that can last weeks, months or years but relief may be on the way.  Full Article 

      Pharmaceuticals