Swiss stocks - Factors to watch on Nov 13
ZURICH, Nov 13 (Reuters) - Swiss shares were seen opening a touch lower on Friday after a sell-off on Wall Street overnight and ahead of Swiss producer and import prices for October late on Friday.
The blue chip SMI index .SSMI was expected to open 9 points lower at 6,347 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 Friday:
RICHEMONT (CFR.VX)
Richemont (CFR.VX), the world's second largest luxury goods group, said on Friday Executive Chairman Johann Rupert would also become chief executive and that it is prepared for a long recovery of the global economy as it published results.
For related news, click on [CFR.VX]
ZURICH FINANCIAL SERVICES (ZURN.VX)
Company said its life insurance division aims to triple contributions from Asia to more than 20 percent of total revenue in three to five years through organic growth.
For related news, click on [ZURN.VX]
PHARMA SECTOR
The head of the U.S. Food and Drug Administration defended the agency's decision not to use an additive that could have stretched swine flu vaccine supplies, adding that doses should be coming more regularly.
For related news, click on [DRU-LEN]
ECONOMY [M-CH]
*Swiss October producer and import prices due at 0815 GMT
*The SNB's short-term goal is to support the recovery, but it must find the right moment to normalise monetary policy in the medium term, board member Thomas Jordan said on Thursday.
*The SNB said third-quarter market recovery had a modest impact on the Stabfund made up of UBS toxic assets
COMPANY STATEMENTS [CNR-CH]
*Kudelski (KUD.VX) says successfully completes tender offer for OpenTV (OPTV.O)
*Syngenta (SYNN.VX) said it had won approval for genetically modified corn traits in Brazil
EQUITY RESEARCH [CH-RCH]
*Morgan Stanley rises Novartis (NOVN.VX) target to 49.50 Sfr
*UBS raises Holcim price target to 88 Sfr
*UBS raises Barry Callebaut to "Buy"
FOR COMPANIES TRADING EX-DIVIDEND, PLEASE CLICK ON:
.EX.S for all Swiss stocks
.EXSMI.S for blue chips
.EXNSMI.S for other stocks
