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Swiss stocks - Factors to watch on Oct 3

Fri Oct 3, 2008 1:15am EDT

Stocks

   

ZURICH, Oct 3 (Reuters) - The following are some of the main factors expected to affect Swiss stocks on Friday:

UBS (UBSN.VX)

UBS AG will reorganise its troubled investment bank, closing its commodities business and cutting a further 2,000 jobs, the Swiss bank said on Friday.

For related news click on [UBSN.VX]

ZURICH FINANCIAL SERVICES (ZURN.VX)

Zurich Financial Services is writing down $615 million worth of investments related to Sigma Finance Corp, Lehman Brothers (LEHMQ.PK) and Washington Mutual (WM.N), the Swiss insurer said on Thursday.

For related news click on [ZURN.VX]

ROCHE (ROG.VX)

* Roche remains in discussions with a group of ten to fifteen core relationship banks regarding a loan for a potential new bid for U.S. biotechnology group Genentech DNA.N, bankers close to the deal told Reuters Loan Pricing Corp.

* Genentech on Thursday warned doctors that a patient being treated with its psoriasis drug Raptiva has developed a rare brain infection known as progressive multifocal leukoencephalopathy, or PML.

* A U.S. court on Thursday affirmed a jury verdict upholding Amgen Inc (AMGN.O) patents on its blockbuster anemia drugs, effectively blocking Roche Holding AG from selling a rival drug in the United States, Amgen said.

For related news click on [ROG.VX]

NOVARTIS (NOVN.VX)

Over-the-counter cough and cold medicines, including Novartis's Triaminic, should not be sold for young children because they are unproven and can be dangerous, doctors and consumer advocates said on Thursday, despite objections from industry representatives.

For related news click on [NOVN.VX]

COMPANY STATEMENTS [CNR-CH]

* Rieter (RIEN.S) to concentrate automotive production in Barcelona [RIEN.S]

* Helvetia (HELN.S) finalises purchase of Chiara Vita in Italy [HELN.S]

* UBS (UBSN.VX) fund boards of directors/trustees approve UBS U.S. money market funds participation [UBSN.VX]

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

ECONOMY

Swiss consumer price inflation data for September is due at 0545 GMT.

For related news, click on [M-CH]


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