November 15, 2012 / 5:45 AM / 5 years ago

Swiss stocks - Factors to watch on Nov. 15

2 Min Read

ZURICH, Nov 15 (Reuters) - Swiss stocks were set to open lower on Thursday, in line with markets elsewhere in Europe on concerns about the fiscal situation in the United States and about a possible recession in the euro zone.

The blue-chip SMI was set to open down 0.5 percent at 6,642 points, pre-market data provided by bank Julius Baer showed.

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

Zurich Insurance Group

Zurich Insurance Group saw its net profit fall 62 percent in the third quarter, falling short of expectations. ž

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Abb

Engineering firm ABB on Thursday appointed veteran employee Eric Elzvik as its new chief financial officer, filling a vacancy left by the outgoing Michel Demare.

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Vontobel

Swiss bank Vontobel said a solid inflow of net new money and positive market developments helped lift assets under management to 96 billion Swiss francs ($101 billion) at the end of October.

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Company Statements

* Gategroup said net profit in the first nine months of the year was 16.9 million francs, down from 43.1 million francs a year earlier hit by higher restructuring charges and financing costs.

* Implenia said the competition commission was investigating suspected anti-competitive agreements.

* AFG said the restructuring of the group was proceeding according to plan.

* Schlatter said it plans declarative capital reductions.

* Zueblin said its portfolio restructuring was on schedule and that the value of its real estate portfolio amounted to 1.08 billion francs at 30 September 2012.

* Huegli said Sven Matthisson has decided to leave the group and that Joerg Meyer would be the new head of the private label division.

Economy

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