November 23, 2012 / 5:50 AM / 5 years ago

Swiss stocks - Factors to watch on Nov 23

ZURICH, Nov 23 (Reuters) - Swiss stocks were set to edge slightly higher on Friday, with equities underpinned by optimism that the pace of global economic recovery was picking up and Greece was edging closer to getting the next tranche of aid.

However, Zurich trading looked set for another day of lackluster volume as many U.S. market participants bridged Thursday’s Thanksgiving holiday with the coming weekend. The Swiss blue-chip SMI was set to open virtually unchanged at 6682 according to premarket indications by bank Julius Baer, while the SMI future was 0.1 percent higher at 6685 points by 0721 GMT.

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

UBS

UBS is nearing a settlement in the coming days with regulators in Switzerland and Britain for control failures that led to a $2.3 billion rogue trading loss, a person familiar with the matter said on Thursday.

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COMPANY STATEMENTS

* Holcim said it would make a donation of 5 million Swiss francs to the Ernst Schmidheiny Foundation as part of its centenary celebrations.

* Walter Meier said it is taking over full ownership of MWH Barcol-Air, a manufacturer of chilled ceilings that the Swiss firm bought a minority stake in last year.

ECONOMY

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