November 28, 2012 / 5:56 AM / 5 years ago

Swiss stocks - Factors to watch on Nov 28

2 Min Read

ZURICH, Nov 28 (Reuters) - Swiss shares are set to open lower on Wednesday, in line with other European exchanges seen opening weaker as scepticism begins to emerge over how Greece can implement the reforms needed to meet the terms of in international aid plan.

The Swiss blue-chip SMI was seen opening 0.2 percent lower at 6,699 points, according to premarket indications from Bank Julius Baer.

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

Swiss Life

Swiss Life said on Wednesday it will slash by 576 million Swiss francs ($618.39 million) the valuation of the German advisory arm it bought just four years ago, and drop the name AWD as it draws a line under the troubled brand.

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Stoxx 600

Airports manager Flughafen Zurich to be added to the Stoxx Europe 600 index as of December 24. Dental care companies Straumann and Nobel Biocare to be removed from the index.

Company Statements

* Nestle Health Science, a fully owned subsidiary of Nestle , and the pharmaceutical and healthcare group Chi-Med, have agreed to form a 50/50 joint venture to be named Nutrition Science Partners Limited.

* Datacolor AG says fiscal 2011-2012 sales rose to $55.9 million, EBIT rose to $5.4 million, net income rose to $4.2 million; proposed dividend of 11 Sfr per share.

* Adecco reports a shareholding in its own shares of below 3 pct.

* Orascom Development expects to report positive operating cash flow of 20-25 million Swiss francs in the third quarter of 2012 despite a net loss of 30-35 mln Sfr.


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