September 23, 2013 / 5:07 AM / 4 years ago

Swiss stocks - Factors to watch on Sept 23

2 Min Read

ZURICH, Sept 23 (Reuters) - Swiss stocks are seen creeping slightly higher at the open of trading on Monday, with the rest of Europe mixed as an upbeat survey on China's manufacturing sector is balanced by ongoing question marks over U.S. Federal Reserve policy.

The Swiss blue-chip SMI was seen ticking up at 8,113 points, according to premarket indications by bank Julius Baer .

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

Ubs

The global asset management division of Swiss bank UBS AG is among the final bidders for Australian toll road operator RiverCity Motorway Ltd, expected to sell for more than A$600 million ($563.22 million), people familiar with the process said.

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Swiss Re

The Swiss reinsurer said on Monday that July hail storms in northern and southern Germany could cost the company around $240 million to settle claims net of retrocession and before tax.

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Company Statements

* Novartis said its first-in-class once-daily dual bronchodilator UltibroBreezhaler achieves near simultaneous approval for COPD patients in Europe and Japan.

* Malaria No More and Novartis launch Power of One, a global digital fundraising campaign to help eliminate malaria deaths.

* Phoenix Mecano said it was raising its target payout ratio for dividend payments from the current 20-30 percent of result after tax adjusted for special items to 40-50 percent and ended its share buyback programme.

* Coltene Holding AG said Hans Grueter, its chief Financial Officer and a member of the Management Board of COLTENE Holding AG (SIX Swiss Exchange: CLTN), is leaving the Company to pursue a new career challenge in the software industry.

* Roche says to share important oncology data at European Cancer Congress.

Economy

* Swiss National Bank Chairman Thomas Jordan to give speech at KOF institute

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