ZURICH Feb 3 Swiss stocks were expected to open
slightly lower on Monday as concerns about emerging market
currencies and slightly slower growth in China's manufacturing
sector in January dampened risk appetite.
The Swiss blue-chip SMI was seen slipping nearly 0.1
percent to 8,184 points, according to premarket indications from
bank Julius Baer.
The following are some of the main factors expected to
affect Swiss stocks on Monday:
Swiss drugs group Novartis NOVN.VX is planning to cut or
transfer up to 4,000 jobs, newspaper Neue Zuercher Zeitung am
Sonntag reported on Sunday, citing an internal email.
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Julius Baer said it will hit the lower end of its target for
the transfer of assets invested by former clients of Merrill
Lynch's overseas wealth arm, after the Swiss bank missed
full-year profit targets.
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* Looser Holding said it expected a significant
drop in consolidated net income for 2013 compared to the
* Sulzer said it had agreed to buy a 75 percent
stake in Saudi Pump Factory for a price of 33 million Swiss
* Sika said it had appointed Adrian Widmer as Chief
Financial Officer with effect from March 1, 2014.
* Schindler Holding said it will not participate in
the next capital increase of Hyundai Elevator planned for
* Gurit said it expected to reach a full-year
operating profit margin of roughly 2 percent of net sales, whcih
stood at 281.1 million Swiss francs due to low materials sales
volume and impairment charges. Full earnings are due March 14.
* Peach Property said it expects to report a 2 to 3
million franc full-year loss before taxes -- smaller than
expected -- because of previously disclosed significant one-off
costs. Full-year sales volume reached around 86.3 million francs
while operating income rose to 56 million francs. Full earnings
are due March 13.
* January PMI at 0830 GMT
* The Swiss National Bank would only consider scrapping its
minimum exchange rate of 1.20 Swiss francs per euro if inflation
were much higher and there was less upward pressure on the
currency, its vice-chairman was quoted as saying on Sunday.