March 26, 2014 / 5:45 AM / 3 years ago

Swiss stocks - Factors to watch on March 26

3 Min Read

ZURICH, March 26 (Reuters) - Swiss stocks were expected to edge higher on Wednesday, tracking gains made in Asian and U.S. trade, where buoyant U.S. consumer confidence and house prices helped to fuel gains.

The Swiss blue-chip SMI was seen rising 0.2 percent to 8,315 points, according to premarket indications by bank Julius Baer.

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


The Swiss government is set to appoint Mark Branson, a British-born former banker, as the first non-Swiss national to head its financial regulator, two sources said, just as the body probes currency markets and prepares for a major review of big banks.

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Syngenta AG said that grain prices have played a role in China's rejection of U.S. corn shipments containing an unauthorized, genetically modified trait developed by the company.

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The broker tug-of-war between Morgan Stanley and UBS Wealth Americas in Florida continued this month as veteran adviser David Behar jumped to Morgan Stanley after nine years with UBS.

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Norwegian telecom firm Telenor has sold its business providing encryption and content security for digital TV to Switzerland's Kudelski for 1.5 billion crowns ($248) million), Telenor said on Wednesday.

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Company Statements

* BKW said it swung to a full-year net loss of 216.7 million Swiss francs ($244.53 million) from a year-ago profit due to 489 million francs in impairments on production facilities and investments, and proposed a dividend of 1.20 francs per share.

* Sonova said it will present a range of new products and campaigns under its brands Phonak and Unitron, including a third generation of hearing instrument Lyric, at an industry conference beginning Wednesday in Orlando, Florida.

* Emmi said full-year net profit rose 7 percent to 104.6 million francs on a disposal and a rise in sales, and that it will hike its dividend to 3.80 francs per share.

* Aryzta said its acquisition of Cloverhill Bakery closed on March 25.

* Komax said full-year net profit rose to 25.1 million francs from 9.4 million francs on the year, and that it will distribute 4.50 francs per share to shareholders from capital contribution reserves, more than double last year's 2.00 franc per share payout.

* Conzzeta said full-year net profit rose 59 percent to 73.4 million francs on the year, and that will reduce its share capital instead of paying a dividend. The par value of the bearer share will be reduced from 100 francs to 10 francs, that of the registered share from 20 francs to 2 francs, not subject to withholding tax.


The UBS Swiss consumption indicator rose to 1.57 points in February from 1.49 in January, the Swiss bank's economists said.

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$1 = 0.8862 Swiss Francs

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