June 16, 2014 / 5:30 AM / 3 years ago

Swiss stocks - Factors to watch on June 16

2 Min Read

ZURICH, June 16 (Reuters) - Swiss stocks were expected to open little changed on Monday as mounting violence in Iraq and a rising oil price dampen sentiment.

The Swiss blue-chip SMI was seen inching up 0.1 percent to 8,661 points, according to premarket indications by bank Julius Baer.

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


Actelion Ltd said its experimental heart and lung drug Selexipag met its primary goal in a late-stage study, giving the Swiss biotech company a potential second big seller to replenish its product pipeline.

The shares were indicated up 6.4 percent, according to premarket indications.

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Credit Suisse

BlackRock Inc. said Credit Suisse's guilty plea in a U.S. tax evasion case does not affect its business relationship with the Swiss bank, the chief executive of the world's biggest asset manager told a Swiss newspaper.

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Syngenta said on Monday it had agreed to buy Swedish food, energy and agriculture group Lantmaennen's winter wheat and oilseed rape breeding and business operations in Germany and Poland.

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Company Statements

* Sulzer said it had agreed to buy Grayson Armature, an independent electromechanical service provider in Houston for an enterprise value of $42 million.

* Novartis said U.S. health regulators have licensed its manufacturing site in Holly Springs for the production of cell-culture flu vaccines.

* Sonova said it has acquired 100 percent of the shares of Sweden's Comfort Audio i Halmstad AB, a maker of assistive devices to aid hearing in challenging situations, for an undisclosed price. The Swedish firm employs about 90 people and had sales of 19 million Swiss francs ($21 million) in 2013.


$1 = 0.9005 Swiss Francs

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