April 26, 2013 / 4:50 AM / 4 years ago

Swiss stocks - Factors to watch on April 26

3 Min Read

ZURICH, April 26 (Reuters) - Swiss stocks were expected to tick lower at the open of trading on Friday as investors trim positions following a five session rally.

The Swiss blue-chip SMI was seen opening 0.1 percent lower at 7,892 points, according to pre-market indications provided by Julius Baer.

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


Swiss hearing aid maker Sonova said on Friday its U.S. subsidiary would increase claims provisions by 198 million Swiss francs ($209 mln) after a U.S. court found the unit had supplied a faulty device.

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U.S. lawmakers seeking to create a national set of standards for tracking prescription drugs as they pass through the distribution chain heard testimony on Thursday from government and industry officials about how stringent the regulations should be.

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Citigroup Inc has hired two former UBS AG base metals executives to its growing metals trading desk as part of the U.S. bank's expansion of its commodities business, the bank said on Thursday.

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Swatch, Richemont

Luxury watchmakers expect sales growth to slow this year as a recovery in the United States and buoyant Middle East demand fail to offset a China slump more deep-rooted than a temporary blip caused by anti-corruption moves.

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Company Statements

* Credit Suisse sets final terms of the proposed stock dividend for the financial year 2012 at one new share for 41 existing shares.

* Meyer Burger said shareholders approved all proposals by the board, including a 150 million Swiss franc ($158.33 million) capital increase.

* Banque Cantonale de Geneve said Geneva's government approved a plan, to be submitted to the cantonal legislature, that would create a single nominative share, to be available to private shareholders as well as to public entities to increase liquidity, be more transparent, and allow the bank to adapt more easily to the new Basel 3 requirements.

* EFG Financial Products said shareholders approved all proposals including a 1.00 franc per share dividend, electing Notenstein representatives Pierin Vincenz and Adrian Kuenzi as well as Patrick de Figueiredo and Lukas Ruflin to the board, and approving the planned name change to "Leonteq" by mid-year.

* Interroll said Stefano Mercorio will be proposed to replace the departing Marco Ghisalberti on the board upcoming at the company's shareholder meeting May 10.

* Implenia said it completed the first terraced house at Neugrueen residential development in Mellingen, Switzerland's largest sustainable housing scheme.

* Elma electronic shareholders approve all motions proposed by the board of directors.


April KOF indicator at 0700 GMT

SNB annual general meeting, including speech by SNB chairman Thomas Jordan, begins at 0800 GMT

$1 = 0.9474 Swiss francs

0 : 0
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