ZURICH, July 9 Swiss stocks were seen opening
flat on Wednesday, with many investors awaiting the minutes of
the U.S. Federal Reserve's last policy meeting for clues on when
interest rates may rise.
The Swiss blue-chip SMI was seen opening virtually
unchanged at 8,556 points, according to premarket indications by
bank Julius Baer.
The following are some of the main factors expected to
affect Swiss stocks on Wednesday
L'Oreal finalised the buyback of an 8 percent
stake in the French cosmetics giant from the Swiss food group
Nestle, the two firms said.
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* Zurich Insurance said it placed 600 million
Swiss francs ($672.34 million) of senior unsecured notes in
three tranches -- consisting of a 150 million franc bond with a
maturity of 12 years and an annual coupon of 1.50 percent, a 250
million franc bond with a maturity of 6 years and an annual
coupon of 0.625 percent, and a 200 million franc bond with a
maturity of 23 months and a quarterly coupon of 3-month Swiss
franc Libor plus 0.16 percent -- to retail and institutional
investors in the Swiss franc domestic market in order to
refinance outstanding senior debt.
* Glarner Kantonalbank said it has exercised a
greenshoe allotment of its recent initial public offering of
450,000 shares, bringing the total raised to nearly 64 million
* The Swiss stock exchange SIX said it will not make any
additions or exclusions to the blue-chip Swiss Market Index, or
SMI, in an annually conducted review.
* Georg Fischer said its automotive division will
enter a strategic and financial partnership with German mold
maker Meco Eckel GmbH, in a bid to strengthen the Swiss firm's
position as a supplier of light-metal die castings. The two
agreed not to disclose financial details of the tie-up.
* Helvetia said it is confident that all issues
raised by Standard & Poor's following the takeover of Nationale
Suisse will be minimized and resolved, and that a "credit watch
with negative implications" by the ratings agency is not
expected to have any effect on its ability to refinance the deal
in the capital markets.
* Cosmo Pharmaceuticals said it will combine a
subsidiary with Salix Pharmaceuticals, in a bid for the
Raleigh, NC-based firm to establish a tax efficient corporate
structure to enhance acquisition strategy and organic growth.
* Cosmo Pharmaceuticals said it will unwind an
agreement Valeant Pharmaceuticals over experimental
acne treatment CB-03-01 and replace it with an agreement
granting the Canadian drugmaker a right of first refusal should
Cosmo decide to license out the drug after completing its
* Myriad said total registered subscribers in its
MSNGR chat service rose by 34 percent to 67 million in the
* Meyer Burger said it has installed and
commissioned the first next generation SpotLIGHT cell tester for
high efficiency solar cells in an industrial manufacturing
($1 = 0.8924 Swiss Francs)