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Swiss stocks - Factors to watch on July 22
July 22, 2014 / 4:50 AM / 3 years ago

Swiss stocks - Factors to watch on July 22

ZURICH, July 22 (Reuters) - Swiss stocks were seen opening higher on Tuesday in line with European equities, which were seen rebounding as traders took heart from a late recovery on Wall Street and encouraging signs in the investigation into the downing of an airliner in Ukraine last week.

The Swiss blue-chip SMI was seen opening up 0.4 percent at 8,545 points, according to premarket indications by bank Julius Baer.

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

CREDIT SUISSE

Credit Suisse reported its biggest quarterly loss since the collapse of Lehman Brothers in 2008, due to a 1.6 billion Swiss franc ($1.78 billion) charge taken following a May settlement with U.S. authorities over tax evasion charges.

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CREDIT SUISSE

Credit Suisse said it was winding down its commodities trading to focus its resources on more profitable areas of its business.

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SWATCH GROUP

Swatch Group said it expected a positive second half of the year after a rise in the Swiss franc and expenses for the Sochi Olympic Games made net profit fall 11.5 percent in the first half.

For more, click on [UHR.VX ]

ACTELION

Actelion hiked its 2014 profit forecast for the second time this year on Tuesday, encouraged by strong sales of its new heart and lung drug Opsumit.

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ROCHE

Roche said the FDA had granted Avastin priority review for recurrent platinum-resistant ovarian cancer.

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COMPANY STATEMENTS

* AFG Arbonia-Forster said earnings before interest tax dropped to 5.8 million francs in the first half from 18.4 million francs in the year-ago period and will likely also be down in the full year.

*Sulzer said first-half net income was 483.5 million Swiss francs versus 99.5 million year ago, mainly due to divestiture of Metco.

* Swissquote said first-half net profit fell 18 percent to 11.1 million Swiss francs.

ECONOMY

Exports from Switzerland rose by a real 2.2 percent in June to 16.9 billion Swiss francs ($18.81 billion) compared to the year before, the Federal Customs Office said on Tuesday.

$1 = 0.8983 Swiss Francs

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