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Swiss stocks - Factors to watch on Dec 2
December 2, 2016 / 5:45 AM / 10 months ago

Swiss stocks - Factors to watch on Dec 2

ZURICH, Dec 2 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 7,772 points on Friday, according to premarket indications by bank Julius Baer .

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

SWISS RE

The company reaffirmed its financial targets and said it would focus on using research and development to access new growth areas in a challenging environment.

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CREDIT SUISSE

The Zurich-based international bank’s newly minted Swiss bank will be held up to the same capital standards as its global parent, Switzerland’s State Secretariat for Financial Matters (SIF) said on Thursday.

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COMPANY STATEMENTS

* Adecco said it had completed a tender offer on two existing notes maturing in April 2018 and November 2019.

* Meyer Burger Technology published the final terms of its planned capital increase and the final proposals to Friday’s extraordinary shareholders’ meeting. It also announced the signing of the extension of the existing bank credit facilities.

* Zug Estates said Beat Schwab will be proposed as its new chairman of the board of directors, succeeding Hannes Wueest.

* Basilea said it was expanding oncology drug candidate BAl101553 clinical phase 1/2a oral study to include glioblastoma patients.

ECONOMY

The Swiss economy was flat in the third quarter compared to the previous quarter, the State Secretariat for Economic Affairs (SECO) said on Friday. The year-on-year increase was 1.3 percent.

Reporting by Zurich newsroom

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