April 23, 2014 / 5:20 AM / in 4 years

Swiss stocks - Factors to watch on April 23

ZURICH, April 23 (Reuters) - Swiss stocks were seen opening a tough higher on Wednesday, as investors await manufacturing data for France, Germany and the euro zone.

The Swiss blue-chip SMI was seen rising 0.1 percent to 8,470 points, according to premarket indications by bank Julius Baer.

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


Swiss engineering components firm SFS IPO-SFSH.S said it seeks to raise as much as 348 million Swiss francs ($392.95 million) by issuing new shares when it lists on the Swiss bourse next month.

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* Novartis said it will present new data at a neurology conference in Philadelphia which confirm the efficacy of its Gilenya treatment across four key measures of MS disease activity, including brain volume loss.

* Straumann said it has been granted a call option as part of a distribution agreement to acquire shares in Berlin-based botiss, which supplies oral tissue regeneration products that, if exercised, could lead to a stake in the German company of up to 30 percent in 2017.

* GAM said its three-year share buyback initiated in 2011 concluded with the repurchase of a total of 30,865,269 shares at the average price of 13.63 francs, utilising overall 420.7 million francs. The fund manager last month announced a new buyback for up to 10 percent of its shares over the next three years.

* OC Oerlikon said it opened a second coating center in Austria, creating the capacity its unit needs to meet the growing demand in Europe for innovative coating solutions for tools.

* Mobimo said it will issue a 7-year 200 million franc straight bond with a coupon of 1.625 percent to replace short-term debt facilities, finance ongoing projects as well as general corporate purposes. Zuercher Kantonalbank and Credit Suisse acted as joint lead managers of the transaction and a listing on SIX Swiss Exchange is planned.

* Phoenix Mecano said full-year profit rose nearly 24 percent to 22.4 million euros ($30.90 million) and that it expects this year’s operating result to exceed 2013. The company set a payout ratio of 40 to 50 percent of its net result, and proposes paying 15 francs per share for last year.

* Crealogix said it has established subsidiaries in London and Singapore, seeing strong growth potential in these markets.


$1 = 0.8856 Swiss Francs $1 = 0.7248 Euros

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