February 11, 2013 / 5:40 AM / 5 years ago

Swiss stocks - Factors to watch on Feb 11

ZURICH, Feb 11 (Reuters) - Swiss stocks are seen opening largely unchanged on Monday, with trading expected light amid the Lunar New Year holiday, shutting most Asian financial centres.

The Swiss blue-chip SMI was seen opening flat at 7,396 points, according to premarket data provided by bank Julius Baer.

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


Credit Suisse’s top investment banker for Qatar has resigned, three banking sources said, in a move that comes as the Swiss bank tries to bolster operations in the Gulf state, home to its second-largest shareholder.

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* Gategroup said it will not propose a dividend for 2012 after swinging to a 56.9 million Swiss franc ($62.01 million) loss for the year as it restructures its ailing European airline business.

* Galenica said it is submitting PA21, a chewable, iron-based phosphate binder for the control of hyperphosphatemia in patients with chronic kidney disease, to the U.S. Food and Drug Adminstration. Further submissions for approval are being prepared.

* Also said fourth-quarter net profit rose 27 percent to 21.5 million euros, while pretax rose 29 percent to 28.5 million euros.

* Lem said it will invest 2 million francs into a new low-cost production plant in Sofia, Bulgaria expected to open in October.

* OC Oerlikon said Geneva-based research center CERN ordered over 50 mobile leak detection systems including the matching Remote Control System from the company.


The Swiss National Bank will keep its cap on the franc’s value at 1.20 per euro “for the foreseeable future” and stands ready to do more if necessary to stem the currency’s rise, a policymaker was quoted as saying.

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$1 = 0.9176 Swiss francs

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