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Swiss stocks - Factors to watch on June 12
June 12, 2014 / 5:00 AM / 3 years ago

Swiss stocks - Factors to watch on June 12

ZURICH, June 12 (Reuters) - Swiss stocks were expected to open flat on Thursday, in line with European markets, as the market’s recent sharp rally stalled and investors await positive catalysts before chasing stocks higher.

The Swiss blue-chip SMI was seen opening unchanged at 8,712 points, according to premarket indications from bank Julius Baer.

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

NOVARTIS

Tokyo prosecutors raided the Japanese unit of Novartis AG on suspicion of manipulating data to promote the Swiss drugmaker’s best-selling blood pressure drug Diovan, a local Novartis spokeswoman said.

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COMPANY STATEMENTS

* Basilea said it initiated a phase 1 combination study with its Gram-negative antibiotic BAL30072 and meropenem.

* PubliGroupe : The Swiss Takeover Board decided to harmonise the timetable for the public tender offers from Tamedia and Swisscom.

* Myriad Group said it launched a new user interface, increased functionality and a new back end for scalability for its Latin America messaging service.

* Schaffner Group will give an update on the implementation of its strategy at its investor day.

ECONOMY

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