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Swiss stocks - Factors to watch on June 4
June 4, 2014 / 5:01 AM / 3 years ago

Swiss stocks - Factors to watch on June 4

ZURICH, June 4 (Reuters) - Swiss stocks were seen idling on Wednesday, as investors move to the sidelines ahead of expected measures from the European Central Bank to support the region’s economic recovery.

The Swiss blue-chip SMI was seen virtually unchanged at 8,661 points, according to premarket indications by bank Julius Baer.

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

DUFRY

Swiss travel retailer Dufry said it will buy Nuance Group for 1.55 billion Swiss francs ($1.73 billion), in a bid to bolster its business in the Mediterranean, Europe, Asia and the United States.

COMPANY STATEMENTS

* Sonova said it is hiring the Nestle executive in charge of selling baby milk dispenser BabyNes, Martin Grieder, as group vice-president from August 1. Grieder will oversee the business of brand Phonak globally, along with responsibility for profit-and-loss accounts, and report directly to overall Chief Executive Lukas Braunschweiler.

* Cembra said it refutes recent media allegations related to its credit agent business, in connection with a pending civil litigation initiated by the former agent. Cembra said it is convinced that the claim lacks proper legal basis and is without merit. Cembra said it is fully cooperating with a FINMA investigation of the former agent’s allegations.

* Feintool said it has been notified by fund manager Fidelity Worldwide Investment that it is reducing its shareholding in the company to 2.46 percent, from 4.86 percent previously.

* Lem said full-year net profit rose nearly 41 percent to 45.64 million francs and that it expects a modest pick-up in Europe and North America, while performance in China should remain robust.

* Goldbach said it is withdrawing from Russia and will sell Goldbach Interactive Russia to a Russian internet company for an undisclosed price due to the difficult market environment and the unsatisfactory growth in business. Goldbach said it doesn’t expect a significant impact on business results as a result of the market exit.

* Evolva said it will collaborate with Universiti Malaysia Pahang to establish a scientific Centre of Excellence for natural products from Malaysia as part of the Flavor and Fragrance Cluster in the state of Pahang.

ECONOMY

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