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Swiss stocks - Factors to watch on Sept 5
September 5, 2014 / 5:30 AM / 3 years ago

Swiss stocks - Factors to watch on Sept 5

ZURICH, Sept 5 (Reuters) - Swiss stocks were expected to open slightly lower on Friday, in line with European markets set to dip after the previous session’s sharp rally spurred by the European Central Bank’s surprise interest rate cut and new measures to support the euro zone economy.

The Swiss blue-chip SMI was seen falling 0.2 percent, according to the SMI future.

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

ABB

Swiss automation technology group ABB said it had formed an alliance with China’s BYD to develop energy storage as it looks to find new ways to charge electric vehicles and boost usage of renewable energy sources.

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BANKS

* Thirteen of the world’s biggest banks, including UBS and Credit Suisse, have been accused by an Alaska pension fund of breaking U.S. antitrust and commodities laws by rigging an interest rate benchmark used to price many financial instruments in the $710 trillion derivatives market.

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* A Manhattan federal judge said on Thursday that investors may pursue a lawsuit accusing 12 major banks, including UBS and Credit Suisse, of violating antitrust law by fixing prices and restraining competition in the roughly $21 trillion market for credit default swaps.

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BELLEVUE GROUP Bellevue Group said on Friday it was acquiring Adamant Biomedical Investments AG from Zuercher Kantonalbank for an undisclosed price, strengthening its position in healthcare investing.

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COMPANY STATEMENTS

* Basilea said that extensive data on the anti-fungal isavuconazole and the antibiotics ceftobiprole and BAL30072 will be presented at a conference in Washington from Sept. 5-9.

* Givaudan said it appointed Maurizio Volpi as the head of its fragrance business. He will take over from Michael Carlos, who retires, on Jan. 1.

* Peach Property celebrated the topping-out ceremony for a residential project, Living 108, on Chausseestrssee, in Berlin’s Mitte district.

* u-blox said its net profit grew 18.4 percent to 14.4 million Swiss francs in the first half of 2014. It confirms its guidance for the full year of revenues between 264-275 million francs, with an EBIT in the range of 35-39 million francs.

ECONOMY

* Foreign currency reserves for August due at 0700 GMT

* Swiss industrial orders for the second quarter due at 0715 GMT

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