Swiss stocks - Factors to watch on July 9

Thu Jul 9, 2009 1:02am EDT
 
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ZURICH, July 9 (Reuters) - The following are some of the main factors expected to affect Swiss stocks on Thursday:

UBS (UBSN.VX)(UBS.N)

* A judge ordered the U.S. government to say whether it was prepared to shut Swiss bank UBS AG in the United States as part of a battle to learn the identity of 52,000 secret accounts suspected of being used by Americans to avoid taxes.

* The Swiss Parliament may not approve a double taxation treaty between Switzerland and the United States if the legal action against Swiss bank UBS is not resolved, Swiss minister for economic affairs Leuthard said on Wednesday.

* UBS may be able to pay up to $5.5 billion to end a damaging U.S. tax dispute without needing an immediate cash injection, thanks to a recent capital increase and proceeds from asset sales.

For related news click on [UBSN.VX]

ROCHE (ROG.VX)

Avastin, a widely used cancer drug made by Roche AG, shrank tumors growing along the nerves leading to the ears, improving the hearing of patients with a rare tumor, researchers reported on Wednesday.

For related news click on [ROG.VX]

ECONOMY [M-CH]

Funds of hedge funds are beginning to see net client inflows again after a tough period of redemptions and concerns over the Madoff fraud, S&P Fund Services' director of fund research told Reuters.

For related news click on [ID:nL7182659]

  Continued...

 

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