Swiss stocks - Factors to watch on Oct 3

Fri Oct 3, 2008 1:15am EDT
 
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ZURICH, Oct 3 (Reuters) - The following are some of the main factors expected to affect Swiss stocks on Friday:

UBS (UBSN.VX)

UBS AG will reorganise its troubled investment bank, closing its commodities business and cutting a further 2,000 jobs, the Swiss bank said on Friday.

For related news click on [UBSN.VX]

ZURICH FINANCIAL SERVICES (ZURN.VX)

Zurich Financial Services is writing down $615 million worth of investments related to Sigma Finance Corp, Lehman Brothers (LEHMQ.PK) and Washington Mutual WM.N, the Swiss insurer said on Thursday.

For related news click on [ZURN.VX]

ROCHE (ROG.VX)

* Roche remains in discussions with a group of ten to fifteen core relationship banks regarding a loan for a potential new bid for U.S. biotechnology group Genentech DNA.N, bankers close to the deal told Reuters Loan Pricing Corp.

* Genentech on Thursday warned doctors that a patient being treated with its psoriasis drug Raptiva has developed a rare brain infection known as progressive multifocal leukoencephalopathy, or PML.

* A U.S. court on Thursday affirmed a jury verdict upholding Amgen Inc (AMGN.O) patents on its blockbuster anemia drugs, effectively blocking Roche Holding AG from selling a rival drug in the United States, Amgen said.

For related news click on [ROG.VX]

  Continued...

 

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