October 25, 2012 / 4:00 AM / in 5 years

Swiss stocks - Factors to watch on Oct. 25

ZURICH, Oct 25 (Reuters) - Swiss stocks were expected to open slightly lower on Wednesday as heavyweights Credit Suisse , Novartis and ABB were seen dragging down the index.

European indices were set to open higher after data from China signalled a recovery was gaining pace there, though concerns about the health of third-quarter company earnings elsewhere could cap gains.

The Swiss blue-chip SMI was seen falling 0.2 percent to 6,616 points, according to premarket indications from bank Julius Baer.

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


Credit Suisse said on Thursday it would target an extra 1 billion Swiss francs ($1.07 billion) of cost savings by 2015, after third-quarter net profit shrank by more than half.

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* Novartis AG said on Thursday it was confident of the safety of two flu vaccines produced at its Italian site and had witnessed no safety concerns to date.

* Novartis posted worse-than-expected third quarter sales on Thursday, dragged down by the loss of a U.S. patent on its top-selling blood pressure drug Diovan and tough comparisons at its Sandoz unit.

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Engineering firm ABB recorded third quarter net income in line with analysts’ expectations and said its long-term prospects were favourable, due to growing demand for energy efficiency and urbanisation in emerging markets.

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* Barry Callebaut appoints Peter Boone as new Chief Innovation Officer

* Logitech said second-quarter sales were down 4 percent compared to the same quarter in the prior year, and consequently now anticipates sales and operating income for the second half of the full-year 2013 below that of the second half of the prior fiscal year.

* ADB Group reports a mid-period business update.

* Myriad Group said Simon Wilkinson has resigned from the Board of Directors, with immediate effect.


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