February 13, 2013 / 5:45 AM / in 5 years

Swiss stocks - Factors to watch on Feb 13

ZURICH, Feb 13 (Reuters) - Swiss stocks were expected to creep higher at the open on Wednesday, with other European bourses seen mixed at the open as investors focus on corporate results due from sector heavyweights including oil major Total .

The Swiss blue chip SMI was seen 0.1 percent higher at 7,436 points, premarket indicators from bank Julius Baer showed

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


* Former UBS investment bank CEO Carsten Kengeter, who was tasked with winding down the Swiss bank’s non-core portfolio, is set to leave the bank, according to an internal memo seen by Reuters and confirmed by a spokesman for the bank.

Kengeter, who will assist in a short transition period, will be succeeded by Sam Molinaro, a former Bear Stearns executive, who will take charge with immediate effect and report to group CEO Sergio Ermotti.

* UBS AG has lost a bid to block a securities arbitration by a Minnesota healthcare organization asserting claims arising out of $125 million in auction-rate securities it issued in 2007.

* The co-head of UBS’s financial institutions group (FIG) in Europe, Edouard de Vitry, is leaving the bank in the latest high level restructuring in its investment bank division, three people with knowledge of the situation said on Tuesday.

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A new drug from Novartis for myelofibrosis, a rare blood cancer, is not worth using on the state health service, Britain’s healthcare cost watchdog said on Wednesday.

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* Novartis Institutes for Biomedical Research has extended its research collaboration with GenVec through January 13, 2014.


* Swiss producer/import price data due at 0815 GMT

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