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Swiss stocks - Factors to watch on June 6
June 6, 2013 / 4:46 AM / 4 years ago

Swiss stocks - Factors to watch on June 6

ZURICH, June 6 (Reuters) - Swiss stocks were expected to open lower on Thursday, in line with European markets seen weakening over mounting concerns that the U.S. Federal Reserve may soon taper its economic stimulus programme.

The Swiss blue-chip SMI was seen falling 0.2 percent to 7,733 points, according to premarket indications from bank Julius Baer.

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

UBS

UBS AG’s Wealth Management Americas said on Wednesday it hired a veteran adviser from Louisville, Kentucky-based brokerage Hilliard Lyons who managed $475 million in client assets at the firm.

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COMPANY STATEMENTS

* Santhera said it secured exclusive rights from the National Institutes of Health for a novel approach for the treatment of primary progressive multiple sclerosis.

* Phoenix Mecano Group said its executive committee will be reduced in size from six members to three, namely Benedikt Goldkamp (Chief Executive Officer), Rochus Kobler (Chief Operating Officer) and René Schäffeler (Chief Financial Officer).

* CKW Group posted a net profit of 123.3 million Swiss francs for the first half of its fiscal year 2012/13.

* VP Bank said a new member will join its group executive management and the business segments Banking Liechtenstein & Regional Market and Private Banking International will be merged.

ECONOMY

* Swiss May inflation due at 0715 GMT

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