July 8, 2013 / 4:46 AM / 4 years ago

Swiss stocks - Factors to watch on July 8

ZURICH, July 8 (Reuters) - Swiss stocks were expected to open higher on Monday, mirroring other European markets, with hopes Greece will reach a deal with its lenders over its latest aid payment lifting sentiment.

The Swiss blue-chip SMI was seen rising 0.5 percent to 7,818 points, according to premarket indications from bank Julius Baer.

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


Reinsurance specialist Swiss Re said on Monday it estimates it made losses of approximately $300 million from widespread flooding in central and eastern Europe.

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Results of a late-stage study showed Novartis’ drug secukinumab was more effective clearing skin in patients with moderate-to-severe plaque type psoriasis than Amgen’s Enbrel, the Swiss drugmaker said on Monday.

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Swatch Group might be able to achieve sales of 9 billion Swiss francs ($9.36 billion) this year, Chief Executive Nick Hayek was quoted as saying on Sunday, adding the important Chinese market recovered in June.

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Tages-Anzeiger newspaper reports Voegele board has decided to sell the German, Belgian, Dutch and eastern European business and keep only the profitable Swiss and Austrian businesses; story cites spokesman as saying board only decided to withdraw from Poland and Czech Republic and declines to comment on sale plans

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* Credit Suisse said Urs Zulauf will join the bank on Feb. 1, 2014 and become responsible for client tax policy.

* Novartis said it has entered into a development and licensing agreement with Biological E Limited, a biopharmaceutical company based in India, for two vaccines to protect against typhoid and paratyphoid fevers.

* Zehnder Group said sales fell 3 percent in the first half of 2013 hit by cold weather which delayed construction projects as well as adverse market conditions.

* LifeWatch AG said Kenneth Melani has been elected as new Chairman of the Board of Directors, Yacov Geva will continue to act as a Corporate Chief Executive Officer.

* Clariant said it has received the relevant merger clearances for the establishment of a 50-50 joint venture called “the global amines company” with Wilmar International Limited.

* The specialty chemicals maker also said it will open a new centre of excellence lab in Malaysia


* The Swiss unemployment rate fell to a non-seasonally adjusted 2.9 percent in June from 3.0 percent in the previous month, the State Secretariat for Economic Affairs said on Monday.

* Swiss industrial orders due at 0715 GMT

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