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Swiss stocks - Factors to watch on Jan 20
January 20, 2014 / 5:55 AM / in 4 years

Swiss stocks - Factors to watch on Jan 20

ZURICH, Jan 20 (Reuters) - Swiss stocks were expected to open little changed on Monday, tracking European shares, as slowing growth in China makes investors more cautious.

The Swiss blue-chip index was forecast to open virtually unchanged at 8,475 points, according to premarket indications by bank Julius Baer.

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


Swiss bank UBS will begin outsourcing its fixed income trading platform to two technology groups in an attempt to save costs, a source told Reuters.

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Swiss drugmaker Novartis said on Friday it was looking into a report that employees of is Japanese unit may have violated clinical trial protocol by handling data from a small independent study of one of its cancer drugs.

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As U.S. consumers are asked to shoulder more prescription drug costs, drugmakers say prices for brand-name medicines will keep rising, mainly because use of their products reduces other healthcare costs.

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A British-born former UBS banker is tipped to lead Switzerland’s financial regulator after the current head’s surprise exit, reported Schweiz am Sonntag, citing undisclosed sources.

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* VZ Group revised its revenue forecasts for 2013 downwards, expecting a 11.7 percent increase, due to stronger demand for mandates with “all-in” fees and a faster increase in costs.

* Tornos said its largest shareholder, Walter Fust, now owns 42.73 percent of the company’s share capital and voting rights following a public takeover offer launched in November. Fust will publish the final result on Tuesday.

* Norinvest said subsidiary Banque Cramer & Cie SA increased its capital to 37 million Swiss francs ($40.69 million) by issuing 15,000 new registered shares with a nominal value of CHF 800 each, all fully subscribed and paid in cash by the parent company, Norinvest. This capital allows Banque Cramer to expand its activities following the acquisition in November of Lausanne-based Banque de Depots et de Gestion.


$1 = 0.9094 Swiss francs

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