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Swiss stocks - Factors to watch on Dec 10
December 10, 2013 / 5:45 AM / 4 years ago

Swiss stocks - Factors to watch on Dec 10

ZURICH, Dec 10 (Reuters) - Swiss stocks were expected to open slightly lower on Tuesday as investors stayed on the sidelines before the Federal Reserve’s meeting next week that could signal the timing of a cut in its stimulus programme.

The Swiss blue-chip index was seen slipping 0.2 percent at the open to 8,044 points, according to premarket indications from bank Julius Baer.

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


Valiant Holding AG and Berner Kantonalbank became the first Swiss banks to say they would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts.

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A top U.S. Federal Reserve official on Monday suggested that farmers consider a path toward internationally accepted standards for genetically modified crops, following rejections of U.S. corn shipments by China which tested positive for Syngenta products.

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Credit Suisse Group has appointed equity analyst Howard Chen to its investment banking department as managing director and global head of financial technology and financial strategies, according to an internal memo to employees.

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* Novartis said its Jakavi treatment improved overall survival of patients with myelofibrosis in four analyses of long-term studies.

* Roche said board member William Burns will not stand for re-election at the drugmaker’s regular shareholder meeting in March.

* Swisscom said it is buying 66.7 percent of DL Groupe GMG, a major provider of Microsoft services and storage solutions, virtualisation and data protection in French-speaking Switzerland, for an undisclosed price.

* Schaffner said full-year net profit rose to 6.28 million Swiss francs ($7.04 million) from 3.91 million francs year-and that it expects high single-digit sales growth in the coming year and another improvement in operating margin.

* Valora said it appointed Tobias Knechtle as its new financial chief replacing Michael Mueller, who takes up his new duties as Chief Executive on March 1.

* Cicor said it will simplify its organizational structure in order to better align with customers’ future needs by reducing the umber of divisions will be reduced from four to two from Jan. 1.


* The Swiss Federal Treasury is auctioning a 1.25 percent bond maturing in 2024 and another 1.25 percent bond maturing in 2037 in a tender

$1 = 0.8918 Swiss francs

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