March 11, 2014 / 5:40 AM / 4 years ago

Swiss stocks - Factors to watch on March 11

ZURICH, March 11 (Reuters) - Swiss stocks were expected to open slightly higher on Tuesday in line with other European markets, although any gains were seen as limited given ongoing tensions in Ukraine as well as worries over the pace of growth in China.

The Swiss blue-chip SMI was seen rising 0.2 percent to 8,383 points, according to premarket indications by bank Julius Baer.

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


Zurich Insurance Group will cut about 800 jobs globally to save around $250 million per year by the end of 2015 as it streamlines its organisation in line with strategic priorities set out last year.

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Syngenta AG said on Monday it had halted commercial sales in Canada of corn seed containing a new and controversial genetically modified trait because major importers had not approved the product.

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The world’s biggest watch group Swatch Group SA has sued Target Corp, accusing the second-largest U.S. discount retailer of illegally selling watches that copy its own.

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Swiss sanitary equipment maker Geberit named Christian Buhl as its new chief executive on Tuesday as it published fourth-quarter net profit that met expectations.

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Chocolate maker Lindt & Spruengli expects sales to grow 6-8 percent this year, helped by geographical expansion, after net profit jumped almost 24 percent in 2013 thanks to a strong increase in sales.

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* Swatch Group said ADVA Optical Networking SE had acquired all shares of Oscilloquartz Ltd, a manufacturer of precise frequency sources and synchronization systems based in Neuchâtel with 70 employees. Terms of the transaction were not disclosed.

* Givaudan has signed a joint venture with Zhejiang Xinhua Chemical Co., to produce fragrance ingredients in China as it seeks to move its production closer to customers in developing markets.

* DKSH said net sales grew 8.5 percent in 2013 to 9.56 billion francs while profit after tax rose 16.6 percent to 214 million. It plans to raise it dividend to 0.95 francs per share.

* Galenica said net profit rose 21.1 percent to 334.8 million francs. It proposed an increase in its dividend of 27.3 percent to 14.00 francs per share.

* Tecan said its net profit increased by 7.8 percent to 45.7 million Swiss francs in 2013 and it expects sales to grow at least in the mid single-digit percentage range in local currencies this year.

* AEVIS Holding said sales rose 30.2 percent to 448.4 million in 2013, mainly due to the acquisition of 3 clinics in 2013 by its subsidiary Genolier Swiss Medical Network.


* The Swiss Federal Treasury said on Tuesday it was auctioning a 2 percent bond maturing in 2022 and a 2.25 percent one maturing in 2031 in a tender.

* Industrial orders data due at 0815 GMT.

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