May 5, 2014 / 4:55 AM / 4 years ago

Swiss stocks - Factors to watch on May 5

ZURICH, May 5 (Reuters) - Swiss stocks were seen opening lower on Monday, tracking Asian shares, which slipped after Chinese manufacturing data disappointed.

The Swiss blue-chip SMI was seen opening nearly 0.2 percent lower at 8,430 points, according to premarket indications from bank Julius Baer.

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


U.S. authorities are ratcheting up pressure on Credit Suisse to plead guilty to helping wealthy Americans hide untaxed money in Swiss bank accounts, Swiss newspaper NZZ am Sonntag said.

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Swiss drugmaker Novartis said a final-stage trial of its Signifor LAR therapy allowed for greater disease control in patients with the endocrine disorder acromegaly than existing therapies.

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* PubliGroupe said it was selling its minority participation of 25.07 percent in FPH Freie Presse Holding AG to the Neue Zuercher Zeitung media group.

* Cytos said it had agreed with creditors to reduce liabilities and provisions by 5 million Swiss francs, cut its staff by 24 employees and its board of directors to four members.

* Kudelski Group said it sold its Swiss-based NagraID affiliate that makes embedded card-based products to a group of investors including NagraID’s management team for an undisclosed sum.

* Kuehne + Nagel could spend more than one billion Swiss francs on an acquisition if an attractive target appeared, Chairman Karl Gernandt said in an interview with Swiss newspaper Finanz und Wirtschaft.


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