May 16, 2014 / 5:02 AM / 4 years ago

Swiss stocks - Factors to watch on May 16

ZURICH, May 16 (Reuters) - Swiss stocks were expected to open little changed on Friday, as losses on Wall Street and worries kept investor sentiment subdued.

The Swiss blue-chip index was seen opening up 0.1 percent at 8,650 points, according to premarket indications by bank Julius Baer.

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


Credit Suisse Group AG is expected to plead guilty and pay more than $2.5 billion to U.S. authorities to resolve charges that the Swiss bank helped Americans evade U.S. taxes, people familiar with the discussions said on Thursday.

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Swiss property redevelopment company HIAG Immobilien priced its initial public offering at 76 Swiss francs per share on Friday, giving the company an implied market value of around 608 million francs ($683 million).

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* Novartis said the U.S. Food and Drug Agency had requested the drugmaker submit further evidence of the efficacy of its heart failure drug RLX030 in order for a decision to be made on whether it should be approved for use in the United States.

* SFS said it overallotment option of 992,420 shares had been fully exercised at the offer price of 64 franc per share.

* Bravofly Rumbo Group said an over-allotment option had been partially exercised at the offer price of CHF 48.00 per share, as part of its Initial Public Offering.

* Inficon Holding said BlackRock Investment Management now hold 5.09 percent of the voting rights in the company.

* Therametrics said it generated revenues of 3 million euros in the first quarter and a core loss of 1.6 million euros.


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