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Swiss stocks - Factors to watch on June 2
June 2, 2014 / 4:50 AM / 4 years ago

Swiss stocks - Factors to watch on June 2

ZURICH, June 2 (Reuters) - Swiss stocks were expected to open higher on Monday, in line with European markets seen recouping the previous session’s losses after Asian shares received a boost from encouraging data out of China.

The Swiss blue-chip SMI was seen rising 0.3 percent to 8,698 points, according to premarket indications by bank Julius Baer.

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


Twelve major banks, including UBS and Credit Suisse, asked a U.S. judge to throw out a consolidated antitrust lawsuit accusing them of colluding to rig prices in the foreign exchange market, saying the plaintiff investors had failed to properly allege the existence of a conspiracy.

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* Swiss drugmaker Roche said it was buying privately held Genia Technologies, which is developing a DNA sequencing platform, for up to $350 million including milestone payments.

* Roche’s experimental drug that spurs the immune system to fight cancer shrank tumours in 43 percent of people with a specific type of metastatic bladder cancer, according to results of an early-stage trial published on Saturday.

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An experimental drug from Novartis markedly shrank tumours in patients with advanced basal cell carcinoma, the most common form of skin cancer, results of a mid-stage study published on Sunday found.

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* Roche presented interim results of a Phase Ib study that showed its experimental drug GDC-0199/ABT-199 showed encouraging activity when combined with rituximab in patients with relapsed/refractory chronic lymphocytic leukemia. It also presented data on its anti-CD79b antibody drug conjugate, polatuzumab vedotin.

* Novartis has appointed Bruno Strigini, as President of Novartis Oncology, effective June 1, 2014.

* Leonteq AG said it has been granted a capital markets license by the Monetary Authority of Singapore.

* Lonza said Sven Abend will join Lonza and serve on the Executive Committee with primary responsibility for Corporate Strategy and Business Development.

* Basilea said its oncology drug candidate BAL101553 showed first evidence of antitumor activity in phase 1 study.

* SGS said it was acquiring Advanced Testing & Engineering Inc. and Commercial Aging Services LLC. to strengthen and diversify its automotive services in the North American market.


* The Swiss National Bank is unwavering in its stance of defending its currency cap against the euro, the bank’s chairman Thomas Jordan said, suggesting that any further monetary easing by the European Central Bank would not force it to alter the policy

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* PMI data for May at 0730 GMT

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