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Swiss stocks - Factors to watch on August 18
August 18, 2014 / 4:46 AM / 3 years ago

Swiss stocks - Factors to watch on August 18

ZURICH, Aug 18 (Reuters) - Swiss stocks were expected to open higher on Monday, reversing the previous session’s losses, helped by easing worries over geopolitical risks from Ukraine and Iraq.

The Swiss blue-chip SMI was seen opening up 0.9 percent at 8,443 points, according to premarket indications by bank Julius Baer.

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

CREDIT SUISSE

Credit Suisse helped put together billions of dollars in securities that were issued by offshore investment vehicles of Banco Espirito Santo SA and then sold to the Portuguese bank’s retail customers, the Wall Street Journal reported on Sunday.

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ROCHE

Chugai Pharmaceutical Co Ltd shares rose 21 percent to a record high following a media report that Roche Holding AG is in talks to buy the almost 40 percent stake in the Japanese firm that it doesn’t already own for about $10 billion.

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COMPANY STATEMENTS

* SGS said it has been awarded laboratory status in China, the only European based testing, inspection and certification player approved by the Chinese government to offer all of the relevant China Compulsory Certification testing services in China.

* Logitech said it has been granted to extension until October 15 to file securities documents to Nasdaq, which requested an update to the computer firm’s original plan related to the delay in filing earnings.

* Basilea said it has appointed David Veitch as Chief Commercial Officer from September 1, responsible for the firm’s commercial operations including sales, marketing, pricing and market access, reporting to CEO Ronald Scott.

* Swisslog said it has been awarded a major order for a new distribution center in Sweden by the Varner Group, a Scandinavian fashion retailer of strong fashion brands, worth approximately 55 million Swiss francs (60.92 million US dollar).

* BKW said electricity prices will increase slightly from January 1 due to a significant increase in the statutory charges introduced to promote renewable energies.

ECONOMY

Weekly SNB sight deposits at 0700 GMT

1 US dollar = 0.9028 Swiss franc

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