November 30, 2016 / 6:40 AM / a year ago

Swiss stocks - Factors to watch on Nov. 30

ZURICH, Nov 30 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 7,838 points on Wednesday, according to premarket indications by bank Julius Baer .

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


U.S. healthcare company Johnson & Johnson has raised its offer for Actelion, a source told Reuters on Tuesday, stepping up pressure on the Swiss biotech firm to accept a takeover deal.


Switzerland’s largest cantonal bank on Wednesday said it would be closing a total of 14 sites--8 of its own retail locations and 6 operated by partners--over the next two years due to a decline in over-the-counter business. Over-the-counter transactions had declined nearly 40 percent over the past five years, ZKB said, with around 90 percent of cash transactions currently occurring via ATMs. Affected employees would all receive other internal offers.


Hans Ziegler will be resigning with immediate effect from the board of directors of both Oerlikon and Schmolz & Bickenbach, both companies said, due to ongoing investigations related to his person. Both companies are controlled by billionaire Viktor Vekselberg’s investment vehicle Renova.


* Oerlikon has acquired citim, a company specialising in 3-D printed metal parts, for an undisclosed price. Citim generated 12 million francs in sales in 2015, Oerlikon said, and profitability in line with Oerlikon’s surface solutions business.

* Eastern Property Holding saw rental income rise to $53.68 million in the first nine months of 2016 compared to $52.81 million through September 2015.

* A municipal assembly agreed to Zug Estate Holding’s modified development plans for its Langweid/Suurstoffi West site. A governing council must now still approve the plans, with authorisation expected in the first half of 2017.


UBS consumption indicator due at 0700 GMT

Economic think-tank KOF due to release leading growth indicator at 0800 GMT

Reporting by Zurich newsroom

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