ZURICH, April 10 (Reuters) - The Swiss blue-chip SMI was seen opening 0.5 percent higher at 8,728 points on Tuesday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
The fragrance and flavour maker reported a weaker-than-expected sales increase during its first quarter despite a boost from new contract wins and acquisitions. Sales rose 5.4 percent to 1.308 billion Swiss francs ($1.37 billion) for the three months to the end of March, short of the average analyst expectation of 1.335 billion Swiss francs in a Reuters poll.
Shares indicated down 1 percent
For more news see
The bank has suspended research data feeds to data provider Bloomberg and other third-party platforms which are unable to ensure the data is only seen by the Swiss bank’s clients, a UBS memo to staff seen by Reuters showed.
Swiss financial watchdog FINMA is investigating private bank Julius Baer over possible due diligence shortfalls linked to accounts held by officials from soccer body FIFA and Venezuelan energy group PDVSA, the Neue Zuercher Zeitung paper reports. Baer declines comment on the report.
Swatch and Richemont indicated higher after good LVMH results
Italy’s competition watchdog says accepts commitments by Telecom Italia and Fastweb on their fiber optic network joint venture known as flash fiber; antitrust process started in february last year looking into possible market restrictions stemming from flash fiber JV is closed.
French insurer AXA said it would restructure its Swiss arm, in a move that would result in a negative hit to net income of around 400 million Swiss francs in the first half of 2018 but produce better returns in the longer run.
* Zurich Insurance Group AG to launch buyback programme on April 11
* AveXis Inc says merger deal with Novartis includes that under certain specified circumstances, co will be required to pay $284 mln termination fee to Novartis; in case of termination of deal, Novartis will be required to pay to co a “reverse termination fee” equal to $437 mln - SEC filing
* Lastminute.Com NV: launches partial self tender offer for 15.8% of its own shares at CHF 16 per share
* Relief Therapeutics Holding SA - announces an in-licensing agreement with Genclis SA
* Orascom Development Holding AG: through its largest subsidiary in Egypt, Orascom Development Egypt, to enter into a partnership with new urban communities authority (nuca) to develop 1,000 feddan (approx. 4.2 million sqm) in west cairo
* Huegli Holding AG: 2017 revenues at previous year’s level at CHF 384 million; EBITDA in 2017 down slightly by CHF 2.0 million to CHF 40.8 million
Swiss government to top up 2029 bond at monthly tender on Wednesday (Reporting by Zurich newsroom)
Our Standards: The Thomson Reuters Trust Principles.