April 16, 2018 / 4:40 AM / 8 months ago

Swiss stocks - Factors to watch on April 16

ZURICH, April 16(Reuters) - Here are some of the main factors that may affect Swiss stocks on Monday.

ADECCO GROUP

The Swiss staffing group is buying U.S.-based technology education firm General Assembly in a deal with an enterprise value of $412.5 million, adding in a statement on Monday that heavy investments in the business will drag on earnings this year before it starts modestly adding to profits come 2019.

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SULZER

The Swiss pump-maker, which was last week freed from U.S. sanctions related to its Russian investor Viktor Vekselberg, said its business was “fully back to normal” after it received a second licence fully unblocking its assets.

The company said on Monday the purchase price for five million shares that Sulzer is buying from Vekselberg to reduce his stake below 50 percent was 109.13 per share. It said the unblocking of its assets is now completed.

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COMPANY STATEMENTS

* Novartis said a new analysis demonstrated its heart failure drug Entresto helped preserve kidney function in patients with chronic heart failure, especially those with diabetes.

* Credit Suisse: Swiss proxy advisors Ethos and zRating have advised Credit Suisse shareholders to reject the Swiss bank’s compensation proposals at its upcoming annual general meeting, Swiss newspaper Finanz und Wirtschaft reported.

* Roche said it received FDA clearance for a molecular test for sexually transmitted infections on a fully automated, high throughput platform.

* Alpiq will restructure its corporate functions and cut jobs following its deal to sell its engineering services business to France’s Bouyges, Swiss newspaper Sonntagszeitung reported on Sunday.

* Orascom said it had increased its free float in its Egyptian subsidiary through the sale of shares to strategic investors, with the proceeds to be used to expand in Oman and Montenegro.

* Wisekey said its first-quarter revenue doubled to $14 million.

* Romande Energie said 2017 net profit rose 6.1 percent to 121 million Swiss francs.

ECONOMY

* An exit from the Swiss National Bank’s ultra-loose monetary policy remains off the agenda despite the Swiss franc weakening to its lowest level in more than three years, chairman Thomas Jordan said in an interview published on Saturday.

* The Trump administration again refrained from naming any major trading partners as currency manipulators as it pursues potential tariffs and negotiations to try to cut a massive trade deficit with China. Switzerland however remained on the watch list.

* Swiss producer and import price data is due to be released by the Federal Statistics Office at 0715 GMT.

* The Swiss National Bank is due to publish details of sight deposits at 0800 GMT.

Reporting by Zurich newsroom

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