August 31, 2018 / 4:43 AM / 22 days ago

Swiss stocks - Factors to watch on Aug 31

ZURICH, Aug 31 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent lower at 9,017 points on Friday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks:

UBS, CREDIT SUISSE

The Federal Reserve said Credit Suisse Group, UBS and three other banks would get additional year to submit “living wills” detailing how they could be safely dissolved in a crisis. The banks would now be required to submit those resolution plans by July 1, 2020.

TRADE

U.S. President Donald Trump threatened in an interview with Bloomberg News to withdraw from the World Trade Organization if “they don’t shape up,” in his latest criticism of the institution.

COMPANY STATEMENTS

* Sonova Holding AG: to launch new share buyback program worth up to CHF 1.5 billion

* IVF Hartmann Holding AG: H1 revenues fell by CHF 0.4 million to CHF 66.0 million; EBIT CHF 7.4 million (-16.5%) and net profit CHF 6.1 million (-17.8%)

* Zug Estates Holding AG: H1 property income grew by 12.6% year-on-year to CHF 23.4 million; operating income increased from CHF 19.6 million to CHF 21.7 million (+10.6%)

* Compagnie Financiere Tradition SA: H1 growth of adjusted revenue by 11.3% in constant currencies to CHF 502.7m; consolidated net profit was CHF 33.9m compared with 28.6m in the first half of 2017

* Plazza Immobilien AG: H1 EBITDA at CHF 15.2 million versus 10.2 million year ago

* PSP Swiss Property AG: sells project “Bahnhofareal” in Rheinfelden; buyer accepts the around 8’300 m2 property with two existing buildings for CHF 16.7 million

* Schindler said it named Petra A. Winkler as group general counsel with effect from April 1, 2019. Karl Hofstetter had been the elevator maker’s general counsel since 1993 before retiring in May.

* Starrag Group said Norbert Hennes, head of the business unit Aerospace & Energy, would step down at the end of September

* Valiant Holding AG: Ewald Burgener becomes the new CEO of Valiant Bank AG

* Swiss Life has completed its acquisition of German corporate real estate investment manager BEOS with effect from 30 August 2018, having obtained the requisite authorisation from the relevant competition authority.

Reporting by Zurich newsroom

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