August 7, 2018 / 4:37 AM / 2 months ago

Swiss stocks - Factors to watch on Aug 7

ZURICH, Aug 7 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent firmer at 9,158 points on Tuesday, according to premarket indications by bank Julius Baer .

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

SWISSQUOTE

The online bank will acquire Luxembourg-based Internaxx Bank SA for 27.7 million euros ($32 million), which will help it gain access to European Union markets.

CREDIT SUISSE

Credit Suisse has named Jawad Haider and George Matsuzaka as co-heads of its insurance investment banking business in the Americas, according to an internal memo seen by Reuters, the contents of which were confirmed by a spokeswoman.

PARTNERS GROUP

Partners Group has hired Tom Stein, head of capital markets at Guggenheim Capital Partners, for its private debt group, according to a company spokesperson.

COMPANY STATEMENTS

* Swiss Competition Commission (Weko) to conduct in-depth review of Tamedia’s planned purchase of Basler Zeitung newspaper, decision due by December

* OC Oerlikon Corporation AG Pfaeffikon: full-year guidance for 2018 continued operations raised

* Galenica AG: H1 consolidated net sales increased by 0.9% to CHF 1,566.1 million; taking into account one-off effects, net profit declined by 2.4% to 56.5 million in H1; sees sales for fy 2018 to be at lower end of sales forecast range of +2% to +3% communicated in March 2018; outlook 2018: expects EBIT (excluding the effects of ias 19) to be at least at the same level as in 2017

* Banque Cantonale de Geneve: H1 growth of 28.8% in its operating profit, which reached a record level of CHF 84.5 million

* Implenia AG: is building two complex real estate projects worth more than CHF 100 million in total

ECONOMY

Monthly data on Swiss National Bank currency reserves due at 0700 GMT (Reporting by Zurich newsroom)

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