December 30, 2019 / 5:49 AM / 23 days ago

Swiss stocks - Factors to watch on December 30

BERLIN/ZURICH, Dec 30 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1% lower at 10,720 points on Monday, according to premarket indications by bank Julius Baer .

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

UBS

The largest Swiss bank is seeking to increase the credit quota within its wealth management business to about 15% from 7%, SonntagsZeitung reported over the weekend, citing unnamed sources within the bank, a move that could boost lending to its wealthiest customers by around 200 billion Swiss francs ($205.17 billion).

CREDIT SUISSE

Switzerland’s financial markets supervisor FINMA is scrutinizing whether a law firm hired to examine the bank’s surveillance of employees asked “tough-enough questions”, the newspaper NZZ am Sonntag reported, citing a source within the supervisory community, adding that central to the FINMA probe is what and when CEO Tidjane Thiam and Chairman Urs Rohner knew about the spying.

CEMBRA MONEY BANK

The Swiss consumer lending group said it contacted market supervisor FINMA over concerns regarding whether its employees inappropriately filled out forms on behalf of customers, the website Inside Paradeplatz reported, citing the company. A Cembra spokeswoman could not be immediately reached for comment.

ECONOMY

KOF business climate index for December due at 0800 GMT. Index seen rising to 94.5 points. (Reporting by Zurich newsroom and Berlin Speed Desk)

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