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Swiss stocks - Factors to watch on Feb 7
February 7, 2014 / 5:46 AM / 4 years ago

Swiss stocks - Factors to watch on Feb 7

ZURICH, Feb 7 (Reuters) - Swiss stocks were expected to inch up at the open on Friday, in line with other European bourses, as investors anticipate encouraging economic data from the United States.

The Swiss blue-chip SMI was seen rising 0.2 percent to 8,236 points, according to premarket indications by bank Julius Baer.

The following are some of the main factors expected to affect Swiss stocks on Friday.

ABB

Swiss industrial conglomerate ABB Ltd is seeking to divest several units whose sale could raise more than $1 billion in total proceeds, according to people familiar with the matter, joining a list of large companies looking to shed non-core businesses.

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COMPANY STATEMENTS

* Vontobel posted a net profit of 122.3 million Swiss francs for the 2013 financial year and said net inflow of new money had risen to a record of 9.1 billion Swiss francs. It plans to pay a dividend of 1.30 Sfr per share, up 8 percent.

* LLB Group posted net profit of 54 million francs for 2013. It said it had an outflow of money of 2.2. billion francs, hit by the closure of LLB Switzerland and the sale of its Lugano branch.

* Zuercher Kantonal Bank said net profit rose 7.2 percent to 797 million francs last year.

* EMS Group said net sales rose by 7.4 percent to 1.885 billion francs last year boosted by strong growth in Asia. Net operating profit was up 15.4 percent compared to the previous year at 369 million francs.

* Actelion received approval for Opsumit in Australia.

* SGS said it has successfully issued a ten year CHF 250 million straight bond with a coupon of 1.75 per cent. It plans to use the net proceeds for general corporate purposes.

ECONOMY

The Swiss National Bank is ready to explore alternative methods to cool Switzerland’s overheating property market if current macroprudential measures don’t do the job, its vice-chairman said on Thursday.

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* Swiss retail sales for December due at 0815 GMT

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