July 10, 2019 / 4:43 AM / 14 days ago

Swiss stocks - Factors to watch on July 10

ZURICH/BERLIN, July 10 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 9,971 points on Wednesday, according to premarket indications by bank Julius Baer.

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

GAM

The embattled Swiss financial company said expects assets under management to have stabilised as the end of the first half, it said on Wednesday, reiterating it would finish liquidating its absolute return (ARBF) funds by the middle of July.

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ABB

The engineering company is pressing ahead with a review of its underperforming businesses and expects a customer slowdown and China-U.S. trade tensions to mean a turbulent year, its Chairman and interim Chief Executive Peter Voser told Reuters.

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NOVARTIS

The drugmaker said on Tuesday it would make its generic pre-filled epinephrine shots immediately available in local pharmacies across the United States, as a shortage of Mylan NV’s EpiPen emergency allergy shot drags on due to manufacturing problems.

Separately, U.S. biotech company Mirati Therapeutics said it reached a clinical collaboration agreement with Novartis to evaluate a specific combination of cancer treatments.

ZURICH INSURANCE GROUP

Zurich named Alison Martin as chief executive officer Europe, Middle East & Africa and Bank Distribution with immediate effect. “Ms. Martin will continue to oversee the Group Risk Management function for a limited period of time until a suitable successor has been found,” it said in a statement on Tuesday.

COMPANY STATEMENTS

* Baloise Holding said it expected to report a significant year-on-year increase in profit for the first half of 2019.

* Burckhardt Compression Holding AG: exercises call option to acquire majority interest in Arkos Field Services in the U.S.

* Interroll Holding reported a sales increase of 8.4% in the second half of the year, but said order intake fell by 7.9% in the same period.

* DKSH Holding said it is extending its partnership with Bayer Consumer Health in Cambodia.

Reporting by Zurich newsroom and Berlin Speed Desk

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