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Swiss stocks - Factors to watch on July 2
July 2, 2014 / 5:20 AM / 3 years ago

Swiss stocks - Factors to watch on July 2

ZURICH, July 2 (Reuters) - Swiss stocks were expected to open flat on Wednesday, consolidating after resilient economic data sparked good gains in the previous session and helped to spur U.S. stocks to all-time highs.

The Swiss blue-chip SMI was seen opening almost unchanged at 8608 points, according to premarket indications by bank Julius Baer.

The following are some of the main factors expected to affect Swiss stocks on Wednesday:

ROCHE

Roche Holding AG said it will pay up to $1.725 billion to buy San Diego-based Seragon Pharmaceuticals, a privately-held biotech company that researches breast cancer treatments.

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COMPANY STATEMENTS

* Schindler said it will write down another 40 million Swiss francs ($45.06 million) on its stake in Hyundai Elevator Co. against second-quarter earnings, following writedowns in 219 million francs last year, and that it may need to write down the stake further should the firm’s shares fall again.

* SGS said it will buy Courtray Consulting SARL, a which provides performance testing, validation and expertise services in the hygiene disposable industry and generated 1.8 million euros ($2.46 million) in revenue last year.

* Valora said head of its services unit Alexander Theobald will leave the company when the closing of this division’s sale has been completed and assume management responsibility for Ringier AG’s newly formed Operations & Business Development unit from September 1.

* Kaba said it will split its access and data systems into two separate units for Europe and Asia Pacific, and hire Jim-Heng Lee to take over management of the Asian arm.

* Baloise said Standard & Poor’s has increased its rating to “A” with a stable outlook.

ECONOMY

$1 = 0.8877 Swiss Francs $1 = 0.7331 Euros

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