July 20, 2011 / 5:05 AM / 8 years ago

Swiss stocks - Factors to watch on July 20

ZURICH, July 20 (Reuters) - Swiss stocks are set to open firmer on Wednesday, in line with other markets in Europe, as investors welcome signs of progress in the U.S. budget-reduction deal.

The Swiss blue-chip index SMI .SSMI was indicated to rise 38 points to 5,934 points at the open, premarket data provided by bank Clariden Leu showed. CLPRE

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

NOVARTIS NOVN.VX

Swiss drugmaker Novartis AG is no longer actively pursuing a purchase of diagnostic test maker Gen-Probe Inc (GPRO.O), the Wall Street Journal said, citing people familiar with the matter.

For related news, click on [NOVN.VX]

CREDIT SUISSE CSGN.VX

UK-based private equity firm 3i Group Plc (III.L) said it hired Paul Su from Credit Suisse as a senior partner for 3i China.

For related news, click on [CSGN.VX]

COMPANY STATEMENTS [CPR-CH]

* Gottex GFMN.S said total assets grew to $8.9 billion and GSS assets reached $2.1 billion in the second quarter. [GFMN.S]

* Swiss lift maker Schindler (SCHN.S) said Olayan Financing Company (OFC) had acquired from them a minority stake of 10 percent in Saudi Elevator Company Ltd. The company will be renamed “Schindler Olayan Elevator Company Ltd.”.[SCHN.S]

* Oridion Systems Ltd. ORIDN.S, welcomed a standard from the American Society of Anesthesiologists (ASA) that requires capnography monitoring for procedures that involve moderate or deep sedation. [ORIDN.S]

* Partners Group (PGHN.S), the global private markets investment manager, co-led the mezzanine debt financing in Swedish medical device manufacturer Atos Medical in the acquisition of the business by EQT VI on behalf of its clients.[PGHN.S]

* Feintool (FTON.S) said sales at the end of the first nine months of the current financial year rose 11.5 percent year-on-year to 270.3 million Swiss francs. The group said the results underlined the positive trend at Feintool despite the substantial influence of exchange rate effects and the consequences of the natural disaster in Japan. [FTON.S]

ECONOMY [M-CH]

FOR COMPANIES TRADING EX-DIVIDEND, PLEASE CLICK ON:

.EX.S for all Swiss stocks

.EXSMI.S for blue chips

.EXNSMI.S for other stocks

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