June 4, 2012 / 4:55 AM / in 7 years

Swiss stocks - Factors to watch on June 4

ZURICH, June 4 (Reuters) - Swiss stocks were set to open lower on Monday, mirroring other European bourses as disappointing global data at the end of last week took a toll on risk appetite.

Futures for the blue chip SSMI index were trading down 33 points at 5,745 by 0625 GMT.

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

ROCHE

* A study of Roche’s experimental “armed antibody” found it extended the length of time breast cancer patients lived without their disease getting worse, marking the second successful pivotal trial in this new class of cancer drugs.

* Colorectal cancer patients treated with a follow-up round of Avastin, sold by Roche, fare better than those given chemotherapy alone after their disease has worsened, according to results of a large clinical trial.

* Adding cancer drug Avastin to standard chemotherapy doubled the length of time a certain group of advanced ovarian cancer patients lived without their disease getting worse, according to results of a clinical trial.

* German drug company Boehringer Ingelheim said on Monday it would test its experimental lung cancer drug directly against AstraZeneca’s Iressa and Roche’s Tarceva pill, after it showed promise in a late-stage drug trial.

For more, click on:

ZURICH INSURANCE GROUP

Europe’s third-largest insurer Generali said it named Mario Greco, a top executive at Zurich Insurance Group as its new CEO on Saturday, after Giovanni Perissinotto was ousted in a rapid boardroom coup.

* Zurich said on Monday Group CEO Martin Senn would head the general insurance segment on an ad interim basis until a permanent replacement for Greco is announced.

For more, click on:

SONOVA

Demand for hearing aids has not been hurt by the euro zone economic crisis, the chief executive of Sonova said in a newspaper interview on Sunday, but the strong Swiss franc has given the company a big headache.

For more, click on:

COMPANY STATEMENTS

* Danish biotech company Genmab said on Monday it had entered into an agreement with Novartis to use its duobody technology platform.

* Implenia has won a new contract worth 19 million Swiss francs to build a shell of Geneva University Hospital’s new ward block.

ECONOMY

* The Swiss National Bank’s franc cap of 1.20 per euro should go sooner rather than later to shield the economy, the former head of bank UBS Oswald Gruebel said, while some Swiss parliamentarians called for capital controls to forestall an influx of safe-have flows from the crisis plagued euro zone.

For more, click on:

* Imposing negative interest rates on Swiss franc offshore holdings would do little to curb the currency’s strength, Switzerland’s economy minister said in a newspaper interview on Saturday.

For more, click on:

* The Swiss government, facing warnings that low interest rates needed to curb the franc’s strength are fuelling a bubble in credit and real estate, announced steps on Friday to slow the boom and protect banks.

For more, click on:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below