November 29, 2018 / 5:55 AM / 18 days ago

Swiss stocks - Factors to watch on Nov. 29

ZURICH/BERLIN, Nov 29 (Reuters) - The Swiss blue-chip SMI was seen opening 0.7 percent higher at 8,958 points on Thursday, according to premarket indications by bank Julius Baer .

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

SWISS LIFE

The Swiss life insurer said it wanted to increase its dividend payout ratio to 50-60 percent in the next three years and announced a share buyback programme of 1 billion Swiss francs ($1.01 billion) over the next thirteen months.

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ROCHE

Celltrion’s Truxima became the first biosimilar to Roche’s $7-billion-per-year cancer drug Rituxan to be approved in the United States to treat non-Hodgkin’s lymphoma.

COMPANY STATEMENTS

* Aevis Victoria: 9M net revenues (medical fees excluded) amounted to 411.3 million francs.

* Clariant announced the expansion of the capacity of its ethylene oxide unit in Gendorf, Germany.

* Cosmo Pharmaceuticals: launch of offering of senior unsecured convertible bonds due 2023.

* Kuros said it will seek approval from shareholders at Thursday’s general meeting for an increase of the ordinary share capital of up to 4.3 million Swiss francs through the issuance of up to an additional 4.3 million shares and to establish a conditional capital of 1.7 million francs for the issuance of up to 1.7 million shares.

* Nestle: Aimmune Therapeutics, a biopharmaceutical company developing treatments against food allergies, announced the closing of the $98 million equity investment by Nestle Health Science.

* Novartis said the European Commission approved Gilenya (fingolimod) for the treatment of children and adolescents 10 to 17 years old with relapsing-remitting forms of multiple sclerosis (RRMS).

* Zur Rose: Bookrunner says price guidance 90-95 francs per share, books covered throughout.

ECONOMY

* Switzerland’s gross domestic product fell by 0.2 percent in the third quarter. It increased by 2.4 percent year-on-year, the SECO said in a statement.

$1 = 0.9919 Swiss francs Reporting by Zurich newsroom and Berlin Speed Desk

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