October 14, 2019 / 5:39 AM / a month ago

Swiss stocks - Factors to watch on Oct. 14

ZURICH/BERLIN, Oct 14 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 10,008 points on Monday, according to premarket indications by bank Julius Baer .

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

SUNRISE

Liberty Global LBTYA.O has offered to buy up to 500 million Swiss francs ($502.11 million) in newly created Sunrise Communications shares SRCG.S - a move aimed at rescuing the 6.3 billion franc sale of its Swiss business.

Seperately, proxy adviser Glass Lewis recommended supporting a rights issue that will allow Sunrise Communications to finance a 6.3 billion Swiss franc ($6.35 billion) purchase of cable operator UPC from Liberty Global. “We believe shareholders may reasonably support the transaction,” Glass Lewis said in a proxy paper dated Oct. 11.

“Though we are cognizant of several risks and the initial negative share price reaction, we find the proposed acquisition both strategically and financially compelling, structured in a reasonable manner from a valuation and risk/reward standpoint for existing Sunrise shareholders.”

CREDIT SUISSE

Credit Suisse is considering setting up a 30-people-strong advisory unit in Miami, Florida, targeting a total of $15 billion in customer deposits, SonntagsZeitung said. The bank sold its U.S. private banking activities to U.S. bank Wells Fargo in 2015.

COMPANY STATEMENTS

* Molecular Partners and Allergan presented late-breaking data from phase 3 studies of Investigational Abicipar pegol in neovascular wet age-related macular degeneration.

* Roche said a phase 3 study showed Roche’s Mabthera/Rituxan was superior to Mycophenolate Mofetil in patients with Pemphigus Vulgaris.

* Peach Property said anchor shareholder Kreissparkasse Biberach increased its stake to 10.9% from 7.7% by means of a capital increase.

* Crealogix announced issuing a convertible bond in the minimum amount of CHF 20 million ($20.08 million) with possibility to increase the total amount up to CHF 25 million.

ECONOMY

No major economic data scheduled. ($1 = 0.9960 Swiss francs) (Reporting by Zurich newsroom and Berlin Speed Desk)

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