October 30, 2017 / 5:56 AM / a year ago

Swiss stocks - Factors to watch on Oct 30

ZURICH, Oct 30 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent easier at 9,175 points on Monday, according to premarket indications by bank Julius Baer .

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


The drugmaker said it was buying France’s Advanced Accelerator Applications (AAA) in a $3.9 billion cash deal to strengthen the oncology portfolio at the world’s biggest maker of prescription medicines.

Shares indicated 0.1 percent firmer

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Activist investor White Tale demanded three seats on Clariant’s and an independent strategic review of the Swiss speciality chemicals group after thwarting its plans to merge with U.S. peer Huntsman in a $20 billion deal.

The Swiss chemicals company must pay Huntsman millions if parts of their merger deal, which collapsed last week, are implemented by other parties, according to a Huntsman filing with the SEC.

Shares indicated down 0.4 percent

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Chief Executive Sergio Ermotti reiterates in interview with paper Matin Dimanche that there was no guarantee the bank would remain headquartered in Switzerland. “I was only telling the truth,” he is quoted as saying. “My aim is not to cause trouble but to make clear to the people and the authorities what can happen in the banking sector.” He cites the example of Swedish bank Nordea’s decision to move to Finland to benefit from a more favourable regulatory environment.

Financial Times reports that UBS to move 250 London staff because of Brexit Source link: on.ft.com/2yWSu01


SNB Vice President Fritz Zurbruegg in an interview with a Swiss newspaper defended the central bank’s main tools of taming the strong franc — negative interest and currency intervention — despite concerns that its loose money policy is fueling a real estate bubble.


Chief Executive Frankie Ng tells newspaper Le Temps he does not expect digital disruption to speed consolidation in the inspections segment. “This is not our central scenario. Instead, we anticipate an increase in the number of technology players, including small, highly specialized companies,” he is quoted as saying. He also played down prospects of divesting lower-margin businesses and said SGS’s goal was to increase revenue with existing resources.

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The SonntagsZeitung paper reports bank supervisor FINMA has mandated auditing group Deloitte to review Raiffeisen’s corporate governance as part of an enforcement proceeding. Raiffesin, Switzerland’s third-largest bank, tells the paper management had agreed with the board of directors last year to review central government policy and processes. “It is correct that we are in contact with FINMA on these points. In some points a need to optimise has crystallised.”


* Swiss Life says enters a strategic partnership with the business software provider bexio and simultaneously becomes one of the largest shareholders in the company.


KOF leading indicator at 0800 GMT (Reporting by Zurich newsroom)

0 : 0
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