September 23, 2019 / 5:03 AM / 24 days ago

Swiss stocks - Factors to watch on September 23

ZURICH/BERLIN, Sept 23 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 10,048 points on Monday, according to premarket indications from bank Julius Baer .

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

CREDIT SUISSE

Former Credit Suisse banker Iqbal Khan, who is in the process of moving to UBS, has filed a criminal complaint after he was followed by private detectives in an automobile, multiple Swiss media reported after an initial report on the website Inside Paradeplatz. Credit Suisse did not immediately comment, while Zurich prosecutors also did not immediately respond to an inquiry from Reuters about people reported to be detained in the matter.

UBS

UBS has no plans to pass on the central bank’s negative interest rates to small savers but will introduce new cost saving measures of 300 million Swiss francs ($303 million)to deal with the market conditions, the Swiss lender’s chief operating officer Sabine Keller-Busse told NZZ am Sonntag.

CLARIANT

Chief Executive Hariolf Kottmann does not plan to pay the 750,000 Swiss franc ($752,861) fine imposed on the speciality chemicals group for breaking publication rules in relation to its failed merger with U.S.-based Huntsman out of his own pocket, SonntagsZeitung said.

The fine was imposed because Kottmann provided Swiss television with information ahead of the announcement of the planned merger, the paper said. Clariant regretted its chief’s “misjudgement”, it quoted a spokesman as saying.

AMS

Private equity firm Advent International is in talks to join Bain Capital in its takeover bid for Germany’s Osram, Bloomberg reported, citing people familiar with the matter, a move that could further fuel the bidding war with AMS for the lighting group.

MEYER BURGER

Bern’s office for the prosecution of economic crimes has opened an investigation against unknown persons on suspicion of unfaithful business management in connection with a controversial stock deal at the solar supplier, Sonntagszeitung said. The investigation was triggered by a criminal complaint filed by shareholder Elysium Capital against the entire board of directors around then president Alexander Vogel, deputy public prosecutor Christof Scheurer told the paper.

Additionally, the company’s board recommended against adding Mark Kerekes of Sentis Capital to its directors, saying it would lead to conflicts of interests. Sentis is the investment vehicle of Russian billionaire Petr Kondrashev, who has been pushing for changes at Meyer Burger.

COMPANIES

* Roche is presenting new data at the European Society for Medical Oncology (ESMO) 2019 Congress starting on Friday, including results from its late-stage study of its immunotherapy Tecentriq as a monotherapy against advanced lung cancer.

* Varia US Properties confirmed its targeted dividend of CHF 2.60 per share for business year 2019.

* BVZ Gruppe said first-half profit at the owner of the Matterhorn Gotthard Bahn and Zermatt’s Gornergrat Bahn rose 41% to 2.1 million francs.

* Kuehne & Nagel said it aims to be carbon dioxide neutral for shipments in its network of transport suppliers by 2020

ECONOMY

Swiss M3 data for August due at around 0700 GMT. ($1 = 0.9907 Swiss francs) (Reporting by Zurich newsroom and Berlin Speed Desk)

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