ZURICH, Nov 22 (Reuters) - Swiss stocks are set to edge higher on Thursday, with equities across Europe buoyed by data showing China’s manufacturing sector expanded for the first time in 13 months.
However, volume in Switzerland is expected to remain thin due to the U.S. market’s closing for the Thanksgiving holiday.
The Swiss blue-chip SMI was set to open 0.2 points higher at 6654 according to premarket indications by bank Julius Baer, while the SMI future was 0.3 percent higher at 6662 points.
The following are some of the main factors expected to affect Swiss stocks on Thursday:
Actelion has submitted heart and lung drug macitentan to European health regulators, the second major step for the drug the Swiss group is positioning as a viable successor to its current top seller.
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Swiss banks have not seen foreign clients switching their funds as the banks come under pressure from other countries to help hunt down tax evaders, Claude-Alain Margelisch, chief executive of the Swiss Bankers Association, said on Wednesday.
FINMA published its new strategic goals through 2015, with the prudential supervision of financial institutions at the heart of the Swiss financial supervisor’s strategy.
* The Swiss National Bank still sees the 1.20 cap on the Swiss franc against the euro as “absolutely necessary” and won’t rule out further measures to protect the Swiss economy, president Thomas Jordan said in a newspaper interview on Thursday.
* The Swiss National Bank’s 1.20 per euro cap imposed on the Swiss franc more than a year ago is an “extreme” measure and not a cure-all for the economy, SNB board member Fritz Zurbruegg said in a speech on Wednesday.
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* Autoneum Holding Ltd issues 125 million Sfr bond.
* Carlo Gavazzi said first-half net income 5.8 million Swiss francs, underpinned by solid growth outside Europe.
* Basilea said it initiated the next planned pharmacokinetic phase 1 healthy volunteer study in its clinical development program for BAL30072, a new investigational antibiotic with activity against drug-resistant bacteria.