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Swiss stocks - Factors to watch on June 6
2016年6月6日 / 凌晨4点56分 / 1 年前

Swiss stocks - Factors to watch on June 6

ZURICH, June 6 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent higher at 8,166 points on Monday, according to premarket indications by bank Julius Baer .

The following are some of the main factors expected to affect Swiss stocks:

SWISS POLITICS

Swiss voters rejected by a wide margin on Sunday a proposal to introduce a guaranteed basic income for everyone living in the wealthy country after an uneasy debate about the future of work at a time of increasing automation.

In a separate vote on Sunday, Swiss voters clearly rejected a proposal to require state-controlled companies, such as Swisscom, not to seek to make a profit. Swisscom said it welcomed the ‘no’ vote, which it said would allow it to continue to compete successfully with other telecoms companies.

CREDIT SUISSE

Long-time Credit Suisse Group AG investment banker David DeNunzio is leaving the Swiss bank to become global head of mergers and acquisitions (M&A) at Wells Fargo & Co, according to people familiar with the matter.

British regulators are making inquiries into Credit Suisse’s and Russian bank VTB Group’s handling of hundreds of millions of dollars of debt they arranged for state-backed companies in Mozambique, the Wall Street Journal reported, citing people familiar with the matter.

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ROCHE

A newly approved immunotherapy from Roche Holding proved effective as an initial treatment for some patients with advanced bladder cancer, according to data presented on Sunday.

The Swiss drugmaker also said a phase III study showed its Actemra/RoActemra treatment maintained steroid-free remission in people with Giant Cell Arteritis.

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SWATCH GROUP

Swatch Group has signed a contract with Chinese car maker Geely allowing it to use an innovative battery developed by the watchmaker’s research firm Belenos, its chief executive said in an interview on Sunday.

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COMPANY NEWS

* Lindt & Spruengli said Ernst Tanner will relinquish his role as CEO by the end of 2016 with CFO Dieter Weisskopf his replacement.

* Alpiq said it has sold its interest in Alpiq Versorgungs AG for 312 million Swiss francs to a consortium comprising of EBM Netz AG, Staedtische Betriebe Olten and UBS Clean Energy Infrastructure Switzerland. It will use the proceeds to pay down debt and boost its balance sheet, Alpiq said.

* UBS and Credit Suisse need more capital by 2019 to meet requirements, said Swiss newspaper Schweiz am Sonntag, citing a study by Creditsights.

* Meyer Burger said it had agreed to sell high-end equipment and technologies worth around 22 million Swiss francs to Russian solar company Hevel LLC.

* Elma Group said it expects to close the first half year 2016 with a small negative net income.

* THERAMetrics said it had entered into a share purchase agreement for the sale of its Italian IMP manufacturing and logistics subsidiary Clinical Supply Services to Fin Posillipo S.p.A.

* Cosmo Pharmaceuticals said all primary and secondary clinical endpoints were attained in a phase III pivotal trial of Rifamycin SV MMX.

* Jungfrau said its head of infrastructures Juerg Lauper will retire on May 31, 2017.

ECONOMY

* The Swiss National Bank does not have a target for the franc’s exchange rate and is ready to intervene in the market or lower interest rates further if needed to keep a lid on the currency, its deputy chairman was quoted as saying on Saturday.

* SNB sight deposits data due at 0800 GMT

Reporting by Zurich newsroom

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