May 10, 2019 / 4:58 AM / 2 months ago

Swiss stocks - Factors to watch on May 10

ZURICH/BERLIN, May 10 (Reuters) - The Swiss blue-chip SMI was seen opening 0.5 percent higher at 9,473 points on Friday, according to premarket indications by bank Julius Baer .

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

CREDIT SUISSE

A Geneva court ordered the Zurich-based bank to pay a former employee 4 million Swiss francs ($3.94 million) and to cover his costs of defending himself against charges in the United States, the Neue Zuercher Zeitung reported, in a case involving Credit Suisse's business with U.S. clients seeking to avoid paying taxes on undeclared assets. Credit Suisse said the verdict was unfounded and plans to appeal.

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EFG International

Latin America's largest investment bank Banco BTG Pactual SA may spinoff its 29 percent stake in the Swiss private bank EFG International, the chief financial officer told analysts on Thursday.

LAFARGEHOLCIM

LafargeHolcim has agreed to sell its operations in the Philippines in a deal which values the business at $2.15 billion, the world's largest cement maker said on Thursday, as it presses ahead with selling off operations in fringe markets[nL5N22L8GV}

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ABB

The company's India unit has received the approval of minority shareholders to pay 4 percent of its annual turnover to its Zurich-based parent company, a media report said on Friday.

UBS

Switzerland's biggest lender is part of a group totalling seven banks that are set to be fined by EU cartel regulators in the coming weeks for rigging foreign exchange markets, sources told Reuters late on Thursday.

COMPANY STATEMENTS

* Novartis released a study that shows patients with relapsing remitting multiple sclerosis (RRMS) taking its Gilenya had significantly fewer relapses than those taking Copaxone

* Adecco Group said it placed 300 million euros in 10-year notes

* Interroll said it was investing $11 million in its Atlanta production site.

* Comet Holding said Beat Malacarne will take over as interim Chief Financial Officer.

* Leclanche on Thursday said that a resolution to reduce the nominal value of its shares to 0.10 Swiss francs from 1.50 francs was not approved by shareholders.

ANALYSTS' VIEWS

Alcon - Baird starts with "outperform" rating.

ECONOMY

No major economic data scheduled.

$1 = 1.0147 Swiss francs Reporting by Zurich newsroom and Berlin Speed Desk

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