October 3, 2019 / 5:25 AM / 5 months ago

Swiss stocks - Factors to watch on Oct. 3

ZURICH, Oct 3 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1% higher at 9,770 points on Thursday, according to premarket indications by bank Julius Baer .

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


The bank will reduce to nine from 15 the size of its executive board as it revamps under new Chief Executive Philipp Rickenbacher. Remy Bersier, now head of emerging markets, will be appointed Chairman Private Banking Key Clients. Gian Rossi, now head of the Switzerland region, will leave the bank at the end of 2019 by mutual agreement, it added in a statement announcing the management changes.


The adhesives maker is targeting acquisitions and other measures to boost sales 6-8% annually through 2023, while also increasing efficiency as it shoots for a raised 15-18% operating profit margin, the company says.


A buyer group seeking to take Swiss utility Alpiq private holds 89.94% of the shares, shy of the level necessary to force a squeezeout of minority shareholders who have criticized the 70 Swiss franc per share tender offer.


* Leclanche published invitation to EGM on Oct. 24, will ask shareholders for their support in creating new shares in order to meet upcoming capital needs


No major data due (Reporting by Zurich newsroom and Berlin Speed Desk)

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