October 11, 2016 / 5:43 AM / 2 years ago

Swiss stocks - Factors to watch on Oct 11

ZURICH, Oct 11 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 8162 points on Tuesday, according to premarket indications by bank Julius Baer .

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

Falcon Bank

Switzerland's financial watchdog FINMA has sanctioned Falcon Private Bank Ltd after it "seriously breached" money-laundering regulations over its handling of funds linked to scandal-hit Malaysian state investment fund 1MDB, FINMA said.

The Monetary Authority of Singapore (MAS) has asked Falcon Private Bank to cease operations in the city state over lapses related to handling fund flows with scandal-hit Malaysian sovereign fund 1MDB.

It also imposed financial penalties on DBS Bank and the Singapore branch of UBS AG for breaches of anti-money laundering requirements.


The bank said it was launching a new digital platform to provide online advice for wealth management clients in Britain.

It also signed a partnership with Brazilian real estate consultancy Real Estate Capital (REC) to tap growing demand by institutional investors for opportunities in Brazil's property market.

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The U.S. Food and Drug Administration has granted priority review for Roche drug Lucentis for treating myopic choroidal neovascularization (mCNV), the Swiss drugmaker said.

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The company has appointed former Allergan AGN.N executive Paul Navarre to take over as chief executive of its skin health business.

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* Addex Therapeutics said it was initiating a new study with US National Institute of Drug Abuse with ADX88178 in non-human primate model of cocaine addiction.

* Sulzer said the Swiss Takeover Board has decided its refinancing does not trigger an obligation to submit an offer of a group of companies.

* Sonova said it has appointed Christophe Fond to the position of Group Vice President Retail, effective February 1, 2017.


The Swiss government announced a top up for its 0 percent 2029 bond issue.

Reporting by Zurich newsroom

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