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Swiss stocks - Factors to watch on Oct 14
October 14, 2016 / 4:36 AM / a year ago

Swiss stocks - Factors to watch on Oct 14

ZURICH, Oct 14 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent higher at 8,018 points on Friday, according to premarket indications by bank Julius Baer .

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


Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a chemicals, fertiliser and oil giant with almost $100 billion annual revenue, three sources familiar with the matter said. The talks come as China National Chemicals Corp, as ChemChina is officially known, finalises a $43 billion takeover of Swiss pesticides and seed group Syngenta.

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The Swiss bank has hired Jason Wortendyke from rival Citigroup Inc as co-head of its global diversified industrials, aerospace and defense investment banking group, according to an internal memo reviewed by Reuters.

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* VAT Group AG said Chief Operating Officer Kurt Trippacher will leave the company effective April 30, 2017. A successor will be announced in due course, VAT said.

* Norges Bank has raised its stake in Lonza to 3.19 percent, according to a disclosure from Swiss stock exchange, SIX. The previous disclosure of its Lonza holdings was 2.58 percent.

* Julius Baer said it has successfully placed S$325 million ($236.62 million) of perpetual non-cumulative high-trigger additional tier 1 securities with private banks and institutional investors.

* Micronas said the SIX Swiss exchange has approved the company’s request to delist its registered shares upon completion of the intended merger with Swiss subsidiary of TDK Corporation. The delisting is likely to take place on Oct. 25, Micronas said.

* Kuehne und Nagel said Belcorp has chosen the company as its preferred provider for intercontinental cargo flows and as its exclusive partner for end-to-end shipment order management.


Swiss producer/import data due at 0715 GMT ($1 = 1.3735 Singapore dollars) (Reporting by Zurich newsroom)

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