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Swiss stocks - Factors to watch on Nov 23
November 23, 2016 / 6:11 AM / a year ago

Swiss stocks - Factors to watch on Nov 23

ZURICH, Nov 23 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent higher at 7,755 points on Wednesday, according to premarket indications by bank Julius Baer.

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


Generali Schweiz will be relocating 100 jobs from Nyon, Switzerland to Adliswil by end 2017 as part of a plan to streamline its business and create a “slimmer, more focused” organisational structure. As part of the Generali group’s ‘Simpler, Smarter, Faster’ plan the Swiss subsidiary would be investing around 100 million Swiss francs ($98.97 million) over the next four years in order to implement simplified processes more directed to clients.


Ivory Coast has granted cocoa and coffee export licences for the 2016/17 season to 12 additional companies and cooperatives including Nestle a document from the Coffee and Cocoa Council regulator showed on Tuesday.


* Straumann said it has entered into a patnership with with maxon motor to develop ceramic components for dental implants using injection moulding instead of conventional cutting techniques. The two companies have set up a joint venture to make the parts for Straumann, which will hold a 49 percent in the operation.

* Swissquote said it would not be able to reach its 2016 growth target of 10 percent. The bank said its annual earnings are expected to increase 2.5 percent to around 150 million Swiss francs for 2016, down from the 160 million francs it said it expected earlier this year.

* Alpig Holding on Wednesday said it had won a building technology contract for a new wind turbine production facility.

* COMET Group reiterated its targets to grow sales to around 500 million Swiss francs by 2020 with an EBITDA margin of 16 - 18 percent. It said it expected sales at the upper end of its guidance for 300 - 320 million franc revenues and 11 - 13 percent EBITDA in the current year in a statement ahead of its investor day.

* Cembra Money Bank has joined the STOXX Europe 600 Index, while GAM Holding has fallen out, STOXX Limited announced Tuesday evening.


$1 = 1.0104 Swiss francs Reporting by Zurich newsroom

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