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Swiss stocks - Factors to watch on May 17
May 17, 2017 / 4:32 AM / 7 months ago

Swiss stocks - Factors to watch on May 17

ZURICH, May 17 (Reuters) - The Swiss blue-chip SMI was seen opening down 0.36 percent at 9,095 points on Wednesday, according to premarket indications by bank Julius Baer .

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


Chief Executive Severin Schwan said in an interview with Finanz und Wirtschaft that price erosion from biosimilar versions of the Swiss drugmaker’s medicines including Herceptin and Rituxan will be “less dynamic” than with generic versions of simpler small molecule drugs

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* Schindler Chief Executive Thomas Oetterli told Finanz und Wirtschaft the elevator and escalator maker is open to making acquisitions in China. Oetterli also said he sees no reason why the company should not catch up to margin levels of its competitors.

* Evolva said shareholders approved proposals at the annual general meeting after the board of directors withdrew three of the proposals related to authorised and conditional capital increases. The company said its withdrawals will not have an effect on immediate business operations.

* Newron Pharmaceuticals said it was expanding its STARS study to include patients under 13 years of age suffering from Rett syndrome.

* Sulzer said it was buying Simcro, a New Zealand-based pharmaceutical delivery device maker for livestock and companion animals, for enterprise value of 90 million Swiss francs ($91.46 million).

* Clariant said it is investing in a new additives facility in China, to ensure local manufacturing of customized, solutions for the Plastics, Coatings & Inks industries.

* Flughafen Zuerich said it named a new chief operations officer, Stefan Tschudin.

* Burckhardt Compression said it will modernize Mol Petrochemicals’ third-party hyper compressor at a plant in Hungary.

* VAT Group said first-quarter sales rose 42 percent, while orders were up 35 percent year on year.

* Baloise published the provisional outcome of its takeover bid for all publicly held registered shares in Pax Anlage AG. Up to the end of the additional acceptance period on April 16, 21,151 Pax Anlage Shares were offered to the offeror, equating to 11.75 percent of all Pax Anlage Shares listed or 41.1 percent of the to which the offer related at the time the additional acceptance period ended.

* Myriad Group said it will propose Michel Tombroff, chief executive of Jack Media, as a new non-executive member of Myriad’s board of directors, subject to election at its annual general meeting on May 24.

* SHL Telemedicine said it will record additional revenues of 5.3 million euros ($5.88 million) in 2016 from a contract in Germany.


$1 = 0.9013 euros $1 = 0.9840 Swiss francs Reporting by Zurich newsroom

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