ZURICH, Sept 11 (Reuters) - The Swiss blue-chip SMI was seen opening 0.12 percent up at 8,923 points on Monday, according to premarket indications by bank Julius Baer .
The following are some of the main factors expected to affect Swiss stocks.
The global reinsurer sees prices stabilising after catastrophes including Hurricane Harvey in the Caribbean as well as flooding in Asia, it said on Monday on the sidelines of an industry conference in Monte Carlo.
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Swiss drugmaker Novartis notched a trial win for its drug cocktail against skin cancer on Monday, while a rival treatment from Roche with slipping sales failed in a separate study with a similar patient group.
Roche’s Genentech subsidiary said late on Friday that a study of the lampalizumab treament for age-related macular degeneration, a form of blindness, did not meet its primary endpoint. Analysts had forecast sales for the drug to reach around 1.5 billion Swiss francs ($1.59 billion) by 2023, though the trial raises questions about its potential.
Roche shares were seen slipping 1.7 percent, according to premarket indicators from Julius Baer.
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Germany’s Merck KGaA has hired JP Morgan to sell its consumer health business, with Switzerland’s Nestle among those being sounded out as a potential buyer.
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Walter Kielholz, chairman of the world’s second-largest reinsurer, told newspaper Schweiz am Wochenende it was still too early to provide loss estimates for Hurricanes Harvery and Irma. “Certainly, the size of damages will be large. Swiss Re will also be affected by that,” Kielholz said. Maximum claims payouts and the tendency for premiums to rise after large events meant natural catastrophes did not pose a large risk for Swiss Re as a reinsurer, the 66-year-old said.
* Edisun Power Group said it has carried out a capital increase of 5.1 million francs.
* Novartis said a five-year study of its Lucentis eye medicine reconfirmed its effectiveness when compared to Regeneron’s Eylea.
* Evolva finalized a contract with the U.S. government worth $8.4 million to advance products that can protect against mosquito-borne diseases such as Zika virus.
The Swiss National Bank is due to release data on sight deposits at 0800 GMT. ($1 = 0.9455 Swiss francs) (Reporting by Zurich newsroom)