Swiss stocks - Factors to watch on May 4
04/05/2016 07:04
ZURICH, May 4 (Reuters) - The Swiss blue-chip SMI .SSMI
was seen opening 0.1 percent easier at 7846 points on Wednesday,
according to premarket indications by bank Julius Baer
JBPRE01 .
Here are some of the main factors expected to affect Swiss
stocks:
CREDIT SUISSE CSGN.S
The bank will take another around $100 million charge as
part of the sale of assets in its distressed credit portfolio to
U.S. investment firm TPG's TSSP, with most of the charge
reflected in the bank's first-quarter results. urn:newsml:reuters.com:*:nL5N1810R6
The Swiss bank and six other lenders have agreed to pay $324
million to settle a private U.S. lawsuit accusing them of
rigging an interest rate benchmark used in the $553 trillion
derivatives market. urn:newsml:reuters.com:*:nL2N1801ZF
Shares indicated down 0.1 percent.
For more click CSGN.S
SYNGENTA SYNN.S
The Swiss agrichemicals group named J. Erik Fyrwald, chief
executive of U.S. chemistry distribution company Univar Inc, as
CEO from June 1. He succeeds John Ramsay, who has been ad
interim CEO since November 2015. urn:newsml:reuters.com:*:nZ8N16P02A
Shares indicated up 0.6 percent.
SONOVA SOON.S
The hearing aid maker is buying Dutch-based AudioNova for
830 million euros ($953.4 million) in cash to expand its retail
presence. urn:newsml:reuters.com:*:nFWN18103S
Shares indicated down 0.1 percent.
COMPANY STATEMENTS CPR-CH
* EQT acquisition vehicle Kiwi said it controlled 98.2
percent of the voting rights and 97.7 percent of the share
capital of travel group Kuoni KUNN.S according to provisional
final results of a tender offer.
The Swiss Takeover Board ruled that an adjusted shareholder
agreement (inclusive contribution agreement) between the Kuoni
and Hugentobler Foundation and Kiwi complied with the provisions
of the FMIA and the implementing ordinances and in view of the
offer price of 370 francs did not violate the best price rule.
* Pargesa PARG.S swung to a first-quarter net loss of
371.3 million Swiss francs from a profit of 86.7 million a year
earlier urn:newsml:reuters.com:*:nFWN180141
* USI USIN.S said it had decided to submit a conditional
offer to acquire all the issued and outstanding shares of
London-based investment banking group RP&C International Inc in
exchange for over 2.1 million shares in the company urn:newsml:reuters.com:*:nFWN18013Y
* Altin AG ALTN.S said Eric Syz will be stepping down as
director following company's annual general meeting to be held
on May 9
ECONOMY M-CH
(Reporting by Zurich newsroom)
((+41 58 306 7336)(zurich.newsroom@thomsonreuters.com))
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