Swiss stocks - Factors to watch on May 24
24/05/2016 07:22
ZURICH, May 24 (Reuters) - The Swiss blue-chip SMI .SSMI
was seen opening 0.3 percent lower at 8,015 points on Tuesday,
according to premarket indications by bank Julius Baer
JBPRE01 .
The following are some of the main factors expected to
affect Swiss stocks:
EFG INTERNATIONAL EFGN.S
Switzerland's Office of the Attorney General (OAG) has
opened criminal proceedings against Swiss bank BSI in connection
with embattled Malaysian state fund 1Malaysia Development Berhad
(1MDB), it said on Tuesday.
Swiss financial watchdog FINMA said it found BSI in breach
of money laundering regulations in connection with 1MDB and that
it had ordered the disgorgement of profits amounting to 95
million Swiss francs. urn:newsml:reuters.com:*:nFWN18F07M
EFG International, which has agreed to buy BSI, said the
fine in 1MDB case will result in a reduction in the BSI purchase
price. urn:newsml:reuters.com:*:nFWN18K0G2
BSI said Roberto Isolani would replace Stefano Coduri as
group CEO. urn:newsml:reuters.com:*:nFWN18K0G6
For more news click EFGN.S
SWISSCOM SCMN.S
Switzerland's Competition Commission (COMCO) fined telecoms
group Swisscom 71.8 million Swiss francs ($72.5 million) for
abusing its dominant position in live sports broadcasting on pay
television, it said on Tuesday. urn:newsml:reuters.com:*:nFWN18K0G7
For more news click SCMN.S
CREDIT SUISSE CSGN.S
Goldman Sachs Group Inc GS.N hired investment banker David
Kamo from Credit Suisse Group AG as it seeks to grow its
business working with private equity firms, according to people
familiar with the matter. urn:newsml:reuters.com:*:nL2N18K17E
For more news click CSGN.S
NESTLE NESN.S
The world's biggest packaged food maker holds a two-day
investor seminar in Vevey, Switzerland.
For more news click on NESN.S
COMPANY STATEMENTS CPR-CH
* Novartis NOVN.S said Sandoz' biosimilar rituximab
regulatory submission had been accepted by the European
Medicines Agency. NOVN.S
* Evotec EVTG.DE extended its drug discovery alliance with
Roche's ROG.S Genentech. ROG.S
* Givaudan said it would acquire ConAgra Foods' Spicetec
Flavors & Seasonings business. The total purchase price is $340
million, which Givaudan plans to fund from existing resources.
* Richemont CFR.S has entered exclusive talks with Italian
private equity firm Clessidra to acquire a majority stake in the
Buccellati jewellery house which Clessidra bought in 2013,
Italian daily Il Sole 24 Ore reported. Bucellati had revenues of
around 50 million euros last year. CFR.S
* Lafargeholcim LHN.S said Caroline Luscombe will join
Lafargeholcim as head of organization and human resources and
Jean-Jacques Gauthier was appointed country CEO of Algeria.
LHN.S
* Basellandschaftliche Kantonalbank BLKB.S said John
Haefelfinger was appointed as the new chief executive officer
and that he will assume this function on Jan. 1, 2017. BLKB.S
ECONOMY M-CH
* Exports from Switzerland rose year-on-year by a real 4.3
percent in April to 17.985 billion Swiss francs ($18.16
billion), the Federal Customs Office said on Tuesday.
urn:newsml:reuters.com:*:nZ8N17L00S
(Reporting by Zurich newsroom)
((+41 58 306 7336)(zurich.newsroom@thomsonreuters.com))
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Keywords: MARKETS SWISS STOCKS/