Swiss stocks - Factors to watch on July 24

Compagnie Financiere Tradition SA

24/07/2014 07:35

ZURICH, July 24 (Reuters) - Swiss stocks were expected to 
open a touch higher on Thursday,  bucking a move lower in Europe 
where developments in Ukraine and the euro zone's disappointing 
pace of recovery will dominate. 
    The Swiss blue-chip SMI  .SSMI  was seen opening 0.1 percent 
higher at 8,614 points, according to premarket indications by 
bank Julius Baer  JBPRE01 . 
    The following are some of the main factors expected to 
affect Swiss stocks on Thursday. 
 
    UBS  UBSN.VX  
    Swiss bank UBS  UBSN.VX  said it had been ordered by French 
officials on Wednesday to pay 1.1 billion euros ($1.48 billion) 
in bail after being put under formal investigation over 
allegations it laundered the proceeds of tax evasion. 
    For more, click on  UBSN.VX  
     
    ROCHE  ROG.VX  
    Swiss drugmaker  ROG.VX  posted a slight fall in sales in 
the first half, as the strong Swiss franc put the brakes on 
solid growth of its breast cancer medicines. 
    For more, click on  ROG.VX  
     
    LONZA  LONN.VX  
    Switzerland's Lonza  LONN.VX  said first-half net profit 
more than trebled as its pharmaceutical and biotech production 
ingredients arm benefited from drugmakers increasingly 
outsourcing production. 
    For more, click on  LONN.VX  
           
    COMPANY STATEMENTS  CPR-CH  
    * Novartis  NOVN.VX  said U.S. health officials accepted a 
biologics license application for filgrastim, a drug used to 
boost production of infection-fighting white blood cells in 
certain cancer patients receiving chemotherapy.  NOVN.VX  
    * Logitech  LOGN.S  raised its outlook for operating income 
next year to roughly $170 million after first-quarter sales rose 
1 percent to $484 million.  LOGN.S  
    * Basler Kantonalbank  BSKP.S  said first-half profit fell 
18.3 percent to 105.1 million Swiss francs ($116.48 million) 
amid a strategic overhaul of its business.  BSKP.S  
    * Leonteq  LEON.S  said first-half net profit rose 25 
percent to 26.8 million and that shareholders will receive one 
tradable subscription right for every existing share they hold 
in a rights issue expected to net roughly 173.1 million francs 
to support the firm's growth strategy.  LEON.S  
    * Compagnie Financiere Tradition  CFT.S  said second-quarter 
revenue was down 12.8 percent in constant currencies at 203.8 
million francs.  CFT.S  
     
    ECONOMY  M-CH  
     
 
     
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($1 = 0.9023 Swiss Francs) 
 
  
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Keywords: MARKETS SWISS STOCKS