Swiss stocks - Factors to watch on April 5

EvoNext Holdings SA

05/04/2016 07:03

ZURICH, April 5 (Reuters) - The Swiss blue-chip SMI  .SSMI  
was seen opening 0.5 percent lower at 7697 points on Tuesday, 
according to premarket indications by bank Julius Baer 
 JBPRE01 . 
    Here are some of the main factors that may affect Swiss 
stocks: 
     
    CREDIT SUISSE  CSGN.S  
    On Jan. 19, Chief Executive Tidjane Thiam contacted the head 
of the Swiss bank's markets business asking for more details 
about the fourth-quarter results at the trading division, 
according to materials seen by Reuters. Two-and-a-half months 
and nearly $1 billion in write-downs later, investors, analysts 
and former board members are questioning why Thiam and his 
finance chief, David Mathers, were caught out by the scale of 
the division's illiquid trades.  urn:newsml:reuters.com:*:nL5N1770QC 
     
    Thiam said on Tuesday the Swiss bank has been "underweight" 
in China and would look to build its wealth management 
capabilities in the world's second-biggest economy despite 
slowing growth.  urn:newsml:reuters.com:*:nL3N1771XI 
    For more news see  CSGN.S  
     
    UBS  UBSG.S  
    The bank proposed Robert Scully and Dieter Wemmer for 
election as new members of its board of directors for a one-year 
term. Scully is a former co-president of Morgan Stanley and held 
management positions at Lehman Brothers, Scully Brothers Foss & 
Wight and Salomon Brothers. Wemmer is Allianz SE's chief 
financial officer and previously spent more than 25 years at 
Zurich Insurance Group. 
     
    A UBS unit must pay more than $4.7 million to a customer's 
former spouse who alleged that the firm improperly released 
accounts worth $12 million to her ex-husband despite a court 
order freezing those assets, a U.S. federal judge ruled. 
 urn:newsml:reuters.com:*:nL2N17802A 
     USBG.S  
     
    LAFARGEHOLCIM  LHN.S  
    Private equity, strategic investors vie for LafargeHolcim 
India cement units - Mint reported  urn:newsml:reuters.com:*:nL3N1780YI 
     LHN.S  
     
    SCHINDLER  SCHP.S   
    The elevator maker is selling its Japanese business to 
United Technologies'  UTX.N  Otis unit after its new 
installations in the country were halted following a 2006 
accident. It gave no financial terms.  urn:newsml:reuters.com:*:nFWN1770RM 
       
    COMPANY STATEMENTS  CPR-CH  
    * Repower AG  REPI.S  said full-year total output fell 17 
percent to about 1.9 billion Swiss francs and reported a net 
loss 136 million francs.  urn:newsml:reuters.com:*:nFWN1770RE 
    Swisspower Energy and Repower decided against comprehensive 
collaboration, deeming the anticipated synergies to be 
insufficient. Swisspower and Repower will continue to work as 
partners.  urn:newsml:reuters.com:*:nFWN1770RF 
     
    * Evolva Holding SA  EVE.S  said it gains exclusive license 
from CDC to develop and commercialise nootkatone globally for 
pest control  urn:newsml:reuters.com:*:nFWN1770RP 
     
    * Sulzer  SUN.S  acquires PC Cox, a British maker of 
industrial dispensers with an enterprise value of about GBP 16 
million (22 million francs)  urn:newsml:reuters.com:*:nFWN1770RI 
     
    * Dorma Kaba Holding AG  DOKA.S  confirms that, thanks to 
improved purchasing conditions, optimised infrastructure costs 
and efficiency gains, it expects to see cost synergies of 60-70 
million Swiss francs per year, scheduled to be fully effective 
from the 2018/2019 financial year  urn:newsml:reuters.com:*:nL5N1780AB 
     
    * Newron Pharmaceuticals SpA  NWRN.S  said an ongoing phase 
II study of Evenamide (NW-3509) may suggest an alternative 
approach to treatment of schizophrenia  urn:newsml:reuters.com:*:nFWN1770RO 
     
    ECONOMY  M-CH  
    The Swiss National Bank has room to ease policy further to 
help rein in a Swiss franc that remains significantly 
overvalued, SNB Chairman Thomas Jordan told a financial 
conference on Monday. He said inflation was set to creep back 
into positive territory by mid-2017 but this depended heavily on 
oil prices and the franc's exchange rate.  urn:newsml:reuters.com:*:nZ8N16P006 
 
 (Reporting by Zurich newsroom) 
 ((+41 58 306 7336)(zurich.newsroom@thomsonreuters.com)) 
  
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Keywords: MARKETS SWISS STOCKS/