Swiss stocks - Factors to watch on Sept 21
21/09/2016 06:12
ZURICH, Sept 21 (Reuters) - Here are some of the main
factors expected that could affect Swiss stocks on Wednesday:
ZURICH INSURANCE ZURN.S
Zurich is combining its corporate and commercial businesses
into a single unit under new leadership, part of its
streamlining process under new Chief Executive Mario Greco.
James Shea, previously AIG's AIG.N president of global financial
lines, will head up the newly combined commercial insurance
unit, Zurich said. urn:newsml:reuters.com:*:nFWN1BW0ED
For more click on ZURN.S
VONTOBEL VONN.S
Vontobel said on Tuesday it had signed an agreement
deepening its asset management partnership with Raiffeisen
RFSHW.UL and extending the partnership into the next decade.
Vontobel further completed its acquisition of Raiffeisen's asset
management subsidiary Vescore AG on Tuesday on well. The Swiss
private bank said the purchase was financed entirely out of its
own funds.
For more click on VONN.S
CREDIT SUISSE CSGN.S
The U.S. judge overseeing litigation accusing 16 banks of
rigging prices in the $5.3 trillion-a-day foreign exchange
market on Tuesday narrowed but refused to dismiss lawsuits
against seven large banks, including Credit Suisse, that have
yet to settle. urn:newsml:reuters.com:*:nL2N1BW2FA
For more click on CSGN.S
SWISSCOM SCMN.S
Chief Financial Officer Mario Rossi expects erosion of the
telecom giant's earnings margins to accelerate in the second
half-year as a result of heightened price competition falling
roaming revenues. "In the first half-year, our Swiss business
lost 21 million Swiss francs in EBITDA; in the full year it will
be 150 million francs," he told newspaper Finanz und Wirtschaft.
Swisscom was nonetheless on track to meet its 2016 targets,
Rossi said.
For more click on SCMN.S
COMPANY STATEMENTS CPR-CH
* Wisekey WIHN.S completed the acquisition of Inside
Secure's integrated circuit solutions and semiconductor
business, which generated revenues of $33 million last and is
expected to generate $34 million this year, Wisekey said.
WIHN.S
* lastminute.com LMN.S acquired social travel network WAYN
through an asset deal, the online travel group said, and would
not have any impact on the group's reported finances. LMN.S
* Aevis Victoria AEVS.S issued a 6-year 130 million Swiss
franc bond it said would be used for refinancing and general
corporate purposes. AEVS.S
(Reporting by Zurich newsroom)
((+41 58 306 7336)(zurich.newsroom@thomsonreuters.com))
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