Swiss stocks - Factors to watch on Sept. 12
12/09/2016 06:56
ZURICH, Sept 12 (Reuters) - The following are some of the
main factors expected to affect Swiss stocks on Monday.
SWISS RE SRENH.S
The world's second-biggest reinsurance group, said on Monday
it expected price levels to stabilise and price erosion in
natural catastrophe business to slow. urn:newsml:reuters.com:*:nFWN1BL0TH
The reinsurer further showed optimism over advancing
technologies, saying developments like big data as well as
cognitive and cloud computing could reduce costs in the
reinsurance and insurance industries, and open up new revenue
sources through novel services.
FOR MORE CLICK ON SRENH.S
ADIENNE
Swiss biotechnology firm ADIENNE said on Monday it plans to
seek a listing on Switzerland's bourse in an initial public
offering. Lugano, Switzerland-based ADIENNE said Bank of America
Merrill Lynch BAC.N and Jefferies International Limited
JFLL.UL are acting as global coordinators and joint
book-runners with Bank am Bellevue co-lead manager. It did not
release a timeline for the planned floatation or expectations of
how it hopes to earn from the IPO. urn:newsml:reuters.com:*:nFWN1BL0QO
COMPANY STATEMENTS CPR-CH
* Kudelski KUD.S said it had won a legal victory against
global pay TV piracy after China's Zhuhai Gotech Intelligent
Technology Co was ordered by a U.S. court to pay one of its
companies damages of $101 million for its manufacture, sale and
maintenance of pirate devices and services, recognising more
than half a million individual infringements. KUD.S
* Alpiq Holding ALPH.S said it has successfully completed
its third buyback of bonds due between 2017 and 2021. Overall,
bonds totalling 218 million Swiss francs ($223.41 million) will
be repurchased. ALPH.S
* Incoming Sunrise SRCG.S Chairman Peter Kurer told
Schweiz am Sonntag he believes larger rival Swisscom SCMN.S
should be privatised. "I think it's wrong for the largest
service provider to be state-owned," he said in the Sunday
paper. SCMN.S SRCG.S
* Carlo Gavazzi Holding GAV.S said it had received
favourable final outcome of an arbitration when an appeal by a
respondent was rejected by Swiss Federal Tribunal in Lausanne.
GAV.S
* MCH Group MCHN.S said it is acquiring 60.3 percent of
India Art Fair organiser Seventh Plane Pvt. Ltd., based in New
Delhi. MCHN.S
* Looser Holding LOHN.S subsidiary Condecta is fully
acquiring WMS WC-Mietservice GmbH, a company with 3.3 million
Swiss francs of annual revenues, Looser said on Monday. LOHN.S
* Galenica GALN.S Chairman Etienne Jornod told
Sonntagszeitung the company is convinced it will find a good
solution for the roughly 20 percent of shares owned by Sprint
Investments. GALN.S
SWITZERLAND POLITICS
* Swiss Bankers Association Chairman Patrick Odier told the
NZZ am Sonntag that talks with the Swiss National Bank about its
exemption threshold for negative interest rates had so far not
resulted in changes to the SNB's policy. Odier said Swiss wealth
managers were disproportionably exposed to negative interest
rates at the central bank.
* SonntagsZeitung reports - citing unnamed sources - that
Swiss President Johann Schneider-Ammann is set to inform EU's
Jean-Claude Juncker that Switzerland wants to end talks on
migration rules with the EU. SonntagsZeitung cites the sources
as saying the government will officially task the president with
announcing an end to the talks on Wednesday after a compromise
has been reached in form of draft legislation that would give
preferential treatment to Swiss citizens searching for jobs in
the country. urn:newsml:reuters.com:*:nL8N1BE2A6
Click on this link to see the original story in German: http://sonntagszeitung.ch/read/sz_11_09_2016/nachrichten/Schneider-Ammann-soll-Juncker-Verhandlungsabbruch-kundtun-72959
ECONOMY M-CH
($1 = 0.9758 Swiss francs)
(Reporting by Zurich newsroom)
((+41 58 306 7336)(zurich.newsroom@thomsonreuters.com))
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