Swiss stocks - Factors to watch on Oct 31
31/10/2014 07:03
ZURICH, Oct 31 (Reuters) - Swiss stocks were expected to
open higher on Friday, tracking a rally on Wall Street as well
as sharp gains in Tokyo after the Bank of Japan stunned markets
by easing policy further.
The Swiss blue-chip SMI .SSMI was seen opening up 0.9
percent at 8,799 points, according to premarket indications by
bank Julius Baer JBPRE01 .
The following are some of the main factors expected to
affect Swiss stocks on Friday:
CREDIT SUISSE CSGN.VX
The Swiss bank said it added a relatively modest net 390
million Swiss francs ($406 million) to its litigation provision
in the third quarter, bucking a recent trend of major banks
drastically beefing up legal reserves.
For more click on CSGN.VX
LONZA
Switzerland's Lonza LONN.VX revised down its forecast for
full-year revenue growth on Friday as bad weather weighed on its
water business.
For more click on LONN.VX
SWISS NATIONAL BANK
The Swiss National Bank reported a nine-month consolidated
profit of 28.5 billion Swiss francs ($29.7 billion), largely due
to a rise in its foreign exchange positions.
For more click on SNB
COMPANY STATEMENTS CPR-CH
* Zurich Insurance ZURN.VX said it had successfully closed
the sale of its general insurance retail business in Russia to
OLMA Group. ZURN.VX
* Lonza LONN.VX and Bristol-Myers Squibb BMY.N announced
a multi-year expansion of their existing biologics manufacturing
agreement. Financial terms were not disclosed. LONN.VX
* Kudelski KUD.S said Imagine Communications had bought
the advertising business unit of OpenTV, Inc., part of Kudelski.
KUD.S
* Schweiter Technologies SWTQ.S said it would buy PNG
Balsa in Papua New Guinea. The transaction is scheduled to be
completed in the first quarter of 2015 and the deal price is in
the low double-digit million U.S. dollar range. SWTQ.S
* HBM Healthcare Investments AG HBMN.S said a new share
buy-back programme of up to 800,000 registered shares will be
conducted via a separate trading line on the SIX Swiss Exchange.
It will begin on Nov, 3 and will be completed no later than June
19, 2017. HBMN.S
ECONOMY M-CH
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Keywords: MARKETS SWISS STOCKS