Swiss stocks - Factors to watch on Dec 30
30/12/2015 06:41
ZURICH, Dec 30 (Reuters) - The following are some of the
main factors expected to affect Swiss stocks on Wednesday:
JULIUS BAER BAER.VX
Julius Baer has set aside nearly $200 million in additional
provisions to settle a U.S. criminal investigation that it
helped wealthy American clients dodge taxes, the Swiss private
bank said on Wednesday.
The bank's new provision for the settlement is $547.25
million, more than one and a half times the $350 million
Zurich-based Baer had set aside in June to cover potential
penalties in the U.S. tax case. urn:newsml:reuters.com:*:nL8N14J09B
For more click on BAER.VX
COMPANY STATEMENTS CPR-CH
* The Federal Electricity Commission has completed its
investigation of grid usage charges and energy tariffs charged
by Repower REPI.S in 2009 and 2010, urn:newsml:reuters.com:*:nFWN0VD019 the Swiss
company said on Tuesday evening, accepting Repower's reported
operating and administrative costs and "essentially
confirm(ing)" the company's costs of capital for the 2010 tariff
period. Due to an ongoing clarification in the Federal
Administrative Court, a conclusion could not yet be reached on
whether there had been a shortfall or surplus cover in and
following the period. REPI.S
* OTI Energy AG OTI.S and ERVA s.r.l. have signed a
preliminary conditional offer for the Italian company to take
over OTI's participation in Prodena s.r.l. The Swiss company
said it would eliminate over 11.8 million Swiss francs ($11.90
million) of debt and improve its net financial position by over
2.8 million francs through the deal.
* Villars Holding SA VILN.S will be acquiring all of Suard
SA's shares on the first day of the new year, after assuming
operational responsibility over the baking and confection expert
three years ago. VILN.S
* Myriad Group's MYRN.S Olivier Bartholt is leaving his
job as chief revenue officer. In the role, held since August
2013, he steered two business units back into profitability, the
company said on Wednesday. MYRN.S
* Logitech LOGN.S is separating its Lifesize division from
the company to create Lifesize, Inc. Logitech will keep a 37.5
percent stake in the company; Redpoint Ventures, Sutter Hill
Ventures and Meritech Capital Partners will join the Swiss tech
company as shareholders, having invested $17.5 million into the
new company. Logitech intends to focus on its retail business
following the separation, from which the company expects to
generate $15 million to $20 million in non-cash gains in the
fourth quarter of its fiscal year 2016.
ECONOMY M-CH
* UBS due to release its consumption indicator at 0700 GMT
($1 = 0.9920 Swiss francs)
(Reporting by Zurich newsroom)
((+41 58 306 7336)(zurich.newsroom@thomsonreuters.com))
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