Swiss Stocks Factors To Watch On July 13

ZURICH/BERLIN, Sept 17 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 8,965 points on Monday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks:

CREDIT SUISSE

Swiss financial watchdog FINMA said on Monday it had found deficiencies in anti-money laundering processes at the second biggest Swiss bank linked to suspected corruption involving soccer body FIFA, Brazil’s Petrobras and Petróleos de Venezuela, S.A.

Additionally, the bank is aiming for an annual profit of 5 to 6 billion Swiss francs ($5.2-6.2 billion) for the next two years as it puts its problems behind it, Chief Executive Tidjane Thiam told Swiss newspaper NZZ am Sonntag in an interview published on Sunday.

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NOVARTIS

Novartis officials hold a conference call with investors over environmental, social and governance issues after Chief Executive Vas Narasimhan expressed his intentions to tackle ethics issues that have tripped up the Swiss drugmaker in the recent past.

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STADLER

Swiss trainmaker Stadler has hired corporate finance adviser Alantra to lay the groundwork for a possible initial public offering, sources told Reuters on Friday, an option long considered by the rail company’s billionaire owner Peter Spuhler.

COMPANY STATEMENTS

* ABB said it had completed its acquisition of AB Rotech, a privately owned company headquartered in Bursa, Turkey. The deal, which was for an undisclosed sumd, was announced on July 6.

* Swiss packaging maker SIG Combibloc on Friday set the price range for its initial public offering at 10.50 to 13.50 Swiss francs per share, targeting proceeds of 1.05 billion euros which will be used to trim debt.

* Burkhalter said its H1 result fell 35.4 percent to 9.6 million Swiss francs.

* BVZ Holding said H1 consolidated profit rose 6 percent to 5.2 million francs.

ECONOMY

Swiss National Bank releases latest sight deposits at 0800 GMT ($1 = 0.9675 Swiss francs) (Reporting by Zurich newsroom and Berlin Speed Desk)

Source : https://www.reuters.com/article/markets-swiss-stocks/swiss-stocks-factors-to-watch-on-sept-17-idUSL2N1W0088

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