ZURICH, Sept 27 (Reuters) – Swiss shares were set to open
higher on Thursday, in line with markets elsewhere in Europe
that were clawing back part of the previous session’s declines
in trading that is likely to be choppy as investors focus on
economic data and Spain’s
budget.
The blue-chip SMI was indicated up 0.2 percent at
6,554 points, premarket data by bank Julius Baer
showed.
The following are some of the main factors expected to
affect Swiss stocks on Thursday:
CREDIT SUISSE
* Credit Suisse is preparing to dismantle its sub-scale
asset management unit, integrating the business into its larger
private bank and investment bank to clamp down on costs, two
people within the Swiss bank told Reuters.
* London’s Metropolitan Police arrested a former Credit
Suisse trader on Wednesday in connection with a scandal dating
back to 2007 in which mortgage-backed securities traders were
caught trying to cover up losses on their books, a source
familiar with the matter told Reuters.
For more, click on
USB
Former UBS trader Kweku Adoboli told close colleague John
Hughes in January 2011 about a secret account he used to hide
unauthorised deals, nine months before Adoboli was found out and
arrested, a London court heard on Tuesday.
For more, click on
COMPANY STATEMENTS
* Lonza announced today that Intellect
Neurosciences awarded the future development and
manufacture of the antibody drug conjugate CONJUMAB-A to Lonza,
subject to completion of a definitive development and
manufacturing agreement.
* The Swiss exchange SIX has given Weatherford an
extension for publishing its half-year report.
* Geberit said Susanne Ruoff would leave the board
as of the AGM in April 2013.
* Phoenix Mecano said that owing to the cancellation
of a long-term contract with a major customer it anticipates an
impairment loss of approximately 6-8 million euros and now
anticipates an EBIT for 2012 in the 32-37 million euro range.
* Ewald Burgener (46) has been named the new CFO at the bank
Valiant.
* Peach Property said it had bought two properties
in central Dortmund via its subsidiary.
* Georg Fischer inaugurates ultramodern facility in
Mettmann for light weight auto component
ECONOMY
