September 22, 2016 / 5:12 AM / 2 years ago

Swiss stocks - Factors to watch on Sept 22

ZURICH, Sept 22 (Reuters) - The Swiss blue-chip SMI was seen opening 0.5 percent higher at 8,264 points on Thursday, according to premarket indications by bank Julius Baer .

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


Legislation giving locals hiring preference, a compromise aimed at preserving Switzerland’s economic treaties with the European Union while still easing pressure on the job market from foreign workers, cleared a first hurdle in Swiss parliament on Wednesday.

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The European Union (EU) regulators have greenlit the acquisition of Swiss Gategroup by Chinese conglomerate HNA Group, the EU said on Wednesday.

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UBS and Credit Suisse are among the banks which have set up offshore accounts for customers in the Bahamas, Swiss newspaper Tages-Anzeiger reported. The two banks have set up around 9,500 companies each in the tax free country over the last 25 years, according to information revealed in a data leak.


* Novartis said it has published proof of concept study results showing that its new antimalarial compound, KAF156, showed potential to be effective against blood and liver stages of malaria, including artemisinin-resistant parasites.

* SGS said it acquired the assets and license of John R. McCrea Agency, Inc. (McCrea), an official designated inspection agency licensed by the US Department of Agriculture. It expects it to generate annual revenues of approximately USD 0.5 million.

* Nestle to launch global premium chocolate brands range in India, the Economic Times reported.

* Groupe Minoteries SA said it had a net profit of 2.3 million Swiss francs in the first half of 2016.

* Zueblin Immobilien Holding said its CFO and COO Thomas Wapp leaves the company at the end of March 2017 in order to join Allreal Group as CFO. The company will inform on his successor in due time.

* Relief Therapeutics reported a first half loss of 4.62 million francs, from a loss 3.48 million francs a year earlier.

* Newron Pharmaceuticals, a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central nervous system and pain, said it has re-submitted the New Drug Application (NDA) for Xadago (safinamide), a treatment for Parkinson’s disease, to the US Food and Drug Administration.

* Huber + Suhner said it struck a strategic alliance with Germany’s Weidmueller to be able to supply rail industry customers with complete, 100 percent tested solutions for the connection and transmission of power, signals and data.

Reporting by Zurich newsroom

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