BERLIN/ZURICH, Jan 3 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3% higher at 10,645 points on Friday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
NESTLE
The food giant Nestle said it had completed a 20 billion Swiss franc share buyback programme and reiterated plans for a new one up to the same amount.
AMS
The sensor maker said it had secured a 59.9% stake in German lighting group Osram, reaching a 55% minimum threshold but falling short of a 75% hurdle needed to tap Osram’s profits.
SUNRISE COMMUNICATIONS
Chief Executive Olaf Swantee quit while Chairman Peter Kurer will not run for re-election after a shareholder uprising blocked the Swiss telecom company’s $6.3 billion bid for Liberty Global’s Swiss cable unit.
SWATCH
Chief Executive Nick Hayek would accept an upper limit on delivering watch mechanisms to other timepiece makers that would keep Swatch’s subsidiary ETA’s market share under a third, Swiss newspaper Neue Zuercher Zeitung reported on Friday, amid a long-running, still-unresolved watch industry dispute in which competition regulators aim to address concerns about Swatch’s market power.
ROCHE
A review committee at U.K. healthcare price watchdog NICE declined to recommend Roche’s Tecentriq immunotherapy combined with chemotherapy for small-cell lung cancer for reimbursement by the National Health Service after concluding the medicine did not meet cost-effective criteria, according to draft guidance. Public comment on the recommendation is open until Jan. 28.
COMPANY STATEMENTS
* Jungfraubahn Holding reported 1.056 million passengers for its Jungfrau Railway in 2019, a decline of 1% on the year.
* Novartis: U.S. company Adamas Pharmaceuticals announced a settlement agreement with Novartis’ Sandoz division concerning a generic version of Adamas’ Gocovri drug.
* Zuger Kantonalbank said its bearer shares will be exchanged into registered shares on Jan. 8 following a resolution by last year’s annual general meeting.
ECONOMY
* Swiss December manufacturing PMI due at 0830 GMT, seen at 49.1 (Reporting by Zurich newsroom and Berlin Speed Desk)
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January 03, 2020 at 12:56PM
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Swiss stocks - Factors to watch on January 3 - Reuters
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