Swiss stocks - Factors to watch on Oct 7

 

Swiss shares are set to open slightly lower on Wednesday after strong gains in the previous session.

The Swiss blue-chip index SMI was indicated to open 5.5 points lower at 6,272 points, according to premarket data provided by bank Clariden Leu.

The following are some of the main factors expected to affect Swiss stocks on Wednesday:

JULIUS BAER

Julius Baer is to pay 520 million Swiss francs ($507.3million) for the Swiss private banking assets of Dutch financial services group ING in the biggest deal in the wealth management industry since the start of the credit crisis.

NOVARTIS

European Commission inspectors have visited offices of Novartis's generics unit Sandoz in France, a company spokesman said late on Tuesday.

EU antitrust regulators raided several pharmaceutical companies suspected of violating antitrust rules as they stepped up their crackdown on drugmakers seen as delaying the launch of cheaper medicines.

ROCHE

Roche's Japanese subsidiary Chugai Pharmaceutical raised its full-year net profit forecast, citing robust demand for its products.

BALOISE

Baloise acquired Luxembourg insurer Fortis Luxembourg IARDSA from Fortis Insurance International for 23 million euros.

ECONOMY

The Swiss unemployment rate rose to a non-seasonally adjusted 3.9 percent in September from 3.8 percent in the previous month, the State Secretariat for Economic Affairs said on Wednesday.

When adjusted for seasonal factors, the unemployment ratestood at 4.1 percent after 4.0 percent in the previous month.