Swiss stocks - Factors to watch on Oct 8

 

Swiss shares are set to open higher on Thursday, in line with other European stocks ahead of rate decisions from the Bank of England and the European Central Bank later in the session.

The Swiss blue-chip index SMI was indicated to open 54 points lower at 6,314 points, according to premarket data provided by bank Clariden

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

ABB

Swiss engineering group ABB said on Thursday it had renewed a $2 billion revolving credit facility to replace an existing facility signed in 2005 and due to expire in 2010.

NOVARTIS

Swiss drugmaker Novartis AG said on Thursday it had gained exclusive worldwide rights to a drug candidate already in late stage trials for treatment of drug-resistant bacteria like MRSA.

WEALTH MANAGERS

The wealth management industry is in the midst of unprecedented change as volatile financial markets and the erosion of bank secrecy challenge traditional business models, leading industry executives told the Reuters Global Wealth Management Summit held this week in Boston, Geneva, Singapore and Tokyo.

ECONOMY

* Swiss National Bank Vice-Chairman Philipp Hilde brand gives speech in Basel 

COMPANY STATEMENTS

* Swiss Re acquires Retakaful licence, sets up Retakaful operation in Kuala Lumpur