Retail

Swiss stocks – Factors to watch on Sept 3


ZURICH, Sept 3 (Reuters) – Here are some of the main factors that may affect Swiss stocks on Monday.

NOVARTIS

The group plans to streamline its worldwide production to increase its operating profit margin despite falling prices for its drugs in the United States, its chairman was reported as saying.

Proceeds from the sale of drugs in its key U.S. market declined between 1 and 2 percent last year, Joerg Reinhardt told NZZ am Sonntag. This was due to discounts pharmaceutical companies have to grant large buyers to sell their drugs in the Unites States, he said.

RAIFFEISEN

The lender is likely to announce its new chairman after a board meeting on Sept. 14, Schweiz am Wochenende said. Charges against former Chief Executive Pierin Vincenz will most likely not to be filed before 2019 as prosecutors need time for questionings, the paper said.

COMPANY STATEMENTS

* UBS said it is launching a foreign exchange pricing and trading engine in Singapore.

* Edisun Power Europe said first half net income rose 66 percent to 1.43 million Swiss francs.

* Daetwyler Holding said it is buying U.S. O-ring maker Parco, which has $60 million in annual sales and 275 workers. The price was not given.

* Schaffner said it appointed Daniel Zeidler from ABB as its head of Power Magnetics.

* Sulzer said it completed its purchase of Medmix .

ECONOMY

Swiss retail sales figures at 0915 CET

Swiss manufacturing PMI at 0930 CET

Reporting by Zurich newsroom



READ SOURCE

Read More   Yemen's war shifts focus to Marib, thousands of displaced at risk

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.