ZURICH: The Swiss blue-chip SMI was seen opening 0.2 percent higher at 8,808 points on Monday, according to premarket indications by bank Julius Baer .Switzerland’s biggest bank on Monday posted a 1.51 billion Swiss franc ($1.55 million) net profit for the first quarter of 2018, helped by a rise in income from its investment bank amid increasing global market volatility.
Switzerland’s sovereign money initiative said supporter Michael Derrer submitted a complaint against Switzerland’s central bank, federal council and conference of cantonal finance directors to the canton of Aargau’s governing council for providing misinformation in relation to the initiative, which heads to the polls on June 10.The chief executive of Lufthansa subsidiary Swiss told Swiss newspaper SonntagsZeitung the group is on track for another passenger record year if things continue as they have so far. CEO Thomas Kluehr says he’s convinced Swiss will once again reach margins over 8 percent this year. A stronger euro versus the Swiss franc will cause short-term negative effects for the airline due to more expensive imported supplies, he said, but will ultimately have a positive impact in the long-run as it strengthens the Swiss export economy.
