ZURICH: The Swiss blue-chip SMI was seen opening 0.5 percent higher at 8,973 points on Monday, according to premarket indications by bank Julius Baer . Here are some of the main factors that may affect Swiss stocks.
Chief Executive Vas Narasimhan is remaking leadership at the Swiss drugmaker as operations president Andre Wyss departs and three people including the company’s digital specialist and top lawyer get seats on the executive committee.The Swiss bank has told staff that it is “business as normal”, after it revealed on Friday it is fighting an 18-month suspension in Hong Kong from leading initial public offerings (IPOs).The Swiss surgical implant maker expects to raise up to 142.5 million francs in gross proceeds in an initial share sale, with Chairman Thomas Straumann remaining the main shareholder at around 50 percent. Medartis, which had sales of 105 million Swiss francs ($112 million) and operational EBITDA of 19 million in 2017, had announced its IPO plans last month.
