ZURICH, Sept 10 (Reuters) - Swiss shares are set to drop at
open as concerns about the banking sector weighed on global
stock markets once again.
Swiss luxury group Richemont<CFR.VX> meanwhile posted
unabaded sales growth in the first five months of its business
year and said it was well placed to weather the global economic
slowdown.
The Swiss blue-chip index SMI<.SSMI> was indicated to fall
98 points at open to 7,090 points, data provided by bank
Clariden Leu showed.<CLPRE>
The following are some of the main factors expected to
affect Swiss stocks on Wednesday:
RICHEMONT<CFR.VX>
Richemont, the world's second largest luxury goods group,
said sales grew by 11 percent the first five months of the year,
adding that it was well positioned to cope with the global
economic downturn.
For related news, click on [CFR.VX-RTRS-LEN]
LOGITECH <LOGN.VX>
Logitech announced a new share buyback programme, which
authorizes company to invest up to $250 million to purchase its
own shares.
For related news, click on [LOGN.VX-RTRS-LEN]
NOVARTIS <NOVN.VX>
Novartis said new research showed that its investigational
Meningitis B vaccine may be the first to protect infants of six
months and older against multiple strains of the potentially
deadly bacteria.
For related news, click on [NOVN.VX-RTRS-LEN]
ADDEX <ADXN.S>
Swiss biotech company Addex lead drug has shown improved
tolerability in an early-stage trial, boosting its commercial
potential and possibly paving the way for a partnering deal with
a big drugmaker.
For related news, click on [ADXN.S-RTRS-LEN]
ECONOMY
Swiss National Bank Vice-Chairman Philipp Hildebrand will
hold a speech about Albert Gallatin in Geneva and SNB board
member Thomas Jordan will hold a speech about mortgage financing
in Zurich.
For related news, click on [M-SNB-RTRS-LEN]
COMPANY STATEMENTS [CNR-CH]
* Roche <ROG.VX>Roche to present data showing progress in
treating lung, gastric and brain cancers at ESMO [ROG.VX]
* ADB<ADBN.S> Group share repurchase announcement [ADBN.S]
* Swatch Group <UHR.VX> said it completed the share
repurchase program of 420 million Swiss francs as at Sept 9
[UHR.VX]
* Edipresse <EDI.S> reported a rise in net income for first
half of 2008 [EDI.S]
EQUITY RESEARCH [CH-RCH]
* Citigroup raises Straumann <STMN.S> price target to 336
francs from 305 francs, rating hold [STMN.S] and raises Nobel
Biocare<NOBN.VX> price target to 47 francs [NOBN.VX]
* JP Morgan cuts Holcim<HOLN.VX> price target to 99 francs
from 138 francs, has neutral rating [HOLN.VX>
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Keywords: Swiss shares XREF
Keywords: Swiss shares XREF