Swiss stocks – Factors to watch on Oct 20

ZURICH, Oct 20 – Swiss stocks are set to open lower on
Wednesday, in line with Britain’s FTSE 100 (.FTSE: ) and Germany’s
DAX (.GDAXI: ), as investors worry about U.S. mortgage bonds and
China’s surprise interest rate hike.

The Swiss blue-chip index SMI (.SSMI: ) was indicated to fall
25 points to 6,448 points, premarket data provided by bank
Clariden Leu showed.(CLPRE: )

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

NOVARTIS (NOVN.VX: )

Some leukaemia patients may be effectively cured by taking
modern cancer pills such as Novartis’s Glivec, giving a small
minority of patients the option of discontinuing treatment,
French researchers said on Wednesday.

For related news, click on [NOVN.VX]

ECONOMY [M-CH]

* The strength of the Swiss franc represents a danger for
the Swiss economy, Aymo Brunetti, chief economist at the State
Secretariat for Economic Affairs (SECO), was quoted as saying on
Tuesday. [RTRS-CH-MCE-LEN]

COMPANY STATEMENTS [CNR-CH]

* Swiss hedge funds company Gottex (GFMN.S: ) said assets
jumped almost 7 percent to $7.8 billion in the third quarter as
investors wishing to maintain control of their cash poured money
into its managed account platform. [GFMN.S]

* Zurich Financial (ZURN.VX: ) said John Amore, Senior Advisor
and a member of the Group Executive Committee, would retire on
December 31. [ZURN.VX]

* Partners Group (PGHN.S: ) said it invested in China Vogue on
behalf of its clients. [PGHN.S]

* Kaba (KABN.S: ) said its shareholders approved all motions
proposed by Board of Directors. [KABN.S]

* Kardex (KARN.S: ) said it appointed Jens Fankh