Swiss stocks - Factors to watch on May 15
Swiss stocks are expected to open a touch firmer on Wednesday, with improving macroeconomic conditions in the United States improving sentiment.
_0">The Swiss blue-chip index was predicted to open up 0.1 percent at 8,196 points according to premarket indications from bank Julius Baer.
The following are some of the main factors expected to affect Swiss stocks:
JULIUS BAER
Swiss private bank Julius Baer said net new client money could skim the lower end of its 2013 target of 4 to 6 percent growth, as European crackdowns on undeclared funds held in Switzerland spur withdrawals.
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ROCHE
U.S. health regulators on Tuesday approved a test developed by Roche for a specific gene mutation present in about 10 percent of non-small cell lung cancers, and said the company's drug Tarceva could be used as an initial treatment in patients with the mutation whose cancer has spread beyond the lungs.
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UBS
Robert W. Baird & Co said it hired two teams of veteran financial advisers from Morgan Stanley Wealth Management and UBS Wealth Management Americas, which together managed about $800 million in client assets, to expand Baird's adviser footprint in the United States.
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SWISS BANKS
_0">European Union finance ministers gave the green light on Tuesday to start talks with Switzerland and Liechtenstein about surrendering bank data, as Europe stepped up its fight against tax evasion.
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_2"> _3">COMPANY STATEMENTS
_4">* Roche said it will present data from clinical trials of several investigational and approved cancer medicines at the American Society of Clinical Oncology, or ASCO, beginning May 31 in more than 275 abstracts.
_5">* Partners Group said it exited its investment in Cabot Credit Management to an affiliate of J.C. Flowers & Co.
_6">* Tornos said existing shareholders will be entitled to two new registered shares for every seven existing registered shares in its 30 million Swiss franc capital increase.
_7">* A Schmolz+Bickenbach AG subsidiary has written to the board of its parent company, in conjunction with Renova Holding Ltd asking to include a proposal for a two-stage capital increase on the agenda of the shareholder meeting.
_8">* Hitachi Kokusai Electric Inc has completed a collaboration with u-blox to develop a custom wireless module solution targeted at industrial and emergency alert networks throughout Japan.
_9">* Meyer Burger company AIS Automation continues its strategic cooperation with Aixtron SE, a supplier of deposition systems.
_10">* Innovative Packaging Solutions AG expects gross proceeds from its capital increase of 18.4 million Sfr
_11"> _12">ECONOMY
_13">* Swiss producer/import price data due at 0715 GMT
_14">* Swiss ZEW investor sentiment due at 0900 GMT
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