ABB, Richemont, Julius Baer, Novartis, Syngenta: Swiss Equities Preview
The following is a list of companies whose shares may have unusual price changes in Zurich. Stock symbols are in parentheses. Share prices are from the last close.
ABB Ltd. (ABBN VX): The world’s largest builder of electricity networks said it completed the acquisition of Ventyx in an all-cash transaction valued at more than $1 billion. The shares retreated 0.1 percent to 19.79 Swiss francs.
Compagnie Financiere Richemont SA (CFR VX): The world’s largest jewelry maker said it completed its acquisition of Net- A-Porter Ltd., and has a stake of more than 93 per cent in the company. Richemont shares dropped 1.1 percent to 37.89 francs.
Julius Baer Group Ltd. (BAER VX): The 120-year-old private bank is targeting assets under management of about 45 billion Swiss francs ($38.9 billion) from its Asian business in the next four to five years, Finanz & Wirtschaft reported, citing Tom Meier, the bank’s chief executive officer for Asia and the Middle East, in an interview. The stock declined 0.1 percent to 33.56 francs.
Novartis AG (NOVN VX): The drugmaker said sales of its Tasigna leukemia treatment have risen at a faster pace in recent months as more patients switch from the company’s Gleevec medicine. The shares lost 0.3 percent to 52.35 francs.
Syngenta AG (SYNN VX): The world’s biggest maker of agricultural chemicals was raised to “outperform” from “neutral” at Credit Suisse Group AG. The stock gained 0.7 percent to 258.5 francs.
Vetropack Holding AG (VET SW): Switzerland’s only listed bottle maker expects profit to fall this year as prices decline, Finanz & Wirtschaft said, citing an interview with Chief Executive Officer Claude Cornaz. The shares declined 1.7 percent to 1,769 francs.