SWITZERLAND DAYBOOK: Syngenta Beats Estimates, Plans Buyback
Syngenta AG, the world’s largest maker of agricultural chemicals, reported annual profit that beat analysts’ estimates and pledged to return $850 million in cash to shareholders.
Net income was $1.4 billion, little changed from a year earlier, the Basel, Switzerland-based company said in an e- mailed statement today. Analysts had predicted $1.31 billion. Sales advanced 6 percent to $11.6 billion.
WHAT TO WATCH: *Syngenta holds earnings call at 9:15 a.m. Zurich time
EQUITIES: *UBS units resolve allegations that they failed to disclose risks of auction rate securities, Attorney Dow Says *Transocean expects to pay $750 million dividend *Holcim cut to ‘Underweight’ at HSBC *Williams Grand Prix initial public offering values company at 265 million euros *Orell Fuessli full-year sales increase *Walter Meier acquires Danish distribution partner
ECONOMY/POLITICS: *Government to publish bond auction results *No Government Meeting
MARKETS: *The SMI gained 0.4 percent to close at 6,638.66 *The SPI rose 0.4 percent to close at 5,964.91 *The Stoxx Europe 600 Index fell 0.1% to 288.56 *Euro -- Franc at 1.3144 at 7:37 a.m. Zurich time
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