Credit Suisse, Kuoni, Sulzer, Zurich, UBS: Swiss Equity Preview
The following is a list of companies whose shares may have unusual price changes in Zurich. Stock symbols are in parentheses after company names. Share prices are from the last close.
The Swiss Market Index of the biggest and most actively traded companies rose 0.8 percent to 6,665.22 in Zurich.
AFG Arbonia-Forster Holding AG (AFGN SW): The maker of heaters, windows, doors and refrigeration systems will name a new chief executive officer by March 8, Neue Zuercher Zeitung reported, citing the company’s chairman and current CEO Edgar Oehler. The stock rose 1.7 percent to 35.50 Swiss francs.
Credit Suisse Group AG (CSGN VX): Switzerland’s second- biggest bank said it was issuing about 6 billion francs ($6.17 billion) of contingent capital to satisfy higher capital requirements in Switzerland to Qatar Holding LLC and Olayan Group.
The shares lost 1.2 percent to 41.60 francs.
Kuoni Reisen Holding AG (KUNN SW): The travel company’s 2010 sales probably rose to about 4 billion Swiss francs, CEO Peter Rothwell told SonntagsZeitung. The stock fell 0.3 percent to 445 francs.
Sulzer AG (SUN SW): The world’s second-largest maker of pumps is starting negotiations as it considers acquisitions to expand in pumps and surface treatments, CEO Ton Buechner told Le Temps. Sulzer would prefer takeovers of companies worth 200 million Swiss francs to 500 million francs to expand in emerging markets, the newspaper cited the CEO as saying in an interview. The stock rose 1.8 percent to 136.9 francs.
Swisscom AG (SCMN VX): Switzerland’s biggest telecommunications company said it’s discussing the timing of Anton Scherrer’s departure as chairman and his replacement by Hansueli Loosli. The move was planned for April 2011. Swisscom shares added 0.4 percent to 430.90 francs.
UBS AG (UBSN VX): Switzerland’s largest bank said Sally Bott, the board member who decided not to stand for re-election, resigned with immediate effect to take a position at another company. Helmut Panke will act at interim chairman of the human resources and compensation committee after her departure.
Separately, UBS aims to double the workforce at its China operations to as many as 1,200 people over the next five years, said the co-head of the company’s Asia-Pacific unit. The shares increased 0.1 percent to 18.42 francs.
Zurich Financial Services Ltd. (ZURN VX): The insurer is confident it could raise funds for an acquisition on the capital markets should the need arise, Finanz & Wirtschaft reported, citing Chief Executive Officer Martin Senn. The stock rose 1.3 percent to 267.9 francs.
To contact the reporter on this story: Giles Broom in Zurich at email@example.com.