Forbo, Galenica, Lonza, Novartis, 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 (SMI) of the biggest and most actively traded companies dropped 1.3 percent to 6,274.47 in Zurich. The broader Swiss Performance Index lost 1.2 percent to 5,696.11.
Forbo Holding AG (FORN) : The world’s largest linoleum maker said its full-year net income more than doubled to 163.3 million Swiss francs ($176.7 million). The shares dropped 0.7 percent to 623 francs.
Galenica AG (GALN) : The Bern-based drugmaker said net profit gained 11 percent to 232.1 million francs. The shares lost 0.2 percent to 529 francs.
Huber & Suhner AG (HUBN) : The world’s biggest maker of connection cables’ full-year net income rose 63 percent to 79 million francs, the company said in a statement on its website. The shares plunged 2.8 percent to 60.90 francs.
Lindt & Spruengli AG (LISN) : The chocolate maker’s full- year net income of 241.9 million francs fell short of the average estimate of 245.5 million francs by analysts surveyed by Bloomberg News. The company sees 6-8 percent organic growth in 2011 and will buy back 310 million francs of shares, Lindt & Spruengli said. The shares fell 0.6 percent to 27,850 francs.
Lonza Group AG (LONN) : The world’s biggest maker of chemicals for drug companies signed a commercial manufacturing deal with Enobia. The shares slid 0.8 percent to 75 francs.
Novartis AG (NOVN) : The Basel, Switzerland-based company’s experimental drug INC424 met the main goal in a late- stage clinical trial of patients with myelofibrosis, the company said. Novartis plans to seek regulatory approval of the drug worldwide beginning in the second quarter. The shares declined 1.6 percent to 49.95 francs.
Swisscom AG (SCMN) : The telecommunications company said it now owns 98.2 percent of the shares in FastWeb SpA and that it will buy the remaining stock in the market when the company is delisted. The shares decreased 1.2 percent to 402.30 francs.
UBS AG (UBSN) : Switzerland’s largest bank said it is “confident” of being able to “consolidate the progress already made throughout the firm” in 2011 and that the outlook for the global wealth market is positive. The bank said a profit adjustment raised per-share profit by 10 centimes.
Still, “markets are difficult,” UBS Chairman Kaspar Villiger was quoted as saying in the Aargauer Zeitung.
Shares in UBS tumbled 1.5 percent to 17.07 francs.
To contact the reporter on this story: Giles Broom in Zurich at firstname.lastname@example.org.
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