SWISS DAYBOOK: UBS Said Capital Requirements Should Be Set Lower
UBS AG, Switzerland’s biggest bank, said capital requirements for the country’s largest banks should be set at a lower level than proposed by the government until it’s clear what regulators elsewhere demand of their lenders.
WHAT TO WATCH: *Swiss central bank Governing Board Member Jean-Pierre Danthine speaks at 6:00 p.m. at the SNB Geldmarktapero in Zurich *Baselworld watch fair in Basel
EQUITIES: *Credit Suisse: “well positioned to succeed” in annual report, asks for approval of conditional capital; CEO Dougan gets 12.8 million francs in total compensation *Swiss Re awarded executive board SF40.3m in 2010; nominates Renato Fassbind to board *Dufry 2010 net earnings increased 49 percent to 144.8 million *Gottex fee-earning assets rose to $8.49 billion at end of February from $8.26 billion two months earlier *Bucher buys Krause in U.S., company with revenue of $61 million *Komax cut to ‘hold’ at Bank Vontobel
MARKETS: *The SMI gained 0.5 percent to close at 6,256.06 *The SPI added 0.5 percent to 5,690.02 *The Stoxx Europe 600 Index climbed 0.5 percent to 273.11 *The MSCI Asia-Pacific Index rose 0.2 percent to 132.99 as at 7:57 a.m. in Zurich *Euro -- Franc at 1.2813 as t 7:58 a.m. in Zurich
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