Swiss Daybook: Nestle, Syngenta Beat Estimates, Swiss Re AGM
Stock Chart for Nestle SA (NESN)
Nestle SA (NESN), the world’s largest food company, reported first-quarter organic sales growth of 6.4 percent. Analysts expected 5.9 percent, according to the average of 17 estimates.
WHAT TO WATCH: *Glencore International AG’s initial public offering prospectus may be filed in early May, CNBC reported, without citing anyone. *Nestle SA holds investor call at 8:30 a.m.
EQUITIES: *Nestle SA said first-quarter organic sales rose 6.4 percent; company expects pricing to tick up during the year and confirmed the outlook for the full year *Syngenta AG (SYNN) said first-quarter sales were 4.02 billion dollars, compared with analysts’ estimates of 3.92 billion. *Swiss Reinsurance Co. holds annual general meeting at 10:00 a.m. *Orascom Development Holding AG (ODHN) said 2010 consolidated revenues dropped 12 percent to 516.1 million Swiss francs from 586.1 million francs in the previous year, net income after minorities at 94.9 million francs compared with 106.5 million; company will hold a press conference at 2:00 p.m. in Zurich *Valora Holding AG (VALN) holds shareholder meeting at 3:00 p.m. in Basel *Bucher Industries AG (BUCN) said shareholders approve all proposals at annual general meeting *Sonova Holding AG (SOON) sees advanced bionics resuming business in next few weeks
MARKETS: *The SMI fell 0.1 percent to close at 6357.03 *The SPI declined 0.1 percent to close at 5799.70 *The Stoxx Europe 600 Index fell 0.5 percent to 277.01 *The MSCI Asia-Pacific Index fell 0.6 percent to 135.69 at 7:23 a.m. *Euro-franc traded at 1.2934 at 7:21 a.m. Zurich time
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