Swiss Daybook: UBS, Credit Suisse Capital, Synthes and Kuoni
The Swiss government today will publish its proposal on stricter capital rules for UBS and Credit Suisse Group, following a report by an expert group last year.
EQUITIES: *Gottex Fund Management said fee-earning assets rose 4.6 percent to $8.6 billion on March 31 *Wyss may replace Bertarelli as richest Swiss man in Synthes sale *L’Oreal heiress wants to stay on board, Le Figaro reports *Roche Holding won U.S. approval for a diagnostic test to detect the human papillomavirus virus linked to cervical cancer *Kuoni Holding’s tour operating bookings as of April 17 were 1 percent lower than a year ago in local currencies *Aryzta said a Zurich court ruled in the company’s favor and dismissed the case over a 2008 merger brought forward by Peter J. Lehner & Partner *GAM will start a new share buy-back *Temenos Group said revenue rose 10 percent in first quarter *Nuclear power plant operator BKW FMB Energie to review corporate strategy *Zurich Financial Services’s Paul Hopkins to retire, to be replaced by Mike Foley and Axel Lehmann *Schulthess Group said Nibe’s offer will start May 9 and close June 6 *Von Roll Holding said first-quarter sales rose 9 percent to 156 million Swiss francs at constant FX *Inficon Holding said first-quarter sales increased 36 percent to $82 million
WHAT TO WATCH: *Swiss government to publish Too-Big-to-Fail proposals after meeting in Bern *Swisscom holds annual general meeting at 2:30 p.m. in Zurich *Kuoni Reisen holds annual general meeting at 10 a.m. in Zurich
ECONOMY/POLITICS: *EU’s Barroso travels to CERN in Geneva
MARKETS: *The SMI rose 1.3 percent to 6,326.65 *The SPI rose 1.2 percent to 5,817.71 *The Stoxx Europe 600 Index rose 0.5 percent to 274.42 *The MSCI Asia-Pacific Index rose 1.3 percent to 135.95 at 7:02 a.m. Zurich time *Euro-franc traded at 1.29250 at 7:04 a.m. Zurich time