Swiss Daybook: Holcim Misses Estimates; Swisscom, Panalpina
Holcim Ltd. (HOLN), the world’s second- largest cement maker, reported first-quarter profit that fell short of analysts’ estimates as raw-material costs climbed and governments postponed infrastructure projects.
EQUITIES: *Swisscom said first-quarter net income rose to 469 million Swiss francs from a restated 394 million francs a year earlier *Panalpina reported first-quarter profit of 34.9 million Swiss francs, exceeding analyst estimates of 26 million francs *Glencore International plans to sell shares at 480 pence to 580 pence apiece *Nibe Industrier CEO Gerteric Lindquist said he saw no regulatory obstacle to the company’s takeover bid for Schulthess *Actelion said it will appeal the final jury verdict in the Asahi Kasei litigation *Galenica said its U.S. partner Luitpold resumes Venofer shipments resume *Bank am Bellevue denied media reports it was the subject of a court injunction
WHAT TO WATCH: *Transocean publishes first-quarter results at 10:00 p.m. *Von Roll Holding holds annual general meeting at 10:30 a.m. in Regensdorf *Edisun Power Europe holds annual general meeting in Zurich
ECONOMY/POLITICS: *KOF publishes banking indicators at 11:30 a.m. *Switzerland’s government holds regular meeting
MARKETS: *The SMI fell 0.5 percent to 6,510.61 in Zurich *The SPI lost 0.3 percent to 6,004.14 *The Stoxx Europe 600 Index declined 0.5 percent to 282.43 *The MSCI Asia-Pacific Index fell 0.87 percent to 138.64 at 7:09 a.m. Zurich time *Euro-franc traded at 1.2780 at 7:10 a.m. Zurich time