Swisslog, Vontobel, UBS, Zurich Financial: 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 gained 4.4 percent to 5,252.81. The broader Swiss Performance Index rose 4.3 percent to 4,796.12.
Kardex AG (KARN) : Adriano Agosti, who has been building his stake in the Swiss provider of static-storage systems, proposed that the company scrap plans for a capital increase and instead merge with Swisslog Holding AG (SLOG) , Finanz und Wirtschaft reported, citing a letter to the board it obtained. Kardex shares jumped 9.9 percent to 16.7 francs.
Vontobel Holding AG (VONN) : The Swiss bank and brokerage that specializes in derivatives welcomes Switzerland’s tax agreement with Germany to end a dispute over tax evasion by wealthy Germans holding cross-border accounts, Finanz und Wirtschaft reported, citing an interview with Chief Executive Officer Zeno Staub. The shares rose 5.6 percent to 24.45 francs.
UBS AG (UBSN) : Patrick Odier, head of the Swiss Banking Association, told SonntagsZeitung in an interview published on Aug. 14 that the implementation of the Swiss-German tax treaty may cost lenders about 500 million francs ($648 million). The shares rose 5.7 percent to 11.67 francs. Credit Suisse Group AG (CSGN) shares advanced 4.4 percent to 23.6 francs.
Zurich Financial Services AG (ZURN) : Switzerland’s largest insurer will retain its Italian and Spanish bond holdings, Finanz und Wirtschaft reported, citing an interview with Chief Executive Officer Martin Senn. The shares advanced 7.1 percent to 171.5 francs.
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