SWISS DAYBOOK: Roche Sales Drop, Baer Partnership, Credit Suisse
Sales dropped to 9.82 billion francs ($11 billion) from 11.5 billion francs a year earlier, the Basel, Switzerland-based company said in an e-mailed statement today. That missed the 10.2 billion-franc average estimate of 15 analysts surveyed by Bloomberg. Roche doesn’t release quarterly earnings.
EQUITIES: *Julius Baer Group Ltd. (BAER) said it entered a strategic collaboration agreement with Macquarie Group Ltd., according to an e-mailed statement today *Julius Baer has made a non-binding bid to buy Bank Sarasin, Handelszeitung reported, citing an unidentified Zurich-based investment banker *Raiffeisen group may also make a bid for Sarasin, Tages- Anzeiger said *SIX Exchange Regulation said it’s starting an investigation against Credit Suisse Group AG (CSGN) on the grounds of possible breaches of the rules governing the disclosure of management transactions *Xstrata is seeking a $5 billion loan to refinance a deal maturing next year, said two people familiar with the situation
ECONOMICS/POLITICS *The Swiss People’s Party could win the Oct. 23 elections with 29.3 percent of the vote, a poll showed *Producer and import price data at 9:15 a.m.
MARKETS: *The SMI climbed 0.9 percent to 5,781.13 *The SPI rose 0.9 percent to 5,227.36 *The Stoxx Europe 600 Index increased 1.7 percent to 239.16 *The MSCI Asia-Pacific Index rose 1.4 percent at 07:21 a.m. Zurich time *Euro-franc traded at 1.23723 at 07:22 a.m. Zurich time
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