SWISS DAYBOOK: Credit Suisse, EFG International, Roche, Bossard
Zurich’s cantonal high court ruled on Oct. 1 that Credit Suisse Group AG (CSGN) must give two clients, who argue the bank lost almost 1 million Swiss francs ($1.1 million) of their investments because of unauthorized risky options trading, insight into their client data, Tages-Anzeiger reported, citing Oliver Gnehm, the clients’ lawyer.
EQUITIES: *EFG International said it’ll cut staffing levels by 10 percent to 15 percent as assets under management will drop 10 percent under a strategy review *Roche Holding said the phase III HannaH study demonstrated comparable efficacy of a new investigational subcutaneous formulation of Herceptin to the standard intravenous infusion of Herceptin in women with HER2-positive early breast cancer, according to a statement today *A Credit Suisse unit was sued over securitized mortgage loans for which Assured Guaranty Ltd. guaranteed payments to investors and that the bond insurer says were riskier than promised *Bossard Holding said third-quarter revenue fell 8.5 percent to 109.3 million Swiss francs ($122 million) *Micronas Semiconductor Holding said third-quarter sales were 35.5 million Swiss francs *Lifewatch said it signed an agreement for a joint venture with Magnacare.
MARKETS: *The benchmark SMI declined 0.7 percent to 5,723.41 *The SPI fell 0.7 percent to 5,180.62 *The Stoxx Europe 600 Index lost 1 percent to 236.22 *The MSCI Asia-Pacific Index fell 2.2 percent at 7:33 a.m. Zurich time *Euro-franc traded at 1.23535 at 7:34 a.m. Swiss time
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