Swisscom AG (SCMN) reported third-quarter net profit of 564 million Swiss francs compared with analysts’ estimates of 505.2 million.
The company confirmed its outlook, according to an e-mailed statement today.
EQUITIES: *Holcim said third-quarter profit fell to 356 million francs, missing the average 373.3 million-franc analyst estimate *Roche said the FDA accepted an application for its vismodegib drug for skin cancer *UBS Chairman Kaspar Villiger said last night at a University of Zurich event that the loss from unauthorized trading made him “angry” because risk-management hasn’t improved enough the last two years to prevent such an incident. The board won’t put itself under pressure to name a new chief executive officer although it doesn’t want to extend the search to an “eternity,” he said. *Ascom Holding is continuously checking the market for potential acquisitions and will likely announce an acquisition next year, Chief Executive Officer Fritz Mumenthaler was cited as saying in an interview with Finanz und Wirtschaft *PNE Wind sold its shares in a planned North Sea offshore project to a fund managed by Ventizz Capital Partners AG, a St. Gallen, Switzerland-based private equity company *Meyer Burger was cut to “underweight” from “neutral” at HSBC *Nobel Biocare was raised to “hold” from “sell” at Standard & Poor’s
ECONOMY/POLITICS: *Swiss government holds its regular meeting at 9 a.m. in Bern *European Union President Herman Van Rompuy meets Swiss President Micheline Calmy-Rey at 4:35 p.m. in Zurich with a press conference at 5:45 p.m.
MARKETS: *The benchmark SMI rose 0.7 percent to 5,682.65 *The SPI gained 0.6 percent to 5,175.45 *The Stoxx Europe 600 Index increased 0.9 percent to 240.50 *The MSCI Asia-Pacific Index gained 1.2 percent at 7:21 a.m. Zurich time *Euro-franc traded at 1.2387 at 7:21 a.m. Swiss time
To contact the editor responsible for this story: Amanda Jordan at firstname.lastname@example.org