Aug. 17 (Bloomberg) -- Swiss Life Holding AG, Switzerland’s biggest life insurer, said first-half profit rose to 403 million Swiss francs from 269 million francs ($503.9 million) a year earlier.
That compared with the 277.3 million-franc average estimate of 14 analysts surveyed by Bloomberg.
WHAT TO WATCH: *The Swiss government meets this morning in Sierre to discuss the strong franc *The government will decide today whether to bring forward a news briefing on the Swiss franc to this afternoon from Aug. 18 *Swiss Life holds a news conference at 9 a.m. in Zurich *Oerlikon holds a press conference at 10:30 a.m. in Zurich
EQUITIES: *OC Oerlikon reported net income of 83 million francs in the first half, compared with a net loss of 50 million francs a year earlier *Galenica said first-half earnings before interest and tax rose to 172.7 million francs *SGS said it acquired Acumax Proprietary Limited in South Africa *Looser reported first-half sales of 227.9 million francs *Logitech International SA’s orders will take until the end of the year to normalize, interim Chief Executive Officer Guerrino de Luca told Finanz & Wirtschaft *UBS hired Gregory Ketron from Citigroup and Stephen Scinicariello from Macquarie Group as New York-based analysts covering U.S. bank stocks
MARKETS: *The SMI rose 0.9 percent to 5,373.30 *The SPI advanced 0.6 percent to 4,897.38 *The Stoxx Europe 600 Index lost 0.1 percent to 237.12 *The MSCI Asia-Pacific Index rose 0.4 percent to 125.40 at 7:19 a.m. Zurich time *Euro-franc traded at 1.1523 at 7:19 a.m. Zurich time
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