UBS AG’s directors will meet in Singapore, home to the Swiss bank’s biggest shareholder, today to discuss the lender’s strategy and review the $2.3 billion loss from unauthorized trading. The regular meeting was scheduled before the loss emerged.
EQUITIES: *Roche holds investor day in London *Zuercher Kantonalbank said it may be the subject of an investigation by U.S. authorities *Basler Kantonalbank names Dominik Galliker head of private banking
ECONOMY/GOVERNMENT: *Swiss parliament session in Bern *Swiss and German governments to sign tax agreement at 4:30 p.m. *SNB publishes monthly statistical bulletin at 9 a.m.
MARKETS: *The SMI rose 2.1 percent to 5,471.40 *The SPI gained 1.9 percent to 4,987.21 *The Stoxx Europe 600 Index climbed 1.8 percent to 229.10 *The MSCI Asia-Pacific Index was up 0.4 percent at 7:53 a.m. Zurich time *Euro-franc traded at 1.2247 at 7:54 a.m. Zurich time