Credit Suisse, Julius Baer, Kuoni, UBS: Swiss Equity Preview
The following is a list of companies whose shares may have unusual price changes in Zurich. Stock symbols are in parentheses after company names. Share prices are from the last close.
The Swiss Market Index (SMI) of the biggest and most actively traded companies dropped 1 percent to 6,530.54 in Zurich. The broader Swiss Performance Index declined 0.8 percent to 5,916.78.
Credit Suisse Group AG (CSGN) : A Credit Suisse banker who passed a compact disc with client data to German authorities through a middle-man continued to spy for them on the Swiss bank, Tages-Anzeiger reported, citing documents obtained by German tax authorities. The shares fell 2.7 percent to 40.92 Swiss francs.
Julius Baer Group Ltd. (BAER) : The Board of Directors of the 121-year-old wealth manager will propose to the general meeting on April 7 to fully charge the proposed 2010 distribution of 60 centimes per registered share to the new balance sheet item “share premium reserve.” Baer lost 1.4 percent to 41 francs.
Kaba Holding AG (KABN) : The maker of electronic security systems said first-half net income rose 3.9 percent to 44.9 million francs ($48.5 million). The shares increased 0.5 percent to 393.50 francs.
Kuoni Reisen Holding AG (KUNN) : Kuoni said it agreed to purchase Gullivers Travel Associates Ltd. for $720 million from Travelport to expand its online services. Shares in Kuoni advanced 2.7 percent to 432.75 francs.
Nestle SA (NESN) : The world’s largest food company has strong enough brands to compete in the U.S. single-serve coffee market without making acquisitions, Chief Executive Officer Paul Bulcke said. The shares declined 1.6 percent to 51.95 francs.
Straumann Holding AG (STMN) : The Basel, Switzerland- based company said its bone level dental implant has received approval from the Ministry of Health, Labor and Welfare in Japan and will become available there on March 22. The shares dropped 1 percent to 225.80 francs.
UBS AG (UBSN) : Switzerland’s largest bank’s Chief Executive Officer Oswald Gruebel could sell stock options worth 31 million francs at the end of May, Der Sonntag reported, without saying how it calculated the figures. The shares fell 2.8 percent to 17.96 francs.
Weatherford International Ltd. (WFT) : The Geneva-based oil services company will be included in the SLI Swiss Leader Index after the close of trading on March 18, SIX Swiss Exchange Ltd. said today. Weatherford did not meet requirements on order book turnover and average market capitalization for inclusion in the SMI Swiss Market Index, SIX said. The shares lost 1 percent to 19.40 francs.
Weatherford will replace Petroplus Holdings AG (PPHN) in the SLI. Shares in Petroplus gained 2.1 percent to 15.04 francs.
To contact the reporter on this story: Giles Broom in Zurich at email@example.com.