Swiss Daybook: Richemont, Landis+Gyr Takeover, Roche and UBS
Toshiba Corp., Japan’s biggest maker of nuclear reactors, agreed to buy Swiss electronic-metering company Landis+Gyr AG for $2.3 billion to bolster its smart-grid operations.
EQUITIES: *Cie Financiere Richemont reported full-year net income of 1.09 billion euros; the company extended its share buyback program and said sales in April were 32 percent above last year *Roche drug Tandem extends life of some lung-cancer patients *UBS Canada fires wealth head Rasmussen, Sivarajan, Harris *Glencore IPO to raise $10 billion as investors defy market rout *Evolva Holding shareholders approved the company’s acquisition of Abunda Nutrition
WHAT TO WATCH: *Swiss Economic Forum 2011 in Interlaken *Myriad Group holds its annual general meeting
ECONOMY: *Credit Suisse publishes survey results on investor confidence *SNB updates data on its website according to IMF standards
MARKETS: *The SMI climbed 0.6 percent to 6,535.24 *The SPI gained 0.6 percent to 6,012.85 *The Stoxx Europe 600 Index rose 0.3 percent to 278.17 *The MSCI Asia-Pacific Index dropped 0.3 percent to 134.76 at 7:50 a.m. Zurich time *Euro-franc traded at 1.2551 at 7:17 a.m. Zurich time
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