SWISS DAYBOOK: Baloise, Meyer Burger, Tax Treaty, SNB
Baloise (BALN) Holding reported 2011 profit of 60.8 million Swiss francs, missing estimates. Meyer Burger (MBTN) said full-year profit dropped 63 percent to 35.8 million francs. SNB’s Jean-Pierre speaks this evening.
WHAT TO WATCH (ALL TIMES CET): -- SNB’s Jean-Pierre Danthine speaks at 6pm -- Baloise holds earnings news conference in Basel at 9:30am -- Meyer Burger holds press briefing in Zurich at 9:15am -- Huber & Suhner holds briefing in Zurich at 10am -- Evolva holds briefing in Zurich at 4pm -- Givaudan holds annual meeting
EARNINGS: -- Meyer Burger (MBTN SW) said full-year profit dropped to SF35.8m from SF97.9m a year earlier -- Baloise (BALN VX) said 2011 net income was SF60.8m, lower than the SF75.2 mln estimated by analysts -- Evolva (EVE SW) reported reported full-year revenue of SF11.1m and said it sees a net loss of SF21m to SF23m in 2012 -- Huber & Suhner (HUBN) said 2011 earnings before interest and tax was SF66.1m and added it will propose a dividend of SF0.95 per share, down from SF1.50 the previous year
ECONOMY/GOVERNMENT: -- Swiss government publishes foreign trade data at 8am -- Switzerland and Germany are about to sign a revised version of a treaty on old untaxed assets that was struck last year, Handelszeitung reported
CENTRAL BANK: -- Swiss central bank Governing Board member Jean-Pierre Danthine and Enlarged Governing Board member Dewet Moser make speeches at 6pm at the SNB Money Market Event in Zurich.
EQUITY PREVIEW: -- Watson said to be in talks to buy Swiss drugmaker Actavis -- Chevron (CVX)(CVX US), Transocean (RIG)(RIG US) and 17 of the companies’ executives were accused by Brazilian federal prosecutors of environmental crimes in an oil leak off Rio de Janeiro’s coast. Prosecutors are asking each company to pay 10 million reais ($5.5 million) and demanding 1 million reais from each executive for damage to the environment -- Addex Pharmaceuticals (ADXN)(ADXN SW) said its experimental treatment for Parkinson’s disease reduced symptoms and was safe in a mid-stage patient study -- Alpiq (ALPH SW) said it sold Energiakolmio as part of its restructuring -- Male-pattern baldness may be caused by a protein in the scalp, according to research that raises the possibility drugs being tested by Merck (MRK)(MRK US) and Actelion (ATLN)(ATLN VX) for other uses might prevent hair loss -- Syngenta (SYNN VX) reported a successful $750m bond issue and said it received approval for quadruple stack corn in Argentina -- Acino (ACIN SW) said it is broadening its product range with the addition of a leading iron therapy product
MARKETS: -- The benchmark SMI fell 0.1% to 6,290.00 -- The SPI declined 0.1% to 5,767.26 -- The Stoxx Europe 600 Index fell 0.1% to 268.67 -- The MSCI Asia-Pacific Index gained 0.4% by 7:07am -- Euro-Franc traded at 1.2056 at 7:07am
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