ZURICH, June 8 |
ZURICH, June 8 (Reuters) - Swiss stocks were poised to open lower on Friday, as investors eyed lower Asian stocks as a cue to take profits after comments from U.S. Federal Reserve Chairman Ben Bernanke dented hopes for fresh near term U.S. stimulus measures.
Futures for the blue-chip SMI index fell 32 points to 5840 points by 0809 GMT.
The following are some of the main factors expected to affect Swiss stocks on Friday:
NOVARTIS
Novartis AG's unit Sandoz is voluntarily recalling ten lots of its generic Introvale birth control pills after a consumer recently reported a packaging flaw.
For related news, click on
LOGITECH
Logitech International, the world's largest computer mouse maker, said it will cut about 450 jobs, or 13 percent of its worldwide non-direct labor workforce, as part of a previously announced restructuring.
For more, click on
COMPANY STATEMENTS
* Zehnder Group plans to expand its Group Executive Committee with Dominik Berchtold as Deputy Chairman of the Group Executive Committee from January 1 as part of succession planning. Berchtold will replace Hans-Peter Zehnder as Chairman of the body in the second half of 2014.
* The World Council of Churches signed a contract with Implenia for the development of its plot in Grand-Saconnex, Geneva, including a new Ecumenical Centre. The development of the 34,000 square metre site will take place in several phases over the next five to ten years.
* Kudelski said SmarDTV has combined CI Plus and HbbTV to enable video-on-demand for cable networks. SmarDTV intends to launch the first CI Plus SmarCAM with Cable voice on demand this year.
ECONOMY
List2u's New Global Business and SEO Services - PR.com
As a leading Internet company, List2u implements unique SEO tactics that allow websites of clients to acquire the leading position in top search engines. Over the past decade, List2u has learned what works and what does not when it comes to having an effective online presence. List2u also know it does not have to cost you a fortune to Build Traffic to a website, as some Internet marketing companies would like you to believe. That is why List2u is now providing to all businesses the most cost effective B2B online Branding Service available.
List2u's Corporate Branding Solutions, Strategic Branding, Brand Identity, Brand Building and Online Branding Service and White Hat SEO (also known as natural search engine optimization or organic search engine optimizations the legitimate use of keyword-focused copy and tags, Crawler-friendly site architecture, Search Engine Submissions and a quality Back links network to improve a site's Position, Page Rank and Click-Through Rate) makes List2u.com one of the elite Branding Experts and SEO Specialist online.
List2u's Premier Branding Solutions package includes the following services: SEO and SEM Strategies, SEO Marketing, Product Branding or Business Branding, SEM Services, Meta Tag content including Keyword and Description content, Content Writing, Organic Search Engine Submissions, Natural Bookmarking Submissions, Directory Indexing, Social Networking Submissions, 4 Press Releases per month, Position Rank and Reporting, Link Exchange including Back Links, Search Engine Placement and Monthly Search engine positions and ranking reports.
About List2u LLC
List2u, since 1999, has been the Global Database Provider of to Business Lists (B2B Lists), Business Technology Lists (B2B Technology Lists), Brand Marketing, SEO Services, Internet Marketing and is currently building an Eco Business Marketplace for businesses called Green B2B Solutions (GreenB2BSolutions) that target eco friendly business services, products and practices.
Our goal is to help companies looking for new prospects expand their outreach, gain new business, keep their current customers, reach the decision makers and make sales by providing targeted Email Lists, Business Lists, Business Technology Lists, Business Services and Data Append Services.
List2u can help you with Email marketing campaigns, Direct Mail campaigns, Telemarketing campaigns, SEO, Corporate Branding and Data Append to your Email, Postal or Phone Databases too keep your brand in front of your clients.
Mile5 Solutions Partners with Winshuttle™ to Offer Easy and Secure Business Process Automation Solutions to the SAP® Market - YAHOO!
[getrss.in: unable to retrieve full-text content]
Winshuttle today announced a Premier Partnership agreement with Mile5 Solutions, an SAP channel partner. Mile5 Solutions is a provider of affordable, manageable, fully integrated, and fixed price SAP ERP solutions to small and medium enterprise (SME ...STOCKS NEWS SINGAPORE-Index falls, dragged by Genting S'pore - Reuters UK
Singapore shares fell on Friday, dragged by casino operator Genting Singapore which retreated to an eight-month low on concerns it may get enmeshed in a costly takeover battle for Australia's Echo Entertainment Group.
The Straits Times Index was down 0.7 percent at 2,739.41 points, while MSCI's broadest index of Asia-Pacific shares outside Japan slipped 1.3 percent.
Markets tumbled after Federal Reserve Chairman Ben Bernanke disappointed investors looking for a clear signal of further U.S. monetary stimulus, overshadowing an initial positive reaction on global bourses to a Chinese interest rate cut.
Genting shares dropped as much as 3.3 percent to S$1.45, the weakest since Oct 5 last year, on concerns that the firm may overpay for an acquisition. Traders also said there are worries about the growth rate and regulatory risks in Australia's casino market.
Other decliners on Friday included palm oil firm Golden Agri Resources, which fell 4 percent, and property, food and beverage conglomerate Fraser and Neave Ltd, which gave up 2 percent.
1432 (0632 GMT)
(Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)
************************************************************
STOCKS NEWS SINGAPORE-Valuations not expensive-Citigroup
Citigroup said the Straits Times Index is currently at a forward price-earnings ratio of 13.5 times, near the normal support level of 13.0 times, while based on trailing price-to-book, the STI is trading at 1.25 times.
"These valuation levels are unfairly pricing in a mild recessionary outlook, given our GDP expectations of 3.6 percent this year," Citi said.
On Friday, the STI was down 0.5 percent at 2,745.49 points. The index has fallen 9.6 percent from its year-high of 3,035.78 in March, paring year-to-date gains to 3.7 percent, as investors worried by Europe's debt crisis and slowing global growth flee riskier assets.
But Citi said the near-term upside for the STI is more moderate due to concerns about China and the euro zone, ongoing wage and economic restructuring in Singapore, as well as issues over the city-state's ability to grow through immigration.
With the STI reaching similar lows as in the fourth quarter of 2011, Citi reiterated that there are opportunities in stocks like Keppel Corp, Hongkong Land Holdings, Oversea-Chinese Banking Corp and Noble Group .
In the small and mid-cap space, Citi likes STX OSV Holdings and Venture Corp.
It advised trimming stocks such as COSCO Corp Singapore , Tiger Airways Holdings and Singapore Exchange.
It also said commodity and commodity-related stocks have been "extremely weak", dampened by elevated costs and price turbulence across the segment, with some valuations already reaching similar levels to those seen during the global financial crisis.
1156 (0356 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) (Editing by Eric Meijer)
No comments:
Post a Comment