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ZURICH, June 30 (Reuters) – The Swiss blue-chip SMI was seen opening 0.2 percent higher at 7,992 points on Thursday, according to premarket indications by bank Julius Baer .
The following are some of the main factors expected to affect Swiss stocks:
CREDIT SUISSE
Credit Suisse is planning to boost its stake in its Chinese securities joint venture to the maximum permissible 49 percent, which would make it the first foreign bank to take advantage of relaxed Chinese investment rules introduced four years ago, three people with direct knowledge of the matter said.
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VONTOBEL
The Swiss bank said it plans to buy Vescore Ltd, the asset management subsidiary of Swiss cooperative lender Raiffeisen, a deal it hopes will boost its presence in Switzerland and its institutional business in Germany.
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SWISS POLITICS
Switzerland and the European Union have to find a compromise on how to act on a Swiss referendum to limit immigration without breaching bilateral treaties with the EU, European Parliament President Martin Schulz said in a TV interview on Wednesday.
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FINOX HOLDING
Hungarian drug maker Richter has acquired Swiss-based biotech company Finox Holding for 190 million Swiss francs ($193.86 million), expanding its presence in major European markets.
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COMPANY STATEMENTS
* Novartis said The New England Journal of Medicine published data for PKC412 (midostaurin) demonstrating an overall response rate, defined as a major or partial response, of 60 percent in patients with advanced systemic mastocytosis.
* Investis Holding SA said it had priced its initial public offering at 53 Swiss francs per share and will list on the Six Swiss Exchange. The company will raise gross proceeds of 148.4 million francs.
* Alpiq said it finalised the sale of its stake in AEK Energie AG to BKW.
* Logitech International said its board of directors will ask shareholders to approve the election to the board of Patrick Aebischer, president of the École polytechnique fédérale de Lausanne. The election will take place at Logitech’s annual general meeting in Lausanne on Sept. 7.
* SFS said Ruedi Huber has informed the board of directors of his intention not to stand for re-election as a representative of the Huber family shareholders at the next annual general meeting in 2017.
* Ypsomed Holding AG said shareholders approved all proposals from its board of directors by at the company’s regular general meeting held on 29 June.
ECONOMY
* Switzerland’s KOF leading indicator for June due at 0700 GMT.
Reporting by Zurich newsroom
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