Addex Pharmaceuticals Ltd (SIX: ADXN) announced today that it has observed efficacy in a model of Alzheimer's disease using a recently discovered orally-available drug-candidate. The proprietary molecule specifically inhibits a receptor subtype called the metabotropic glutamate receptor 2 (mGluR2) via negative allosteric modulation (NAM). An Addex mGluR2 NAM is scheduled to enter Phase I clinical testing in healthy volunteers during 2011. Link: Click Here

Helvetia Group: Sustainable growth and solid profit. In the first half of 2010, Helvetia Group increased its business volume by 6.4 per cent in currency-adjusted terms. With a profit of CHF 157 million, Helvetia repeated its success of the previous year. Helvetia summarises its strategic objectives for the coming years with the motto «To excel in growth, profitability and customer loyalty». Link: Click Here

Schmolz + Bickenbach has overcome the crisis with profits back in the black.  Net income improved significantly to EUR 4.4 million (EUR -149.0 million). Revenue reached EUR 1,477.4 million (EUR 1,054.2 million). Operating profit before depreciation and amortisation (EBITDA) was up by EUR 217.5 million on the previous year at EUR 102.3 million (EUR -115.2 million), with EBIT at EUR 49.2 million (EUR -166.5 million). Link: Click Here

The Tecan Group (SIX Swiss Exchange: TECN) today announced that the sale of REMP AG, a wholly owned subsidiary of Tecan, as well as other related assets, to NEXUS Biosystems has been completed as planned. From September 1, 2010, the Sample Management business segment will no longer be consolidated within the Tecan Group. It will be presented in the 2010 financial statements as a discontinued operation. Link: Click Here

Swisscom statement regarding speculations about Fastweb. Swisscom is aware of yesterday's movements in the price of Fastweb shares as well as speculations about a possible buyout of minorities, and would like to take this opportunity to reiterate its previous statement: Link: Click Here


 

Economy
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ISM manufacturing index unexpectedly gains in August. The ISM manufacturing index improved to 56.3 in August from 55.5 in July, above our (52.5) and consensus (52.7) expectations. A slight decrease in the new orders index to 53.1 from 53.5 was more than offset by increases in production (59.9 from 57.0) and employment (60.4 from 58.6). Link: Click Here

August survey data point to a moderation in global manufacturing activity, rather than a sharp slowdown. The key message from the August manufacturing PMIs is one of moderation, rather than a hard landing for the sector. A recent concern of financial markets has been that a slowing in activity-based indicators implied that the global economy was headed for a sharp slowdown. However, today's releases are not consistent with that view. Link: Click Here

US construction spending surprises on the downside, dragged down by falling housing activity. Construction spending in July fell 1.0%, below our (-0.2%) and consensus expectations (-0.5%). The weakness in the headline was driven by a large decline in residential construction (-2.5%) and a small decline in the nonresidential (-0.3%) component. Link: Click Here