Zurich Market Talk - 25-10-2011
25.10.11 08:15

UBS delivered a pre-tax profit of CHF 1 billion despite a trading income loss of CHF 1.8 billion resulting from the unauthorized trading incident reported in  September and significant volatility in global financial markets. Our wealth management businesses recorded combined net new money broadly in line with the prior quarter. An improvement in our BIS tier 1 ratio to 18.4% and an increase in our BIS tier 1 capital to CHF 38.1 billion both underlined our position as one of the world's best capitalized banks. Link: Click Here

GAM: The Group reported assets under management of CHF 106.4 billion[1] as at 30 September 2011, a decline of 6% compared to 30 June 2011. The reduction resulted from negative market movements, which were only partially offset by the positive currency effect of the weakening Swiss franc following the Swiss National Bank's intervention during the quarter. Link: Click Here

Change on the Nationale Suisse Executive Board. With effect from 1 January 2012, Sven Cattelan, currently a member of the Executive Board of Nationale Suisse and Head of the Customer Service & Non-Life Switzerland business unit, is to head up the Broker & Cooperations business area in the Multi-Channel Sales Switzerland business unit and will step down from the Executive Board. Link: Click Here

Lonza announces a new development and manufacturing agreement with Genmab A/S. This agreement secures a development and cGMP manufacturing plan for Genmab to produce a novel ADC product targeting tissue factor (TF), a protein involved in tumor signalling and angiogenesis that is highly expressed on solid tumors. The use of ADCs as therapeutic agents is becoming an important therapeutic approach for the treatment of various cancers. Link: Click Here

Insulin pen from Ypsomed to be launched in Germany. B. Braun, one of the world’s leading health care providers, will unveil the Omnifill® reusable insulin pen at the conference of the German Diabetes Association (Deutsche Diabetes-Gesellschaft – DDG), to be held in Berlin on 11 and 12 November 2011. This insulin pen uses the cutting-edge ServoPen® platform, which was developed by Ypsomed, and which has won the internationally renowned ‘red dot design award’. Link: Click Here

Basilea Pharmaceutica Ltd. (SIX:BSLN) announced today that it has concluded the second phase I study with its novel sulfactam antibiotic BAL30072 for the potential treatment of life-threatening multidrug-resistant Gram-negative infections. Link: Click Here

EDF and Alpiq announce that they have signed a preliminary agreement for the sale to EDF of Alpiq's 20% equity stake in Italian company Edipower. They have agreed to enter into negotiations on the basis of a price range between €150m and €200m. This preliminary agreement is part of the new proposal regarding Edison made yesterday in Milan by EDF to its Italian partners. Link: Click Here

Straumann today reported continued solid growth as net revenue climbed 5% in local currencies both in Q3 and over the first nine months of 2011. The performance was led by North America, which returned to double-digit growth in Q3, and the ‘Rest of the World’ region, which continued to expand dynamically. Group net revenue reached CHF 518 million and would have been CHF 60 million higher had it not been for the currency impact, which worsened to 12% points in Q3 – despite the welcome initiative of the Swiss National Bank to prevent the Swiss franc strengthening further against the euro. Link: Click Here

ADB: The Group notes that EBIT% (before acquisition and reorganization charges) is expected to be 2-3% of revenue and that acquisition and reorganization charges are expected to be US$ 13-15 million, out of which approximately US$ 9 million are 2011 non-cash items. The Group further notes that the pro-forma net profit in 2011 - which excludes the impact of acquisition and reorganization charges - is expected to be positive. Link: Click Here

austriamicrosystems (SIX: AMS), a leading worldwide designer and manufacturer of high performance analog ICs for consumer & communications, industry & medical and automotive applications, reports revenue and earnings growth for the third quarter of 2011 demonstrating the success of its broad-based portfolio and the strength of the combination of austriamicrosystems and TAOS. Increasing its 2011 guidance, austriamicrosystems now expects full year revenues of EUR 270-275m (USD 365-371m). Link: Click Here

Valora: Decline in the press market and pressure from parallel imports - Retail is gaining market share. Accentuated decline in the press market and increased pressure from parallel imports in Switzerland prompts new appraisal of Valora Group’s overall 2011 objectives - Valora Retail meanwhile is gaining market share in a challenging environment. Link: Click Here
 
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