Business Week Ahead

Traders on the Swiss stock exchange will have their eyes on the psychologically important barrier of 8,000 points this week.

The stock market has been trading just below that mark for some time now and traders will be hoping that this week will see a final push to break the ceiling.

The focus will be on banking stocks and in particular, Credit Suisse. The bank’s shares reached a two-year high last week amid rumours it was considering a European acquisition.

They reached a level not seen since August 1998 after which Credit Suisse’s share price tumbled in the wake of Russia’s debt default and the devaluation of the rouble.

Richemont shares will also be watched closely after the luxury goods group’s acquisition of Les Manufactures Horlogères (LMH) last week. It paid around SFr3 billion to clinch the deal with Mannesmann.

The move secured three top watch brands for Richemont in one swoop.

LMH owns the International Watch Company based in Schaffhausen and has majority stakes in both Jaeger-LeCoultre and A.Lange & Soehne.

The Russian special investigator, Nikolai Volkov, arrives in Switzerland on Wednesday to continue his investigation into money laundering allegations surrounding the airline, Aeroflot, and two Swiss-based companies.

He is coming to Berne to collect documents seized by the Swiss authorities and for discussions with senior Swiss justice officials.

And in a quiet week on the corporate front, Logitech releases its first quarter figures on Tuesday. Founded in 1981, the Lausanne-based company manufactures internet video cameras, computer mice, keyboards and other computer accessories.

by Michael Hollingdale