May 17, 2019 / 5:03 AM / a month ago

Swiss stocks - Factors to watch on May 17

ZURICH/BERLIN, May 17 (Reuters) - The Swiss blue-chip SMI was seen opening 0.5 percent lower at 9,611 points on Friday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks:

RICHEMONT

The luxury goods group Richemont said sales of its watches and jewellery both grew by 10% in the year to the end of March, with the Americas and Asia performing well.

CREDIT SUISSE

Credit Suisse Group AG has established a unit focusing on so-called family office services in Greater China, as demand continues to surge among rich Asians wanting to set up private investment vehicles and plan for business succession.

NOVARTIS

The Australian Competition & Consumer Commission (ACCC) said GlaxoSmithKline and Novartis misled consumers with Voltaren Osteo gel claims. It found that despite having the same active ingredients, Osteo Gel was often sold at a significantly higher retail price than Emulgel.

COMPANY STATEMENTS

* HBM Healthcare Investments reported fiscal year profit of CHF 209 million ($207.14 million).

$1 = 1.0090 Swiss francs Reporting by Zurich newsroom and Berlin Speed Desk

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