January 6, 2020 / 5:32 AM / a month ago

Swiss stocks - Factors to watch on January 6

BERLIN/ZURICH, Jan 6 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3% lower at 10,670 points on Monday, according to premarket indications by bank Julius Baer .

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

CREDIT SUISSE

Credit Suisse Group said on Monday it had hired two bankers from Deutsche Bank AG for its China prime brokerage business, as part of its expansion plans in the world’s second-largest economy.

SWISS-EU RELATIONS

Most Swiss oppose a referendum campaign launched by the far right to end the free movement of citizens from the European Union, a poll found. The referendum drive reflects unease with the influx of foreigners, who now account for a quarter of the Swiss population. But imposing limits on EU citizens would violate bilateral accords that enhance Swiss access to the EU single market, the lifeblood of the export-led Swiss economy.

SIX SWISS EXCHANGE

Trading turnover on the Swiss Stock Exchange increased by 8.5% in 2019 to 1,477.1 billion Swiss francs. The number of trades rose 6.1% to 64 million transactions here

BASLER KANTONALBANK

SonntagsZeitung paper reported the bank faces a money-laundering investigation after the Swiss Federal Court told prosecutors in Aargau canton not to drop the case as they had planned. It cites a bank spokesman as saying the accusation related to accounts it held for a company involved in fraud is unfounded.

NOVARTIS

The company has raised U.S. prices on nearly 30 drugs including psoriasis treatment Cosentyx and multiple sclerosis medicine Gilenya, a research firm said. Most of those increases were in the range of 5.5% to 7%.

Novartis said it completed its $9.7 billion tender offer for The Medicine Co, a deal to augment its portfolio of heart drugs.

ANALYSTS:

* VIFOR PHARMA AG: JP MORGAN RAISES TARGET PRICE TO CHF 175 FROM CHF 155

* MOLECULAR PARTNERS AG: JP MORGAN RAISES TO OVERWEIGHT FROM NEUTRAL; RAISES TARGET PRICE TO CHF 21.50 FROM CHF 15.50

* LONZA GROUP AG: JP MORGAN RAISES TARGET PRICE TO CHF 390 FROM CHF 370

* NOVARTIS AG: JP MORGAN RAISES TARGET PRICE TO CHF 91 FROM CHF 82

* ROCHE HOLDING AG: JP MORGAN RAISES TARGET PRICE TO CHF 375 FROM CHF 330

* SONOVA HOLDING AG: JP MORGAN RAISES TO OVERWEIGHT FROM NEUTRAL; RAISES TARGET PRICE TO CHF 236 FROM CHF 192

COMPANY STATEMENTS

* Schmolz + Bickenbach: Major shareholder Liwet Holding has withdrawn a request to convene an extraordinary general meeting to replace the board of directors.

* DKSH Holding said it had partnered with Cuhk Medical Centre in Hong Kong

* Stadler Rail said it won a contract to supply 14 trams to Darmstadt transport operator, a deal worth 62 million euros.

* Sunrise Communications says it hired Uwe Schiller as CFO

ECONOMY

* No major Swiss economic data scheduled (Reporting by Zurich newsroom and Berlin Speed Desk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below