ZURICH/BERLIN, April 28 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4% higher at 9,797 points on Tuesday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks on Tuesday:
U.S. President Donald Trump said that China could have stopped the coronavirus before it swept the globe and said his administration was conducting “serious investigations” into what happened.
Oil prices slumped, extending the previous session’s slide, on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly as coronavirus pandemic restrictions are gradually eased.
The world’s largest wealth manager reported a 40% increase in first-quarter net profit on Tuesday, as clients increased trading activity during market turmoil sparked by the coronavirus outbreak and as it extended more loans to its wealthy clients.
Shares indicated up 1.4%
Swiss drugmaker Novartis reported rising first-quarter sales and profit that beat analyst expectations and confirmed its 2020 targets as the coronavirus pandemic prompted patients to stock up on their prescriptions in advance.
ABB expects the coronavirus epidemic to trigger a “sharp drop” in demand over the next three months as lockdowns disrupt business activity around the world, the engineering company said. The COVID-19 crisis lowered revenues and profit margins in all its business during the first quarter. Revenues fell 9% to $6.22 billion, while net income fell 30% to $376 million, both ahead of market expectations.
Shares indicated up 3.6%
Roche Holding AG’s risdiplam showed significant improvement in survival and motor milestones in a clinical trial for infants with type 1 spinal muscular atrophy (SMA), the Swiss drugmaker said on Tuesday.
* Orascom Development Holding AG: to propose to AGM to re-introduce authorized capital in amount of CHF 65’000’000
* Bucher Industries said bit.ly/2SdJLBz it was confronted with lower capacity utilisation and the growing repercussions of the coronavirus pandemic in the first quarter, with order intake and sales declining.
* Cembra Money Bank confirmed its mid-term targets but suspended detailed guidance for 2020 due to the coronavirus pandemic.
CEMBRA MONEY BANK - Credit Suisse cuts target price to chf 106 from chf 110
CREDIT SUISSE - Citigroup raises price target to chf 14.3 from chf 13.5
KUEHNE UND NAGEL - JP Morgan raises target price to chf 131.48 from chf 131.21
NESTLE - RBC raises target price to chf 79 from chf 75
PSP SWISS PROPERTY - JP Morgan cuts target price to chf 110 from chf 130
No major Swiss economic data scheduled. (Reporting by Zurich newsroom and Berlin Speed Desk)