August 2, 2019 / 4:59 AM / 2 months ago

Swiss stocks - Factors to watch on August 2

ZURICH/BERLIN, Aug 2 (Reuters) - The Swiss blue-chip SMI was seen opening 1.4% lower at 9,784 points on Friday, according to premarket indications by bank Julius Baer .

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

ZURICH INSURANCE GROUP

Portugal’s competition authority AdC said on Thursday it had fined four insurance companies, including a local Zurich branch, a total of 54 million euros ($59.6 million) for “cartel practices”, following a long-running investigation.

COMPANY STATEMENTS

* Mobimo Holding AG: profit for first half of 2019 was CHF 43.5 million (first half of 2018: CHF 37.9 million)

* Crealogix Holding AG: FY 2018/2019 sales increased by 17% to CHF 101.9m; FY losses amounted to CHF 6.3m (in previous year, there was a net profit CHF 0.9m)

* Santhera Pharmaceuticals Holding AG - announces closing of licensing transaction with Chiesi Group for Raxone

* Relief Therapeutics Holding SA: announces termination of the agreements with Genclis and H&H Group

* Stadler Rail on Wednesday said it had won with its Spanish partner Erion an order for 22 locomotives from the Spanish Administration of Railway Infrastructure.

ANALYSTS’ VIEWS

ABB LTD - SocGen cuts to “hold” from “buy”

ECONOMY

July inflation data due at 0630 GMT. CPI seen at -0.3% m/m, 0.5% y/y.

July manufacturing PMI data due at 0730 GMT. Seen at 46.5 points from 47.7 points in June.

Reporting by Zurich newsroom and Berlin Speed Desk

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