February 10, 2020 / 5:26 AM / 15 days ago

Swiss stocks - Factors to watch on February 10

ZURICH/BERLIN, Feb 10 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3% lower at 10,970 points on Monday, according to premarket indications by bank Julius Baer .

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

ROCHE

The Swiss drugmaker’s experimental drug gantenerumab failed to slow cognitive decline in people with a rare inherited form of Alzheimer’s disease, the latest setback for companies hunting for a cure for the devastating brain-wasting disease.

CORONAVIRUS

Workers began trickling back to offices and factories around China as the government eased some restrictions on working in the wake of the coronavirus epidemic that has now killed more than 900 people, mostly on the mainland. A large number of workplaces will remain closed and many white-collar workers will continue to work from home.

FLUGHAFEN ZUERICH

The 28 flights a week to and from China that have been scrapped because of the coronavirus mean the Zurich airport operator is not receiving fees for those slots, a drop in income of 140,000 francs a week, SonntagsZeitung reported.

CREDIT SUISSE

The bank’s Chairman Urs Rohner does not expect to be voted out of office before his term ends after this week’s departure of Chief Executive Tidjane Thiam over a spying scandal, he told Schweiz am Wochenende.

GLOBUS

Thailand’s Central Group and Austria’s Signa, which are jointly buying the luxury department store chain, plan to invest at least 150 million euros in it, their designated head of Globus, Vittorio Radice, told SonntagsZeitung.

The new owners will focus on larger stores and close smaller ones, and while it is too early to mention layoffs, there will be “possibly not many at all”, he said.

COMPANY NEWS:

* Comet Holding said full-year sales fell to 371.6 million francs in 2019, from 436 million in the previous year.

* DKSH Holding said full-year profit fell to 176 million francs, down from 260.3 million as the company did not repeat a windfall from divestments, restructuring costs bit into profits, and on higher financing charges. Sales and operating profit rose slightly.

* BFW Liegenschaften released the provisional final result of the tender offer of BFW Holding for all category A registered shares of BFW Liegenschaften

ECONOMY

* Swiss January unadjusted jobless rate was 2.6% in January.

* Swiss January CPI due at 0730 GMT, seen +0.2% y/y (Reporting by Zurich newsroom and Berlin Speed Desk)

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