February 11, 2020 / 5:36 AM / 7 days ago

Swiss stocks - Factors to watch on February 11

ZURICH/BERLIN, Feb 11 (Reuters) - The Swiss blue-chip SMI was seen opening 0.5% higher at 11,090 points on Tuesday, according to premarket indications by bank Julius Baer .

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

CORONAVIRUS

The death toll from the coronavirus epidemic in mainland China soared past 1,000 with a record daily rise in fatalities, although the number of new confirmed cases fell.

Asian share markets followed Wall Street higher as China’s factories struggled to re-open after an extended break, though analysts warned investors might be underestimating how economically damaging the challenge was likely to be.

NOVARTIS

Novartis has won fast-track U.S. regulatory review for capmatinib (INC280) in a hard-to-treat form of lung cancer, the Swiss drugmaker said. Capmatinib is a MET inhibitor being evaluated as a treatment for first-line and previously treated patients with locally advanced or metastatic MET exon 14 skipping (METex14) mutated non-small cell lung cancer.

AMS

The sensor specialist reported fourth-quarter revenues above its own forecast amid strong demand for high-end smartphones but warned revenues in the first quarter would decrease.

Adjusted earnings before interest and tax (EBIT) were at $184.3 million and revenue reached $655 million in the three months through December, the Austrian group which is about to take over Germany’s Osram said. Revenue in the first quarter is expected to reach $480-520 million due to seasonality and assuming no meaningful negative impact from the coronavirus outbreak.

The company made clear that it aimed to secure a so-called domination agreement with Osram to allow it to use the lighting group’s cash flow to pay back debt.

PARTNERS GROUP

Private equity-backed PCI Pharma Services is looking for a new owner, preferably another buyout firm, the Wall Street Journal reported.

COMPANY STATEMENTS

* Peach Property Group AG: Positive outlook with an anticipated growth in actual rent for 2020 of at least 40 percent to more than CHF 55 million; FY actual rental income around CHF 39 million - an increase of 31 percent versus prior year; amounting to around CHF 109 million, earnings before taxes were about 90% above prior year level

ANALYSTS’ VIEWS

IDORSIA LTD: Deutsche Bank raises target price to CHF 35 from 31

STRAUMANN - JP Morgan raises price target to 869 Sfr from 779 Sfr

ECONOMY

* No major Swiss economic data scheduled

* Government to top up 2030, 2039 bonds in auction on Wednesday (Reporting by Zurich newsroom and Berlin Speed Desk)

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