July 29, 2019 / 5:20 AM / 20 days ago

Swiss stocks - Factors to watch on July 29

ZURICH/BERLIN, July 29 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent lower at 9.943 points on Monday, according to premarket indications by bank Julius Baer . Here are some of the main factors that may affect Swiss stocks:

CLARIANT

Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals firm, said on Sunday it has no interest in taking over Swiss chemicals firm Clariant but remains keen on a partnership once market conditions improve, the Saudi company’s CEO said in an interview.

For more click

ZURICH INSURANCE

The Sunday Times reports that the Zurich insurance company is seeking a buyer for its IFA platform.

For more click

NOVARTIS NOVN.S

Chief Executive Vas Narasimhan pledged in an interview published on Saturday not to sell the Swiss drugmaker’s generics unit Sandoz amid a revamp that has prompted speculation he is preparing to offload the business.

Additionally, a group of Swiss universities is forming in hopes of soon offering cell therapies to cancer patients that are cheaper than those offered by companies including Novartis and Gilead, the NZZ am Sonntag reported. The effort is similar to a push in the Netherlands, after an uproar over the price of Novartis’s Lutathera.

For more click

UBS

Switzerland’s highest court on Friday ruled that historical data on about 40,000 UBS clients must be handed to French tax authorities in a landmark case that could set a precedent for foreign governments seeking information from Swiss banks.

For more click

COMPANY STATEMENTS

* DKSH Holding was appointed by Philipp Kirsch as exclusive distributor to introduce cooling solutions for the healthcare industry and laboratories in Taiwan.

* Novartis gave an update on phase III PARAGON-HF trial in heart failure patients with preserved ejection fraction (HFPEF), saying the study had narrowly missed statistical significance on its primary endpoint but the overall safety profile was confirmed.

ANALYSTS’ VIEWS

* Lonza Group: JP Morgan establishes June 2020 price target of CHF 370 vs. Dec 2019 price target of CHF 325.

* Nestle: Credit Suisse raises price target to CHF 91 from CHF 88; rating underperform. Berenberg also raises its price target to CHF115 from CHF105; Barclays raises it to CHF115 from CHF106.

ECONOMY

No 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