June 10, 2020 / 4:52 AM / 24 days ago

Swiss stocks - Factors to watch on June 10

ZURICH/BERLIN, June 10 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3% higher at 10,217 points on Wednesday, according to premarket indications from bank Julius Baer.

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

JULIUS BAER

The Swiss private bank faces another enforcement proceeding by watchdog FINMA, this time over whether it followed proper anti-money-laundering procedures in its ties to a former Argentine client, the Neue Zuercher Zeitung reported.

The bank confirmed the enforcement proceeding.

Shares indicated down 1.3%

GAM HOLDING

The embattled asset manager is no longer actively looking for a buyer or major strategic investor, Chief Executive Peter Henderson said in a newspaper interview.

“We looked at these options, but at the moment we believe that the strategy we have presented is the best one to add value,” he told Finanz und Wirtschaft in an article published on Wednesday.

Shares indicated up 2%

TEMENOS

The Swiss banking software group expects better times for in the second half of the year after lenders put IT projects on hold due to the coronavirus pandemic, CEO Max Chuard told the Finanz und Wirtschaft newspaper in an interview.

CREDIT SUISSE

CEO Gottstein and CFO Mathers due to address Goldman Sachs European financials conference

COMPANY STATEMENTS

* Immofonds Immobilien AG: plans capital increase of about CHF 100 million in autumn 2020

* Zurich Insurance Group - placement of EUR 750 mln of dated subordinated notes

* Adecco Group said it had appointed Corinne Ripoche as chief executive officer of Adecco Staffing in the Americas.

ANALYSTS’ VIEWS

GIVAUDAN SA: MORGAN STANLEY RAISES TO EQUAL-WEIGHT FROM UNDERWEIGHT

ALCON: BAIRD RAISES TARGET PRICE TO $61 FROM $57

MEDACTA GROUP SA: CREDIT SUISSE RAISES TARGET PRICE TO CHF 91 FROM CHF 84

STRAUMANN HOLDING: JEFFERIES CUTS TO “HOLD” FROM “BUY”; CUTS PRICE TARGET TO CHF 750 FROM CHF 1120

ECONOMY

No major economic data scheduled. (Reporting by Zurich newsroom and Berlin Speed Desk)

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