March 23, 2020 / 5:20 AM / 8 days ago

Swiss stocks - Factors to watch on March 23

ZURICH/BERLIN, March 23 (Reuters) - The Swiss blue-chip SMI was seen opening 3.4% lower at 8,331 points on Monday, according to premarket indications by bank Julius Baer .

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

CORONAVIRUS

Switzerland recorded more than 900 additional coronavirus cases from Saturday to Sunday, the nation’s health ministry said, bringing total confirmed infections to 7,014 and at least 60 deaths, up from 56 a day earlier.

The Swiss government does not have to borrow fresh money immediately to fund the 32 billion Swiss franc economic support package it unveiled for business hit by the coronavirus epidemic, the finance ministry said.

Mainland China saw a drop in its daily tally of new coronavirus cases, reversing four straight days of gains, as the capital Beijing ramped up measures to contain the number of infections arriving from abroad.

Asian shares sank on Monday as a rising tide of national lockdowns threatened to overwhelm policymakers’ frantic efforts to cushion what is likely to be a deep global recession.

JULIUS BAER

The bank’s Chief Executive Philipp Rickenbacher had a compensation package of 4.41 million Swiss francs ($4.49 million)for 2019, the Swiss private bank said on Monday.

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COMPANY STATEMENTS

* Autoneum said the temporary plant closures at almost all customers in all regions would result in a revenue decline at Autoneum in the current year and it needed to adjust staff numbers and cut costs.

* Datacolor said the coronavirus pandemic will adversely affect sales and operating profit (EBIT) in the first half of 2019/20.

* Helvetia Holding said its annual general meeting would take place without the physical presence of shareholders and the acquisition of Caser was set to go on as planned.

ECONOMY

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

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