March 3, 2020 / 5:57 AM / a month ago

Swiss stocks - Factors to watch on March 3

ZURICH/BERLIN, March 3 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4% higher at 9,993 points on Tuesday, according to premarket indications from bank Julius Baer .

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

SWISS RE/UBS

Swiss Re said it will nominate UBS Group Chief Executive Sergio Ermotti to be its next chairman, the Swiss reinsurer said on Tuesday.

NOVARTIS

Novartis unit Sandoz has agreed to pay $195 million to reach a deferred prosecution agreement aimed at resolving antitrust charges, the U.S. Justice Department said on Monday.

LINDT & SPRUENGLI

Switzerland’s Lindt & Spruengli proposed a sweeter payout to shareholders increasing its dividend by 75% to mark its 175th anniversary, the chocolate maker said on Tuesday.

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LOGITECH

Logitech International said supply problems caused by the coronavirus outbreak will dent its full year profit, as it gave its outlook for the next financial year.

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COMPANY STATEMENTS

* Forbo said 2019 group profit rose by 0.5% to 138.3 million Swiss francs ($144.35 million).

* Julius Baer said it nominated Kathryn Shih and Christian Meissner for election to its board of directors.

* Oerlikon posted a full-year group net loss of 66 million Swiss francs

* Roche said the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation (BTD) to Esbriet (pirfenidone) for adults with unclassifiable interstitial lung disease (uILD).

ANALYSTS’ VIEWS * Jefferies initiates ABB with underperform rating and price target of 18.50 Swiss francs

ECONOMY

The Swiss economy slowed to a 0.3% growth rate in the fourth quarter of 2019, the government said on Tuesday, as exports fell and industry struggled. ($1 = 0.9581 Swiss francs) (Reporting by Zurich newsroom and Berlin Speed Desk)

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