ZURICH/BERLIN, March 6 (Reuters) - The Swiss blue-chip SMI was seen opening 1.8% lower at 9,958 points on Friday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
Chief Executive Mario Greco got total compensation of 9.3 million Swiss francs ($9.85 million) in 2019, up from 8.8 million in 2018, the group’s annual report showed.
Zurich says due to public health concerns, its annual shareholders meeting will be limited to the statutory meeting only, with no reception afterward
Asia’s richest investors, trapped at home by coronavirus travel restrictions, have increased trading activity over the past two months, private bankers said, even as wealth managers face a fall in new client money. Inflows of funds from new customers in January and February have fallen 10% to 20% in the region, bankers at two European wealth managers told Reuters, adding the trend is likely to continue in the near-term.
Strict travel curbs and the avoidance of social contact is making it tougher for banks including Credit Suisse Group AG , HSBC Holdings PLC and UBS Group AG to bring new wealthy clients on board, six bankers said.
* Starrag Group Holding AG: FY sales up 8% to CHF 418 million; net income CHF 6.9 million; order backlog down at CHF 284 million; order intake down 26% to CHF 343 million; to propose dividend in form of reduction in nominal value free of withholding tax amounting to CHF 1.00 per share; sales in 2020 are likely to be significantly below previous year’s level owing to weaker order intake in 2019; expects 2020 EBIT before restructuring costs to be somewhat lower or, in best-case scenario, unchanged compared with 2019
* Zug Estates said full-year net income excluding income from revaluation and special effects was up 9.6% to 31.4 million Sfr.
* Calida Holding AG: net sales increased by 1.7 percent in currency-adjusted terms to CHF 404.3 million in 2019; FY EBIT rose 9 percent to CHF 23.6 million, and the EBIT margin improved from 5.3 percent to 5.8 percent
* Landis+Gyr Group AG - Appoints Werner Lieberherr as Chief Executive Officer
* SFS Group: FY consolidated net profit rose by 6.5% to CHF 206.5 million; proposes dividend of CHF 2.10 per share (previous year: 2.00)
COLTENE HOLDING AG: Credit Suisse cuts price target to 79 Sfr from 85 Sfr; rating “neutral”
FORBO HOLDING AG: Baader Helvea cuts price target to 1,750 Sfr from 1,900 Sfr
Monthly data on foreign exchange reserves due around 0800 GMT
$1 = 0.9446 Swiss francs Reporting by Zurich newsroom and Berlin Speed Desk