May 3, 2018 / 4:54 AM / 7 months ago

Swiss stocks - Factors to watch on May 3

ZURICH, May 3 (Reuters) - The Swiss blue-chip SMI was seen opening down 0.3 percent at 8,872 points on Thursday, according to premarket indications by bank Julius Baer .

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

CEVA LOGISTICS

The transport group priced its initial public offering at 27.50 Swiss francs per share, the low end of its indicated range, raising 1.2 billion Swiss francs ($1.20 billion) in an all-primary offering to repay debt.

NOVARTIS

Novartis AG NOVN.S said its biosimilar version of rituximab to treat blood cancers and immunological diseases such as rheumatoid arthritis had not won regulatory approval from the U.S. Food and Drug Administration

CEO Vas Narasimhan to speak at 0900 GMT at biotech conference

RICHEMONT

Swiss luxury goods group said Jean-Jacques Van Oosten had resigned as chief technology officer for personal reasons after only four months on the job.

GEBERIT

Geberit said it expected raw material prices to continue rising as the Swiss toilet and plumbing supplies maker on Thursday reported operating profit in line with forecasts

LOGITECH

Confirmed its FY 2019 outlook of high single-digit sales growth in constant currency and $310-320 million in non-GAAP operating income after posting record sales

UBS

The bank is looking for a controlling stake in its China joint venture, UBS Securities Co, after the country’s securities regulator announced new rules this year easing restrictions on foreign ownership of brokerages

COMPANY STATEMENTS

* Sunrise Communications Group AG: revenue increase of +6.4 percent (incl. IFRS 15: +6.3 percent) in Q1, driven by hardware revenue

* Phoenix Mecano AG: streamlines ELCOM/EMS product range: sale of shares in Wijdeven Inductive Solutions BV

* Valiant Holding AG: Q1 net profit increased by 9.3 percent year-on-year to CHF 26.0 million

* Orascom Development Holding AG: completes sale of Egyptian hotel for $50 million

* Schindler Holding AG: places CHF 500 million domestic bond in two tranches

* Banque Cantonale du Valais: Pierre-Alain Grichting proposed as president of board of directors

ECONOMY

Swiss National Bank Chairman Thomas Jordan delivers address at 1600 GMT on dangers of sovereign money initiative to be voted on in June referendum

Reporting by Zurich newsroom

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