May 6, 2020 / 4:42 AM / 24 days ago

Swiss stocks - Factors to watch on May 6

ZURICH/BERLIN, May 6 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3% lower at 9,489 points on Wednesday, according to premarket indications by bank Julius Baer.

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

CORONAVIRUS

Corporate profits expectations for the second and third quarters continued to deteriorate sharply in Europe, Refinitiv data showed on Wednesday, as fears about the scale of the recession triggered by the coronavirus pandemic continue to grow.

CREDIT SUISSE

The lender’s employees have been told to expect to return to work in four phases from work-at-home arrangements implemented because of the coronavirus, Bloomberg reported.

ANNUAL GENERAL MEETINGS

ALCON - No dividend proposed

COMPANY STATEMENTS

* Igea Pharma said Miami University had made a determination about the “high quality” of Igea’s COVID-19 rapid test. “We hope now to consolidate such evidence with a positive and soon response to our (U.S. Food and Drug Administration) submission...and start selling,” the company’s CEO said in a statement.

* Landis+Gyr said full year net income was $113.7 million, down 7% compared to the year-ago period.

* Schmolz+Bickenbach said it posted a first quarter operating loss of 6.1 million euros, from a profit of 42.2 million, as sales plunged amid the coronavirus pandemic.

* Santhera Pharmaceuticals said it signed agreements in gene therapy research for muscular dystrophy with Rutgers University

* Relief Therapeutics said the erectile dysfunction drug aviptadil is being tested against COVID-19 at NYU Langone Health in New York.

* Private Equity Holding says FY Comprehensive Income was 15 million euros, plans for 2 franc per share distribution to shareholders

ANALYSTS’ VIEWS

BB BIOTECH - Baader Helvea raises to add from reduce; raises target price to 68 Swiss francs from 65 Swiss francs

ECONOMY

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

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