ZURICH/BERLIN, Nov 5 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2% higher at 10,357 points on Tuesday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
Adecco Group said “challenging market conditions in Europe and the U.S.” were weighing on the temporary staffing company’s results as it reported a 2% drop in third-quarter revenue.
Adecco Sells Soliant Health For $612 Mln To Olympus Partners
Europe’s private banks and asset managers are facing a crisis as business models are hollowed out by negative interest rates, the chief executive of Edmond de Rothschild told the Financial Times.
The Swiss industrial group reported its third-quarter revenue and core profit slightly below analysts’ expectations on Tuesday, citing continued market challenges.
Oerlikon’s third-quarter revenue declined to 633 million euros ($704 million), while its earnings before interest, taxes, amortisation and depreciation (EBITDA) dropped to 84 million euros, the Swiss group said.
* Novartis AG: Sandoz receives U.S. FDA approval for long-acting oncology supportive care biosimilar Ziextenzo (pegfilgrastim-bmez); Ziextenzo is indicated to decrease incidence of febrile neutropenia, one of most serious side effects of chemotherapy
* EFG International AG - Nominates Peter Fanconi as its new chair and Amy Yip as a new member of the board of directors
* Luzerner Kantonalbank AG: 9-month net profit of 151.8 million CHF (up 3.2% from year ago)
* Peach Property Group AG: in medium term, actual rental income targeted to increase to chf 60 million due to integration of new portfolio; EBT in fiscal year 2019 expected to increase to more than chf 100 million, an increase of 75 percent year-on-year; outlook 2019: pre-tax profits to more than chf 100 million for fiscal year 2019, significantly exceeding expectations
* LEM Holding SA: H1 sales decreased by 5.9% to CHF 159.1 million (CHF 169.0 million); net profit was down by 8.2% at CHF 25.1 million (CHF 27.3 million)
* Dufry AG: Turnover in first nine months of 2019 reached CHF 6,682.0 million versus 6,560.7 million year ago
* Ypsomed Holding AG: consolidated total turnover of chf 190.6 million during first half-year of business year 2019/20; h1 EBIT from continuing operations increased by 71%, h1 net profit amounted to chf 7.6 million (previous year: chf 56.1 million, incl. effects discontinued operations)
* Burckhardt Compression confirmed its full-year guidance of 600-640 million Swiss francs in sales and slightly higher margins after reporting a rise in sales and income.
* Santhera Pharmaceuticals named Dario Eklund as CEO. Thomas Meier will continue as a board member and will chair a newly formed board of director’s scientific committee.
Straumann Holding AG: HSBC raises target price to Sfr 1,000 from 960
No major Swiss economic data scheduled (Reporting by Zurich newsroom and Berlin Speed Desk)