November 5, 2019 / 5:31 AM / 14 days ago

Swiss stocks - Factors to watch on November 5

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

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

BANKING

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.

OC OERLIKON CORPORATION AG PFAEFFIKON

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.

COMPANY STATEMENTS

* 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.

RESEARCH

Straumann Holding AG: HSBC raises target price to Sfr 1,000 from 960

ECONOMY

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below