November 8, 2019 / 5:56 AM / 12 days ago

Swiss stocks - Factors to watch on November 8

ZURICH/BERLIN, Nov 8 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4% lower at 10,286 points on Friday, according to premarket indications by bank Julius Baer .

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

RICHEMONT

The luxury goods group said political protests in Hong Kong weighed on sales growth in the six months to Sept. 30, but strong demand in the rest of China, Korea, Japan and the United States more than made up for this.

Shares indicated down 4.7%

WEALTH MANAGEMENT

The world’s richest people became a little less well off last year, according to a report by UBS and PwC, as geopolitical turmoil and volatile equity markets reduced the wealth of billionaires for the first time in a decade.

COMPANY STATEMENTS

* Bobst Group confirmed its full-year guidance for sales and operating profit.

* Dufry AG: closes acquisition of Regstaer Vnukovo

* Cassiopea SpA: announces FDA acceptance of its new drug application for Clascoterone cream 1%, first new mechanism of action for acne in nearly 40 years

ANALYSTS’ VIEWS

* Barry Callebaut: Credit Suisse cuts price target to SFR 2,310 from SFR 2,350; rating outperform

* ObsEva RBC cuts price target to $18 from $30.

ECONOMY

Swiss headline jobless rate 2.2% in October

Reporting by Zurich newsroom and Berlin Speed Desk

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