October 22, 2019 / 4:53 AM / a month ago

Swiss stocks - Factors to watch on Oct. 22

ZURICH/BERLIN, Oct 22 (Reuters) - The Swiss blue-chip SMI was seen opening 0.7% higher at 10,056 points on Tuesday, according to premarket indications by bank Julius Baer .

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

UBS

The bank said its net profit attributable to shareholders fell by 16% year-on-year in the third quarter. UBS said in a statement that geopolitical tensions and trade disputes continued to impact investor confidence.

Shares indicated up 2.6%

NOVARTIS

The Swiss drugmaker boosted its full-year targets, with sales now expected to grow at a high single-digit percentage rate and core operating income now seen growing at a mid- to high-teen rate. Third-quarter core net income rose 17% at constant currencies to $3.2 billion. Sales were $12.2 billion, compared to the $11.7 billion average in a Refinitiv poll.

Shares indicated up 2.2%

SUNRISE

Sunrise Communications Group bowed to investor pressure on Tuesday and scrapped a rights issue needed to complete its 6.3 billion Swiss franc ($6.39 billion) acquisition of Liberty Global’s UPC business.

LOGITECH

The company confirmed its outlook for 2020 as it reported quarterly sales were up 6% in constant currencies compared to the previous year.

KUEHNE UND NAGEL INTERNATIONAL

Kuehne & Nagel International posted better-than-expected core earnings for the third quarter as the Swiss freight-forwarding group saw strong operational growth in sea freight, overland and contract logistics divisions.

COMPANY STATEMENTS

* Lalique Group - the luxury goods company said it expects lower profit in 2019 than in 2018, with an estimated operating profit of 0.3 million euros ($335,000) to 1.5 million euros ($1.67 million), down from 6.1 million euro operating profit in 2018.

ECONOMY

No major economic data due. ($1 = 0.8967 euros) (Reporting by Zurich newsroom and Berlin Speed Desk)

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