October 21, 2019 / 4:51 AM / 25 days ago

Swiss stocks - Factors to watch on October 21

ZURICH/BERLIN, Oct 21 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3% higher at 9,994 points on Monday, according to premarket indications from bank Julius Baer .

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

ELECTION

Support for the Greens surged in Switzerland’s election on Sunday, moving politics to the left and putting environmentalists in the mix for a seat in the broad coalition that has governed the country for decades

AMS

AMS said on Friday it would lower the acceptance rate under a new bid for German lighting group Osram that keeps the offer price unchanged. Bain and Advent informed Osram on Friday that they would refrain from a takeover bid for the time being, the German company said at the time. But sources familiar with the buyout groups’ thinking told Reuters on Sunday that the investors were waiting in the wings possibly to revive their approach if AMS’s bid failed.

SUNRISE

The SonntagsZeitung paper, citing unidentified company sources, said Sunrise may complain to financial markets watchdog FINMA about its suspicions that big investor Freenet might have acted in concert with other shareholders to oppose Sunrise’s planned rights issue to finance the 6.3 billion Swiss franc takeover of Liberty Global’s UPC business.

Contacted by Reuters, Freenet said it had not contacted other shareholders or tried to influence them.

DRUGMAKERS

U.S. trade officials did not mention the possibility of imposing punitive tariffs on imported Swiss pharmaceuticals during talks in Washington on Friday, several Swiss media reported. Instead, both sides are exploring chances for negotiating a free-trade deal.

ROCHE

Roche’s Tecentriq immunotherapy mixed with the older cancer drug Avastin lifted both overall survival and progression-free survival in people with liver cancer that cannot be surgically removed, the Swiss drugmaker said on Monday.

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LAFARGEHOLCIM

Warplanes from the alliance fighting Islamic State in Syria attacked the company’s Jalabiya cement factory last week, the SonntagsZeitung paper reported, citing comments from the alliance and Turkish President Erdogan. It said LafargeHolcim still owned the plant but had not operated it since 2014.

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UBS

The Swiss bank will cut up to 30 banking jobs in Asia, a person with knowledge of the matter told Reuters.

COMPANY STATEMENTS

* Glarner Kantonalbank said net profit rose to 17.8 million Swiss francs in the first nine months of 2019.

* Implenia AG said it had agreed with long-term anchor shareholder Max Roessler on a joint approach to the company’s strategic development.

* Perfect Holding said it had dropped the acquisition project announced on Sept 27 due to an unexpected development in the business environment of the potential target company. The board will communicate on the company’s options, in particular in view of the going concern issues raised by the termination of the transaction process as soon as possible.

* Perrot Duval Holding said certain Chinese authorities and the Chinese stock exchange had not yet given their approval to the sale by Perrot Duval of the Infranor group to Guangzhou Haozhi Industrial Co. Ltd., Guangzhou. The closing of the agreement could take place after this administrative process has been achieved.

RATING CHANGES

* JULIUS BAER GRUPPE AG: CITIGROUP CUTS TO NEUTRAL FROM BUY; CUTS PRICE TARGET TO SFR 47.5 FROM SFR 49

* CREDIT SUISSE GROUP AG: CITIGROUP CUTS PRICE TARGET TO SFR 16.5 FROM SFR 16.7

* UBS GROUP AG: CITIGROUP CUTS PRICE TARGET TO SFR 14.5 FROM SFR 15

* EFG INTERNATIONAL AG: CITIGROUP CUTS PRICE TARGET TO SFR 7.3 FROM SFR 7.7

* VONTOBEL HOLDING AG: CITIGROUP CUTS PRICE TARGET TO SFR 64 FROM SFR 66

Reporting by Zurich newsroom and Berlin Speed Desk

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