Swiss stocks - Factors to watch on May 5

Addex Therapeutics

05/05/2022 05:31

ZURICH/BERLIN, May 5 (Reuters) - Here are some of the main
factors that may affect Swiss stocks on Thursday:
    
    CREDIT SUISSE  CSGN.S 
    The bank expects a Bermuda court case to cost it around $600
million, it said in its first-quarter financial report released
on Thursday, specifying earlier remarks that damages could be
well in excess of $500 million  CSGN.S 
     Its report kept its first-quarter net loss at 273 million
Swiss francs ($280.5 million) and had net litigation provisions
of 703 million, as previously reported
    
    SWISS RE  SRENH.S 
    The reinsurer swung to a loss in the first quarter, hurt by
the effect of the war in Ukraine and volatile markets. The net
loss of $248 million compares with a net profit of $333 million
a year earlier, but beat analysts' expectations for a loss of
$311 million  SRENH.S 
    
    ADECCO GROUP AG  ADEN.S 
    Denis Macheul, the boss of French multinational food service
company Sodexo  EXHO.PA , will replace CEO Alain Dehaize from
July 1; Q1 sales rose slightly ahead of market expectations, the
temporary staffing company said, pointing to a continued upturn
in the global economy as companies took on more workers  ADEN.S 
    
    COMPANY STATEMENTS
    * Novartis AG  NOVN.S : receives European Commission
approval for Jakavi to be first post-steroid treatment for acute
and chronic graft-versus-host disease  NOVN.S 
    * Landis+Gyr Group AG  LANDI.S : FY net profit $79.4 million
 LANDI.S 
    * Addex Therapeutics Ltd  ADXN.S : Q1 net loss 5.8 mln CHF
 ADXN.S 
    *HIAG Immobilien Holding AG  HIAG.DE  says it successfully
placed a fixed-interest bond of 150 million Swiss
francs HIAG.DE 
    *Schaffner Holding AG  SAHN.S  says H1 EBIT from continuing
operations rose 11.3% to 7.1 million Swiss francs  SAHN.S 
    
    ANALYSTS' VIEWS
    GEBERIT AG  GEBN.S : MORGAN STANLEY RAISES TARGET PRICE TO
CHF 581 FROM CHF 559
    BUCHER INDUSTRIES AG  BUCN.S : CREDIT SUISSE CUTS TARGET
PRICE TO CHF 402 FROM CHF 478

    ECONOMY
    Swiss April CPI due at 0630 GMT. Seen +0.3 m/m, +2.5 y/y.


 (Reporting by Zurich newsroom and Berlin Speed Desk)
 ((+41 58 306 7336; zurich.newsroom@thomsonreuters.com))
 
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