Swiss stocks - Factors to watch on June 2
02/06/2020 05:26
ZURICH/BERLIN, June 2 (Reuters) - Here are some of the main
factors that may affect Swiss stocks on Tuesday:
CORONAVIRUS
Thirty-seven countries and the World Health Organization
appealed for common ownership of vaccines, medicines and
diagnostic tools to tackle the pandemic, taking aim at patent
laws they fear could become a barrier to sharing crucial
supplies. urn:newsml:reuters.com:*:nL8N2DB5TY
Asian stocks eked out gains as investors' focus on the
prospects of a global coronavirus recovery won out over familiar
worries about Sino-U.S. relations and the depth of economic
damage. urn:newsml:reuters.com:*:nL4N2DF0QE
Gilead GILD.O reported that its antiviral drug remdesivir
provided a modest benefit in patients with moderate COVID-19
given a five-day course of the treatment, while those who
received the medicine for 10 days in the study did not fare as
well. urn:newsml:reuters.com:*:nL4N2DE35L
CREDIT SUISSE CSGN.S
The bank will not have a significant hit from its exposure
to an ailing oil and gas sector battered by the COVID-19
pandemic, Chairman Urs Rohner told SRF. He also said the bank is
not trying to delay a FINMA probe in the spying scandal
involving a former executive by challenging its choice of an
auditor in court. urn:newsml:reuters.com:*:nL8N2DC0FZ
Additionally, Ecuador in April repaid $1 billion of loans
made two years earlier by Goldman Sachs GS.N and Credit
Suisse, the Andean country's economy ministry said. urn:newsml:reuters.com:*:nL8N2DB6TN
LONZA LONN.S
Horseshoe crabs' icy-blue blood is set to remain the drug
industry's standard for safety tests after a powerful U.S. group
ditched a plan to put on an equal footing a synthetic substitute
pushed by Swiss biotech Lonza and animal welfare groups.
urn:newsml:reuters.com:*:nL8N2DE4M9
ROCHE ROG.S
The company said that the U.S. Food and Drug Administration
approved its immunotherapy Tecentriq in combination with its
drug Avastin for the most common kind of liver cancer.
urn:newsml:reuters.com:*:nASA00S2A
NESTLE NESN.S
The company said it would appeal a Dutch court's ruling that
prohibits the food giant from selling its plant-based burgers in
Europe under the "Incredible Burger" name after a challenge from
U.S.-based Impossible Foods. urn:newsml:reuters.com:*:nL4N2DE2SG
STADLER RAIL SRAIL.S
The trainmaker was hit by hackers who have published photos
of the company's documents in the Internet in a bid to blackmail
the company out of millions of dollars, Tages-Anzeiger reported.
Also, Stadler's new Giruno trains have problems with
reliability, including doors that do not function properly and
software problems, NZZ am Sonntag reported.
JULIUS BAER BAER.S
Chief Executive Philipp Rickenbacher told Finanz und
Wirtschaft that mistakes that "shouldn't have happened", as well
as a strong focus on winning new money under the tenure of his
predecessor Boris Collardi, led to troubles including cases
linked to global soccer group FIFA as well as a bribery scandal
in Venezuela that brought intervention from watchdog FINMA. "Our
controls did not function everywhere," Rickenbacher told the
newspaper. "We've worked for three years on correcting
underlying problems for that period. And we've already
accomplished a lot."
COMPANY STATEMENTS
* Burckhardt Compression BCHN.S said https://bit.ly/2XMYTro
it expects more than 650 million Swiss francs in sales and
stable profit margins for the fiscal year 2020.
* Cosmo Pharmaceuticals COPN.S announced it has increased
its stake in Acacia Pharma ACPH.BR to 18.53%. urn:newsml:reuters.com:*:nTENfsvkka
* Eastern Property Holdings EPH.S reported https://bit.ly/2XRIfXK
Q1 net rental income of $14 million, down from $19 million a
year ago.
* Ems Chemie EMSN.S said https://bit.ly/2XRedTR it will
hold its AGM on Aug 8 without the physical presence of
shareholders.
* Givaudan GIVN.S said https://bit.ly/36OEPZI it completed
the acquisition of the cosmetics business of Indena.
* IGEA Pharma IGPH.S said it expected a significant impact
on net sales in the second half of 2020, mainly driven by the
diversification of its wholesale distribution. urn:newsml:reuters.com:*:nEQ57vNb8a
ANALYSTS' VIEWS
CREDIT SUISSE CSGN.S - Fitch upgrades outlook to "stable";
affirms IDRs at 'A-' urn:newsml:reuters.com:*:nFit8BFCgJ
TEMENOS TEMN.S - Deutsche Bank cuts to "hold" from "buy",
cuts target price to chf 150 from chf 190 urn:newsml:reuters.com:*:nL8N2DE32X
ECONOMY
* Swiss April retail sales due at 0630 GMT
* Swiss May manufacturing sector PMI due at 0730 GMT
(Reporting by Zurich newsroom and Berlin Speed Desk)
((+41 58 306 7336; zurich.newsroom@thomsonreuters.com))
((For Top News in a multimedia Web format on Eikon visit: https://bit.ly/2NDFd6g
FOR RELATED PRICES, NEWS AND OTHER TOPICS, DOUBLE-CLICK ON:
Daily Swiss stock market report in German .SDE
All SMI constituent stocks 0#.SSMI
DJ STOXX index .STOXX
Top 10 STOXX sectors .PGL.STOXXS
Top 10 EUROSTOXX sectors .PGL.STOXXES
Swiss mid-cap index .SSMI
Swiss all-share index .SSHI
Swiss market digest .AD.S
Sector overview CH/SECTOR1
All Swiss news CH
Swiss research news CH-RCH
All equity news E
SPEED GUIDES: EQUITY EQUITY/NEWS1 EUR/EQUITY SWITZERLAND REUTERS ))