Swiss stocks - Factors to watch on March 19
19/03/2020 05:29
ZURICH/BERLIN, March 19 (Reuters) - The Swiss blue-chip SMI
.SSMI was seen opening 0.3% higher at 8,366 points on
Thursday, according to premarket indications from bank Julius
Baer JBPRE01 .
Here are some of the main factors that may affect Swiss
stocks:
CREDIT SUISSE CSGN.S
The Swiss bank said on Thursday that business in the first
quarter had been going well despite economic turmoil linked to
the coronavirus epidemic. urn:newsml:reuters.com:*:nFWN2BC06B
ROCHE ROG.S
Roche will test its arthritis drug Actemra in patients with
coronavirus-linked pneumonia, the Swiss drugmaker said on
Thursday, joining other pharmaceutical companies seeking to
re-purpose existing medicines to fight the epidemic.
urn:newsml:reuters.com:*:nASN0004BI
NOVARTIS NOVN.S
The Swiss drugmaker's gene therapy Zolgensma, the world's
costliest one-time treatment at $2.1 million per patient, won
Japanese approval to be used to treat patients under the age of
two who have the genetic disease spinal muscular atrophy.
urn:newsml:reuters.com:*:nFWN2BC03D
CORONAVIRUS
The European Central Bank launched new bond purchases worth
750 billion euros at an emergency meeting in a bid to stop a
pandemic-induced financial rout shredding the euro zone's
economy and renew concerns about the bloc's viability.
urn:newsml:reuters.com:*:nL8N2BBACD
The U.S. Senate overwhelmingly passed legislation providing
billions of dollars to limit the damage from the coronavirus
pandemic through free testing, paid sick leave and expanded
safety-net spending. urn:newsml:reuters.com:*:nL1N2BB0D4
SWISS
Lufthansa LHAG.DE unit Swiss International Air Lines said
on Thursday it is experiencing massive revenue losses in 2020
and that short-term measures to safeguard liquidity are the top
priority as the coronavirus lays waste to global travel.
urn:newsml:reuters.com:*:nL8N2BC1EG
SWISS NATIONAL BANK
The Swiss National Bank increased its foreign currency
interventions to 13.2 billion Swiss francs ($13.67
billion)during 2019, nearly six times more than a year earlier,
the central bank said on Thursday. urn:newsml:reuters.com:*:nZ8N2AZ005
Rate decision due at 0830 GMT
SIX SWISS EXCHANGE
Spain's stock market regulator CNMV has issued a favourable
recommendation for the Spanish government to approve a proposed
takeover of Madrid stock exchange BME BME.MC by SIX, a CNMV
spokesman said. urn:newsml:reuters.com:*:nL8N2BB8S7
SWATCH GROUP UHR.S
2019 annual report published
SWISS RE SRENH.S
2019 annual report published
COMPANY STATEMENTS
* Bucher Industries BUCN.S said it is temporarily shutting
down production sites in France due to the coronavirus pandemic.
urn:newsml:reuters.com:*:nTENsy2vta It also said its AGM will be held without physical
attendance of shareholders. urn:newsml:reuters.com:*:nFWN2BC05O
* Comet Holding COTNE.S said it generated net income of
12.0 million Swiss francs last year, in line with the
year-earlier level, and would propose a dividend of 1.00 franc
per share. It said the coronavirus made it impossible to provide
an outlook for this year. COTNE.S
* IGEA Pharma IGPH.S said demand for dry aerosol devices
is exploding due to the coronavirus outbreak in Italy and
announced it is enhancing production capacities. urn:newsml:reuters.com:*:nEQ6wLfm2a
* Metall Zug METN.S increased sales by 1.7 % to 1.22
billion Swiss francs due to acquisitions, while the operating
result was impacted largely by costs and lost income resulting
from the ERP transition at V-ZUG. METN.S
* Valora VALN.S said it would postpone its annual general
meeting initially scheduled for March 24. A new date will be
communicated in due time. VALN.S
* Zur Rose Group ROSEG.S said its net loss widened to 52.4
million francs in 2019 due to increased write-offs in connection
with the companies acquired. It said it aimed to break even in
2020 at the EBITDA level after adjusting for expenditure on
additional growth initiatives. ROSEG.S
* Cassiopea SKIN.S said it is being forced to do a capital
increase in the range of 15-20 million euros at the latest by
end of May because Italian law forbids companies from operating
with negative equity. It is considering asking external
investors for money or a rights offering with existing
investors. SKIN.S
* Lastminute.com LMN.S said it has seen a sharp decline in
booking from mid-February to and from Italy due to the
coronavirus and expects the situation to continue for some time,
adding the epidemic's impact on financial results cannot be
reliably assessed. LMN.S
ANALYSTS' VIEWS
ADECCO ADEN.S - Credit Suisse cuts target price to chf 30
from chf 48
GALENICA GALE.S - Credit Suisse raises target price to chf
61 from chf 56
RICHEMONT CFR.S - Credit Suisse cuts target price to chf
52 from chf 69
OC OERLIKON OERL.S - RBC cuts target price to chf 8.60
from chf 12
SCHINDLER SCHP.S - RBC cuts to underperform from sector
perform; cuts price target to chf 205 from chf 240
SWISSCOM AG SCMN.S : JEFEFRIES RAISES TARGET PRICE TO CHF
460 FROM CHF 432
ECONOMY
* The publication of the Swiss government's economic
forecast has been postponed to 1300 GMT.
* Switzerland ran a merchandise trade surplus of 3.573
billion Swiss francs in February, the Federal Customs Office
said on Thursday. urn:newsml:reuters.com:*:nS8N2A0029
* Swiss watch exports fell 9.2% in February with very sharp
declines in Hong Kong and mainland China.
(Reporting by Zurich newsroom and Berlin Speed Desk)
((+41 58 306 7336; zurich.newsroom@thomsonreuters.com))
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