Leonteq slips after 2022 profit expectations cut

Leonteq AG

27/12/2022 08:12

** Leonteq's  LEON.S  shares slide 2% after the Swiss
financial technology firm lowered its profit expectations for
2022 due to reduced client demand in the second half of the year
    ** Leonteq now expects 2022 group net profit "in the area"
of the prior year result of 155.7 million Swiss francs ($167.3
million), whereas it had previously expected to exceed the 2021
figure
    ** Leonteq also said it had reached a settlement in a legacy
case originally put forward by Old Mutual International
    ** The stock is at the bottom of the Swiss midcap index
 .SMIM  
    ($1 = 0.9305 Swiss francs)
 (Reporting by Andrey Sychev in Gdansk)
 ((Andrey.sychev2@thomsonreuters.com))