Swiss stocks - Factors to watch on March 9
09/03/2020 05:20
ZURICH/BERLIN, March 9 (Reuters) - Here are some of the main
factors that may affect Swiss stocks on Monday.
CORONAVIRUS
* The Swiss government is working on directing support to
companies hit by falling demand caused by the coronavirus
outbreak and will not adopt a broad stimulus programme, a top
official said. urn:newsml:reuters.com:*:nL8N2B009T
* Global share markets tumbled as panicked investors fled
headlong to bonds to hedge the economic trauma of the
coronavirus, and oil plunged more than 30% after Saudi Arabia
opened the taps in a price war with Russia. urn:newsml:reuters.com:*:nL4N2B211U
* Italy's financial markets will open as usual, but traders
are expecting a wild start to the week after the government
ordered a lockdown of large parts of the north of the country,
including the financial capital Milan, to fight the coronavirus.
urn:newsml:reuters.com:*:nL8N2B10MY
* Mainland China, outside Hubei province, reported no new
locally transmitted cases for the second straight day, as a
senior Communist Party official warned against reducing
vigilance against the disease and of the risk of social
stability. urn:newsml:reuters.com:*:nL4N2B205T
SWATCH UHR.S
The watchmaker is taking a "massive" hit from the outbreak
of the novel coronavirus that sharply affected business in major
market China, Chief Executive Nick Hayek said. urn:newsml:reuters.com:*:nL8N2B1064
Activist investor Veraison said it has a stake of less than
3% in the watchmaker, Finanz und Wirtschaft reported, citing an
interview with founder Gregor Greber and Chief Executive Andreas
Weigelt, who said they are in "dialogue" with Swatch's
management.
CREDIT SUISSE CSGN.S
Swiss market watchdog Finma has appointed Thomas Werlen,
former general counsel for drugmaker Novartis, to examine
supervisory aspects of Credit Suisse's surveillance of former
executives, Neue Zuercher Zeitung reported, citing people
familiar with the matter.
COMPANY STATEMENTS
* MCH Group MCHN.S said the coronavirus epidemic has
economic consequences for the fair company, including the
cancellation or postponement of events but does not endanger its
stability. urn:newsml:reuters.com:*:nFWN2AZ0VA
ECONOMY
* Swiss February jobless data due at 0645 GMT
(Reporting by Zurich newsroom and Berlin Speed Desk)
((+41 58 306 7336; zurich.newsroom@thomsonreuters.com))
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