Swiss stocks - Factors to watch on May 4

Newron Pharmaceuticals SpA

04/05/2020 06:23

ZURICH/BERLIN, May 4 (Reuters) - Here are some of the main
factors that may affect Swiss stocks on Monday:
    
    ROCHE  ROGN.S 
    The company has won emergency approval from the U.S. Food
and Drug Administration (FDA) for an antibody test to determine
whether people have ever been infected with the coronavirus.
 urn:newsml:reuters.com:*:nL8N2CL00Z
    It also aims to more than double production of its new
coronavirus antibody test to "significantly more than" 100
million tests a month by the end of the year, Roche's
diagnostics unit head told Reuters.  urn:newsml:reuters.com:*:nFWN2CJ0OJ
    
    ABB  ABBN.S 
   New Chief Executive Bjorn Rosengren is determined to
decentralise the Swiss engineering group to improve its
performance, he told Swiss newspaper Neue Zuercher Zeitung in an
interview.  urn:newsml:reuters.com:*:nL8N2CJ3UU
      
    COMPANY STATEMENTS
    * Swisscom  SCMN.S   Fastweb CEO Alberto Calcagno told
Italian newspaper Il Sole 24 he thought it was unlikely
Swissccom would sell the business. "We have just posted our 27th
quarter of growth. The numbers say how important we are within
the universe of Swisscom," Calcagno said.
    * GAM Holding AG  GAMH.S  said it put in place a programme
to give it the option to buy back shares over a three-year
period, but had currently no plans to buy back shares in light
of the market environment.  GAMH.S 
    * Relief Therapeutics  RLFB.S  said its net loss widened to
7.46 million Swiss francs last year, compared to a loss of
436,000 francs in 2018.  RLFB.S 
    * Zur Rose Group  ROSEG.S  said a public prosecutor has
filed charges against its CEO in connection with mail-order of
non-prescription drugs and electronic prescribing. It denies the
accusations and says the proceedings will have no effect on its
current business performance.  ROSEG.S 
    * IGEA  IGPH.S  said it will partner with Acalis For ALZ1
wholesale distribution in the U.S.  urn:newsml:reuters.com:*:nFWN2CL034
    * Bellevue Group  BBN.S  said it has successfully closed the
sale of Bank AM Bellevue to Quintet.
    * Julius Baer  BAER.S  said it excercised option to redeem
outstanding perpetual tier 1 bonds issued on June 5, 2015 at par
value plus accrued interest.
    * Newron Pharmaceuticals  NWRN.S  is abandoning development
of its drug sarizotan for Rett Syndrome. 
    * Aryzta  ARYN.S  said it got permission from lenders to
amend its covenants as it seeks to preserve cash and reduce
costs during the coronavirus crisis.

    ANALYSTS' VIEWS
    
    JULIUS BAER GRUPPE BAER.S : Citigroup raises price target to
38 Swisse francs to 35.5 Swiss francs
    UBS GROUP AG  UBSG.S : Berenberg cuts to hold from buy,
raises target price to 11 Swiss francs from 10.50 Swiss francs.
    GEBERIT AG GEBN.S : Jefferies raises target price to 344.80
Swiss francs from 339.30 Swiss francs; Credit Suisse raises to
neutral from underperform, cuts target price to 450 Swiss francs
from 470 Swiss francs    
    STRAUMANN HOLDING AG STMN.S : Credit Suisse cuts target
price to 870 Swiss francs from 1030 Swiss francs
    LEONTEQ AG LEON.S : Credit Suisse cuts target price to 43
Swiss francs from 51 Swiss francs
    
    ECONOMY
    Roughly 64% of hotel, restaurant, tourism and cable car
businesses that have received emergency loans say they can only
cover their fixed costs until the end of June, a poll by those
sectors' Swiss trade groups published on Friday said.
    
    * Swiss April Manufacturing PMI due at 0730 GMT.
    * SNB sight deposits due at 0800 GMT.

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