Swiss stocks - Factors to watch on June 8
08/06/2020 05:53
ZURICH/BERLIN, June 8 (Reuters) - Here are some of the main
factors that may affect Swiss stocks on Monday:
UBS UBSG.S
An asset quality review and a stress test on subsidiaries of
UBS UBSG.S and Bank of America BAC.N revealed no capital
shortfall, the European Central Bank said, clearing a hurdle for
the banks to relocate activities to Europe from
Britain. urn:newsml:reuters.com:*:nF9N2BD01R
RIETER HOLDING RIEN.S
The textile machinery maker's Chief Executive Norbert
Klapper told NZZ https://www.nzz.ch/wirtschaft/rieter-chef-winterthur-ist-ein-wunderbarer-standort-ld.1559402
that so far 5% of orders have been cancelled in the wake of the
coronavirus pandemic, and he expects it to have a bigger market
share once the pandemic is over.
It will have to shorten working hours by around 40%, for
three months initially, in Germany and Switzerland as of early
July, he said.
MCH GROUP MCHN.S
The trade fair organiser cancelled this year's Art Basel
show, which was scheduled for September after having been
postponed from June. Without events until the end of the year
the firm can survive but layoffs are inevitable, Chief Executive
Bernd Stadlwieser was quoted as saying in SonntagsZeitung.
COMPANY STATEMENTS
* Compagnie Financiere Richemont CFR.S says it has
initiated a review of its human resources function, which may
have an impact on the composition of its senior executive
committee.
* Oerlikon Nonwoven OERL.S announced it has supplied
meltblown technology for Innovatec GmbH.
ANALYSTS' VIEWS
* FLUGHAFEN ZUERICH AG FHZN.S : Credit Suisse raises target
price to CHF 130 ($135.04) from CHF 115
* SWISS RE AG SRENH.S : RBC raises to outperform from
sector perform, raises target price to CHF 100 from CHF 80
ECONOMY
SNB sight deposits due at 0800 GMT.
($1 = 0.9627 Swiss francs)
(Reporting by Zurich newsroom and Berlin Speed Desk)
((+41 58 306 7336; zurich.newsroom@thomsonreuters.com))
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