Swiss stocks - Factors to watch on July 19

SFS AG

19/07/2019 06:13

ZURICH/BERLIN, July 19 (Reuters) - Here are some of the main
factors that may affect Swiss stocks on Friday:
    
    SGS  SSGN.S 
    The Swiss inspections group plans to trim its workforce by
2,000 across about 120 countries in a process of natural
attrition rather than sudden cuts or corporate restructuring,
company spokesman Daniel Rufenacht said on Thursday.
 urn:newsml:reuters.com:*:nL8N24J5VF
    For more click  SGSN.S 
      
    COMPANY STATEMENTS  E-CH 
    * SFS Group  SFSN.S  said group sales in the first half
increased 1.4% to 856 million Swiss francs, while net profit
fell slightly to 88.6 million francs as the company faced costs
from relocating a site in China.  SFSN.S 
    * BB Biotech  BION.S  said it had a second-quarter net loss
of 336 million francs compared to a loss of 98 million in the
year-ago period, as it said fears of U.S. government efforts to
block M&A transactions and cut drug prices weighed on investor
sentiment for biotech stocks.  BION.S 
    * Valora Holding  VALN.S  said H1 net profit rose to 27.4
million francs, from 18.8 million francs in the year earlier
period, helped by higher food sales and what it called "strong
momentum" in its pretzel business.  VALN.S 
    
    ANALYSTS' VIEWS
    RICHEMONT  CFR.S : RBC raised its price target to 93 francs,
from 85 francs, while Credit Suisse raised its price target to
69 francs, from 85 francs
    NOVARTIS  NOVN.S " CFRA raised its price target to 92
francs, from 86 francs, and cut its rating to "hold" from "buy"
    CREDIT SUISSE GROUP  CSGN.S : Citigroup cut its price target
to 16 francs, from 16.25 francs
    
    ECONOMY  M-CH 
    No economic data scheduled.
    

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