Swiss stocks - Factors to watch on January 23

St Galler Kantonalbank AG

23/01/2020 05:58

BERLIN/ZURICH, Jan 23 (Reuters) - Here are some of the main
factors that may affect Swiss stocks on Thursday:
    
    SNB
    The Swiss National Bank will end negative interest rates "as
soon as we are able," governing board member Andrea Maechler
said on Wednesday, when asked about the central bank's
ultra-loose money policy aimed at preventing the Swiss franc's
overvaluation.  urn:newsml:reuters.com:*:nL8N29R5F3
    
    CANTONAL BANKS
    Moody's Investors Service today placed on review for
downgrade the Aaa long-term deposit and issuer ratings of
Zuercher Kantonalbank (ZKB) and the Aa1 long-term deposit and
senior unsecured ratings of St. Galler Kantonalbank (SGKB). The
rating action is linked to a re-assessment of the implications
for the credit profiles of the banks' respective guarantors, the
Canton of Zurich and the Canton of St. Gallen, of the very
sizeable contingent liabilities arising from deficiency
guarantees provided to each institution. Moody's expects to have
finalized its evaluation of the contingent liability risks
within three months and that the magnitude of a potential
downgrade will likely be limited, perhaps to one notch.
      
    COMPANY STATEMENTS
    * Credit Suisse Group said  CSGN.S  on Wednesday it has
appointed Brian Gudofsky, a veteran at the Swiss bank, global
head of technology, in its latest effort to reorganize the
investment banking division and grow its global practice in
tech.  urn:newsml:reuters.com:*:nL1N29R12H
    * Nebag  NBEN.S  announced a distribution of dividend of
0.50 Sfr per registered share  urn:newsml:reuters.com:*:nL8N29S0C5
    * Zuger Kantonalbank  ZUGER.S  reported full-year profit of
74.7 million Sfr  urn:newsml:reuters.com:*:nL8N29S0BR
    * Schlatter Industries  STRN.S  said 2019 net sales were
16.3% lower than previous year at 93.3 million Sfr.  urn:newsml:reuters.com:*:nFWN29R0UA
    
    
    ANALYSTS' VIEWS
    ZURICH INSURANCE GROUP AG  ZURN.S : HSBC raises to buy from
hold; raises target price to 480 Sfr from 355 Sfr 
    SIG COMBIBLOC GROUP AG  SIGNC.S : Goldman Sachs cuts to
"neutral" from "buy"; cuts price target to 15.50 Sfr from 16 Sfr
    
    
    ECONOMY
    No major economic data scheduled.
    

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