Swiss stocks - Factors to watch on October 12
12/10/2020 05:52
ZURICH/BERLIN, Oct 12 (Reuters) - Here are some of the main
factors that may affect Swiss stocks on Monday:
LAFARGEHOLCIM LHN.S
The company faces a $270 million lawsuit in a U.S. court
over its indirect ownership of a plant in Cuba in potential
violation of the U.S economic embargo, the Tages-Anzeiger
newspaper reported
TOURISM INDUSTRY
The head of the Swiss tourism association, Martin Nydegger,
told the SonntagsZeitung newspaper he estimated that amid the
coronavirus pandemic overnight hotel stays next year would be
60-70% of the 2019 level and at most 80% in 2022. The sector
would recover fully only in 2023 or 2024, he said.
COMPANY STATEMENTS
* Tecan TECN.S : SIX said Tecan shares would be admitted to
the SMIM index on Oct. 16 as it adjusted indexes following the
takeover of Sunrise Communications. TECN.S
* Swissquote SQN.S : SIX said Swissquote shares would
change from SPI Small to SPI Mid on Oct. 16 as it adjusted
indexes following the takeover of Sunrise Communications.
SQN.S
ANALYSTS' VIEWS
TEMENOS AG TEMN.S : CREDIT SUISSE CUTS TARGET PRICE TO CHF
125 FROM CHF 155
ECONOMY
The Swiss National Bank's currency purchases are a defensive
measure to fend off an appreciation of the Swiss franc that
would harm the Swiss economy, the general manager of the Bank
for International Settlements (BIS) told a Swiss newspaper.
"The SNB does not have an exchange rate target. The demand
for Swiss francs is a side effect of the globally very loose
monetary policy," Agustin Carstens said in an interview with
Neue Zuercher Zeitung published on Saturday. urn:newsml:reuters.com:*:nL8N2H050B
Swiss government's economic forecast due at 0545 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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