July 24, 2018 / 4:57 AM / a year ago

Swiss stocks - Factors to watch on July 24

ZURICH, July 24 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent higher at 8,985 points on Tuesday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks:


Switzerland’s biggest bank on Tuesday posted a 1.3 billion Swiss franc ($1.31 billion) net profit for the second quarter of 2018, beating analyst expectations, as it said global economic growth prospects provided a supportive backdrop to markets.

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The Swiss chocolate maker said it was on track to reach its growth target this year after organic growth accelerated in the first half, helped by an improvement in the challenging North American market.

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* Baloise said it was acquiring a stake in the automotive direct comparison service Carhelper by way of a share capital increase.

* Cembra Money Bank said net profit rose 12 percent to 77.7 million Swiss francs in the first half of 2018. It also raised its expectations for earnings per share for 2018.

* DKSH said it signed an agreement that makes it the exclusive distributor of ABITEC’s range of lipid-based excipients and nutritional supplements in Thailand, Spain and Portugal.

* Dufry said it was expanding its footprint in Australia by signing a new contract at Perth Airport.

* Idorsia reported a UBS GAAP operating loss of 155 million Swiss francs in the first half.

* Kuehne + Nagel said it was selected by Malaysia’s Petronas as its end-to-end logistics partner.

* Mikron Group said its business performance improved in the first half of 2018 and it now expects an increase in sales of around 25 percent for the first six months of 2018 .

Reporting by Zurich newsroom

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