June 28, 2019 / 4:54 AM / 4 months ago

Swiss stocks - Factors to watch on June 28

ZURICH/BERLIN, June 28 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 9,866 points on Friday, according to premarket indications by bank Julius Baer .

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

STOCK EXCHANGE

Switzerland on Thursday triggered measures to counter the European Commission’s refusal to extend recognition to Swiss stock markets, plunging the two sides deeper into a standoff over a stalled partnership treaty.

CREDIT SUISSE

The U.S. Federal Reserve placed conditions on Credit Suisse’s operations after finding weaknesses in its capital planning processes, sending New York-listed shares in the bank down on Thursday.

ALUFLEXPACK IPO

Packaging maker Aluflexpack set an issue price of 21 Swiss francs per share for its initial public offering that makes it the fourth company to launch a Swiss stock market flotation this year. It saw gross issuance proceeds of approximately 153.3 million francs by issuing 7.3 million new shares. Assuming a fully exercised greenshoe option, free float will be around 46.4%

EDMOND DE ROTHSCHILD (SUISSE)

Edmond De Rothschild Holding SA and associates control 99.59% of the share capital and 99.85% of the voting rights of Edmond de Rothschild (Suisse), according to provisional results of a tender offer

COMPANY STATEMENTS

* Peptidream said it had struck a peptide drug conjugate collaboration agreement with Novartis.

* Newron Pharmaceuticals SpA: reiterates guidance it gave at full-year results on March 5, 2019

ANALYSTS’ VIEWS

NESTLE - HSBC starts coverage with “hold” rating

VALORA HOLDING: Credit Suisse cuts target price to SFR 260 from 275

PSP SWISS PROPERTY: JP Morgan raises to neutral from underweight; price target of SFR 115

ECONOMY

June KOF indicator due at 0700 GMT. Seen at 94.9 points.

Reporting by Zurich newsroom and Berlin Speed Desk

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