April 24, 2020 / 5:00 AM / a month ago

Swiss stocks - Factors to watch on April 24

ZURICH/BERLIN, April 24(Reuters) - The Swiss blue-chip SMI was seen opening 1.0% lower at 9,534 points on Friday, according to premarket indications by bank Julius Baer

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

NESTLE

Nestle reported a 4.3% rise in organic sales growth for the first quarter as consumers filled cupboards with Purina pet food and Poland Spring water to prepare for lockdowns caused by the coronavirus pandemic. Nestle also said it is launching a 500 million Swiss franc programme to help its food service suppliers during the coronavirus crisis, by extending payment terms and suspending rental fees for coffee machines. The company also said it was keeping its outlook for the year.

SWATCH

Swatch Group’s sales at its own stores in China are up by almost a quarter during April, Chief Executive Nick Hayek told Blick newspaper, but the global situation following the coronavirus outbreak remains tough.

COMPANY STATEMENTS

* Dufry places 5.5 million new and treasury shares at 27.50 Sfr each, sells 350 million Sfr convertible bond

* BB Biotech AG: Q1 net loss CHF 758 mln (profit of CHF 890 mln in same period 2019)

* Gurit Holding said CEO Rudolf Hadorn had decided to step down as CEO at the end of March 2021 and was set to become chairman in 2022.

* Huber+Suhner AG said it was suspending guidance for the 2020 financial year has been suspended.

* Ascom Holding AG: agreed with a renowed retailer in the UK a contract renewal with a value of CHF 2.5 million

ANNUAL GENERAL MEETINGS

LINDT & SPRUENGLI - 1,750 CHF/shr dividend proposed

SWISS NATIONAL BANK - 15 CHF/shr dividend proposed

ANALYSTS’ VIEWS

* CREDIT SUISSE GROUP AG: JP MORGAN CUTS TARGET PRICE TO CHF 11 FROM CHF 12

SULZER AG: BAADER HELVEA CUTS TO ADD FROM BUY; CUTS TARGET PRICE TO CHF 90 FROM CHF 135

EVOLVA HOLDING SA: BERENBERG CUTS TARGET PRICE TO CHF 0.18 FROM CHF 0.20

VZ HOLDING AG: CREDIT SUISSE RAISES TARGET PRICE TO CHF 60 FROM CHF 58.40

ECONOMY

No major economic data scheduled. (Reporting by Zurich newsroom and Berlin Speed Desk)

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