April 29, 2020 / 4:53 AM / a month ago

Swiss stocks - Factors to watch on April 29

ZURICH/BERLIN, April 29(Reuters) - The Swiss blue-chip SMI was seen opening 0.5% higher at 9,985 points on Wednesday, according to premarket indications by bank Julius Baer.

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

CORONAVIRUS

Swiss Finance Minister Ueli Maurer wants to use payouts from the Swiss National Bank exclusively to cut debt that will swell as the country ramps up borrowing to spur an economy hit hard by the coronavirus pandemic, he told a newspaper.

NOVARTIS

The company won a new European approval for its inflammation drug Cosentyx in a form of arthritis, as the Swiss drugmaker predicts broadening use of its top-selling medicine will eventually push annual sales beyond $5 billion.

AMS

The sensor specialist expects the impact from the coronavirus in the second quarter to be limited, as it reported first-quarter revenues within the upper half of its own forecast.

COMPANY STATEMENTS

* EPH Property reported a 2019 net profit attributable to shareholders of $40.68 million.

* Kudelski and CoreKinect announced the launch of a joint solution enabling hospitals, government agencies and NGOs to track assets in the fight against the coronavirus pandemic.

* Mobimo named Warteck Invest’s Stefan Hilber as next Chief Financial Officer.

* Crispr Therapeutics AG reported quarterly total collaboration revenue of $0.2 million.

* Eeii AG reported full-year net profit of 2.8 million Sfr.

* EFG International names Martin Freiermuth Chief Operating Officer from mid-August.

* Schindler to provide elevators at Frankfurt Airport’s Terminal 3.

* Daetwyler sells civil engineering business to management team.

ANALYSTS’ VIEWS

NOVARTIS AG: JP MORGAN CUTS TARGET PRICE TO CHF 84 FROM CHF 91; BARCLAYS RAISES TARGET PRICE TO CHF 75 FROM CHF 70

OC OERLIKON CORPORATION AG PFAEFFIKON: BAADER HELVEA CUTS TO “REDUCE” FROM “ADD”; CUTS TARGET PRICE TO CHF 7 FROM CHF 12.50

COMPAGNIE FINANCIERE RICHEMONT: MORGAN STANLEY CUTS TARGET PRICE TO CHF 61 FROM CHF 65

ABB LTD: MORGAN STANLEY CUTS TARGET PRICE TO CHF 16 FROM CHF 16.50

ECONOMY

* Swiss April investor sentiment due at 0800 GMT (Reporting by Zurich newsroom and Berlin Speed Desk)

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