April 3, 2019 / 4:58 AM / 7 months ago

Swiss stocks - Factors to watch on April 3

ZURICH/BERLIN, April 3 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 9,548 points on Wednesday, according to premarket indications by bank Julius Baer.

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

JULIUS BAER

The private bank’s shares will drop out of the Swiss blue-chip SMI index as of April 10, replaced by Novartis spin-off Alcon’s shares.

Shares indicated down 1.4 percent

ROCHE

Roche has extended until May 2 its $4.3 billion offer for U.S. gene therapy specialist Spark Therapeutics, the Swiss drugmaker said after getting only 29.4 percent of Spark’s shares in a tender originally due to end on Wednesday.

VONTOBEL

The private bank said bit.ly/2uGGQoz it saw a more subdued start to the year than in 2018 and expected the market environment to remain very challenging with continued pressure on margins in 2019. It confirmed however it was on track to meet its 2020 targets.

MEDACTA

The final pricing guidance for the company’s IPO is 96 Swiss francs per share, the bookrunner said, adding that books are several times oversubscribed.

CREDIT SUISSE

Credit Suisse named Chris Rice as global head of execution strategy, Business Insider reported.

GEBERIT

AGM due

ZURICH INSURANCE

AGM due

COMPANY STATEMENTS

* Aryzta shares will drop out of the SMIM index as of April 10, SIX Swiss Exchange said.

* Novartis AG: Sandoz resubmits biosimilar pegfilgrastim application to U.S. FDA

* Santhera Pharmaceuticals Holding AG: preparing for issuance of up to 500,000 registered shares, representing 4.7% of its currently outstanding share capital; has taken out a syndicated credit line which, subject to certain conditions, will provide up to CHF 15.0 million over a time period of nine months

* Dufry shares will drop out of the SLI index as of April 10, SIX Swiss Exchange said.

* Lonza and Chr. Hansen said they struck a joint venture to accelerate momentum in microbiome with a phased investment of approximately 90 million euros to be shared equally between the partners over three years.

* Meyer Burger named four candidates for the election to the board of directors.

* Mobimo Holding named Peter Schaub as chairman of the board of directors.

* Varia US Properties Ltd: FY total income of USD 100.8 MILLION (+14.3%)

RESEARCH

BALOISE HOLDING AG: DEUTSCHE BANK CUTS TO HOLD FROM BUY; RAISES TARGET PRICE TO SFR 170 FROM SFR 167

PANALPINA WELTTRANSPORT HOLDING: RBC RAISES TO SECTOR PERFORM FROM UNDERPERFORM; RAISES PRICE TARGET TO SFR 215 FROM SFR 140

IMPLENIA AG: HSBC CUTS TARGET PRICE TO SFR 34 FROM SFR 40; RATING HOLD

JULIUS BAER GRUPPE AG: MORGAN STANLEY RAISES TARGET PRICE TO SFR 47 FROM SFR 44

UBS GROUP AG: MORGAN STANLEY CUTS TARGET PRICE TO SFR 14 FROM SFR 17

UBS GROUP AG UBSG.S: RBC CUTS PRICE TARGET TO SFR 14 FROM SFR 15.5

CREDIT SUISSE GROUP AG: RBC CUTS PRICE TARGET TO SFR 14 FROM SFR 14.5

SONOVA HOLDING AG: CREDIT SUISSE RAISES TARGET PRICE TO SFR 225 FROM SFR 200

ECONOMY

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

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