August 26, 2019 / 4:47 AM / 3 months ago

Swiss stocks - Factors to watch on August 26

ZURICH/BERLIN, Aug 26 (Reuters) - The Swiss blue-chip SMI was seen opening 1% lower at 9,646 points on Monday, according to premarket indications by bank Julius Baer .

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

CREDIT SUISSE

Credit Suisse will invest hundreds of millions of francs in its Swiss division including for digital services by the end of 2021, Switzerland’s second-biggest bank said on Monday, as it plans to revamp branches in its home country.

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TRADE

Switzerland and other EFTA countries agreed on a free trade agreement with Mercosur countries Argentina, Brazil, Paraguay and Uruguay that could ultimately lead to savings of over 180 million Swiss francs in import duties.

Switzerland’s Socialist party and the Greens criticised the deal in light of the fires ravaging Brazil’s Amazon region, SonntagsZeitung reported.

UBS

The lender and Deutsche Bank held talks about combining their businesses earlier this year, including discussions in mid-June about an investment banking alliance, the Wall Street Journal reported.

COMPANY STATEMENTS

* Alpiq said it confirmed its 2019 outlook after it generated an EBITDA before exceptional items of 55 million Swiss francs. bit.ly/2NwDjnx

* Wisekey said it has submitted a confidential draft registration statement to the U.S. Securities and Exchange Commission following the board of directors approval of a proposed listing of its Class B Shares in the form of American Depositary Shares on a U.S. stock exchange.

* Ems Chemie said its final half-year report contained no significant deviations from the provisional report published in July and announced executive board member Urs Zimmerli would leave the group for personal reasons by the end of February 2020. bit.ly/2LbA2qL

* Panalpina Welttransport announced several managers have resigned and said the executive board will be downsized.

* Schaffner adjusted its outlook for its fiscal year 2018/2019 pointing to a slowdown in momentum in key submarkets, the automotive industry and the exchange rate situation.

ECONOMY

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

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