December 3, 2019 / 5:50 AM / 4 days ago

Swiss stocks - Factors to watch on December 3

BERLIN/ZURICH, Dec 3 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1% higher at 10,362 points on Tuesday, according to premarket indications by bank Julius Baer .

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

SCHMOLZ+BICKENBACH

Rival Schmolz+Bickenbach shareholders agreed to terms of a rescue plan on Monday, helping conclude a weeks-long power struggle over control of the money-losing Swiss steelmaker.

CREDIT SUISSE

A U.S. jury on Monday cleared a lead salesman for a Lebanese shipbuilding company of charges that he helped to defraud U.S. investors in bonds backed by the Mozambican government.

Jean Boustani, 41, was acquitted of the charges by a jury following a trial in federal court in Brooklyn, which shed new light on a corruption scandal that contributed to Mozambique’s debt default in 2016.

The case revolved around three contracts awarded by Mozambique to Boustani’s employer, Privinvest, to build a coastal defense system, a tuna fishing fleet and a shipyard. The projects were financed with nearly $2 billion in loans from Credit Suisse Group AG and Russian lender VTB.

COMPANY NEWS

* Lalique Group SA: announces exclusive licensing agreement to create fragrances for Brioni

* Zug Estates Holding AG: an additional special dividend from sale of Aglaya freehold apartments is to be proposed at both 2020 and 2021 general meetings

RESEARCH

Givaudan SA: JP Morgan raises target price to SFR 2860 from 2720

Zurich Insurance Group AG: Deutsche Bank raises target price to SFR 375 from 350

Addex Therapeutics: Van Leeuwenhoeck Institute calls stock substantially undervalued at the current share price of 1.61 francs, increases valuation to 12.00-13.10 per share

ECONOMY

* November CPI due at 0730 GMT. Seen -0.1% m/m and y/y

Reporting by Zurich newsroom and Berlin Speed Desk

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