January 29, 2020 / 5:36 AM / a month ago

Swiss stocks - Factors to watch on Jan 29

ZURICH/BERLIN, Jan 29 (Reuters) - The Swiss blue-chip SMI was seen opening broadly unchanged at 10,785 points on Wednesday, according to premarket indications by bank Julius Baer.

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

NOVARTIS

Fourth-quarter core net income rose 13% in constant currencies, helped as its new Zolgensma gene therapy gained traction and five-year-old drugs Cosentyx and Entresto added to their blockbuster status, the company said.

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COMPANY STATEMENTS

* Lonza said it signed a clinical manufacturing agreement with Rocket Pharmaceuticals Inc. for the development and manufacturing for LAD-I, a phase 1/2 candidate for the treatment of Leukocyte Adhesion Deficiency-I.

* Rieter Holding reported its full year sales down 29% to 760 million Swiss francs.

* Emmi reported net sales of 3.45 billion Swiss francs for 2019.

ANALYSTS’ VIEWS

GIVAUDAN - Moody’s affirms Baa1 rating, changes outlook to “negative”

SGS - Jefferies raises target price to 2,600 francs from 2,350 francs, Credit Suisse to 2,750 francs from 2,600 francs, Barclays to 2,750 francs from 2,600 francs.

BARRY CALLEBAUT - Barclay s cuts its rating to equalweight from overweight.

ECONOMY

* Swiss January investor investment due at 0900 GMT (Reporting by Zurich newsroom and Berlin Speed Desk)

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