July 1, 2020 / 4:41 AM / 6 days ago

Swiss stocks - Factors to watch on July 1

ZURICH/BERLIN, July 1 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3% lower at 10,018 points on Wednesday, according to premarket indications by bank Julius Baer.

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

CORONAVIRUS

Asian stocks struggled for headway as the second half of the year got underway, with improving economic data offset by worries that surging coronavirus cases in the United States could derail the world’s recovery before it properly begins.

BANKING

Switzerland and Britain have signed a joint statement pledging to deepen their cooperation in the area of financial services like cross-border trading in shares, their finance ministers said.

UBS

The lender, long the dominant bank in Australian equities markets, has closed the first half year outside the top three for the first time in 15 years, even as a rush of coronavirus-related share sales have generated bumper investment banking fees.

ALPIQ

Activist investor Knight Vinke has lined up other shareholders to sue Swiss electricity group Alpiq over its payout to minority shareholders following a takeover, Chief Executive Eric Knight told a newspaper.

COMPANY STATEMENTS

* Clariant: completes the sale of its masterbatches business to Polyone for around $1.6 billion; closing satisfies condition for extraordinary distribution of CHF 3.00 per share

* Barry Callebaut AG: completes acquisition of GKC Foods in Australia

* Implenia said it won orders worth almost 200 million Swiss francs.

* SHL Telemedicine said shareholders approved Erez Nachtomy’s terms of office as an acting CEO of the company at a special general meeting.

* Metall Zug said its Schleuniger unit signed an agreement to acquire U.S. company Cirris Systems, which has 75 employees and generated sales of $13.5 million in 2019.

* Medacta announced the first surgeries in the U.S. and Europe with its Quadra-P Collared and Quadra-P Cemented femoral stems.

* Novavest Real Estate AG: extends property portfolio by around CHF 66 million

* Helvetica Property Investors AG: HSL fund acquires five apartment buildings, this increases the fund volume to over CHF 123 million

* Obseva SA: Obseva and Yuyuan Bioscience Technology announce submission of pre-ind dossier for nolasiban with Chinese NMPA

ANALYSTS’ VIEWS

Swiss Re AG: Barclays cuts target price to CHF 91 from 94

Givaudan SA: Deutsche Bank raises target price to CHF 3000 from 2700

Logitech International SA: Citigroup raises price target to $73 from $60

Swatch: Citigroup cuts price target to CHF 192 from 210

ECONOMY

Swiss June manufacturing PMI due at 0730 GMT, seen at 48.3 (Reporting by Zurich newsroom and Berlin Speed Desk)

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