July 17, 2019 / 5:25 AM / 4 months ago

Swiss stocks - Factors to watch on July 17

ZURICH/BERLIN, July 17 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent lower at 9,840 points on Wednesday, according to premarket indications by bank Julius Baer.

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

SWATCH GROUP

The maker of Tissot, Longines and Swatch timepieces reported a 11.3% profit fall in first half of 2019 as the Swiss watch manufacturer’s sales fell and profitability was squeezed.

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COMPANY STATEMENTS

* Bucher Industries must pay around 150,000 Swiss francs as a penalty after the Swiss competition authority found its tractor division engaged in prohibited behavior regarding spare parts that hurt imports

* Leonteq said that Raiffeisen plans to keep its 29% stake.

* VAT Group said Chief Executive Mike Allison would lead operational activities on an interim basis after the departure of COO Juergen Krebs.

* Polyphor said it is closing its late-state Prism MDR and UDR studies of intravenous murapavadin, which had been on temporary hold, on acute kidney injury concerns. It is looking to improve the intravenous formulation, and continuing work on an inhaled program, among other activities. (Reporting by Zurich newsroom and Berlin Speed Desk)

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