July 8, 2020 / 4:52 AM / a month ago

Swiss stocks - Factors to watch on July 8

ZURICH/BERLIN, July 8 (Reuters) - The Swiss blue-chip SMI was seen opening 0.6% lower at 10,148 points on Wednesday, according to premarket indications from bank Julius Baer.

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

CORONAVIRUS

The World Health Organization on Tuesday acknowledged “emerging evidence” of the airborne spread of the novel coronavirus, after a group of scientists urged the global body to update its guidance on how the respiratory disease is spread.

COMPANY STATEMENTS

* Nestle said its Nespresso unit is investing 160 million Swiss francs to expand production in Romont

* Sunrise Communications said Giuseppe Bonina was named new Chief Consumer Officer (CCO) and Christoph Richartz as new Chief YOL Officer (CYO) and member of the Executive Leadership Team

* Vifor Pharma is seeing an impact of the COVID-19 pandemic on its business, CEO Stefan Schulze told news portal The Market. He said the sales process for OM Pharma was going ahead as planned.

* Asmallworld said it expected growth and positive EBITDA for the first half of 2020.

* VP Bank took over the private banking business of Öhman Bank S.A. in Luxembourg and said it was further expanding its Nordics business.

* Cosmo Pharmaceuticals said it received marketing authorization in Italy for Rifamycin SV MMX

* Kardex expects a decline in bookings and earnings

ANALYSTS’ VIEWS

* UBS GROUP AG: JP MORGAN RAISES PRICE TARGET TO CHF 13 FROM CHF 12

* IDORSIA LTD: JP MORGAN INITIATES WITH NEUTRAL RATING AND SFR 34 PRICE TARGET

* CREDIT SUISSE GROUP AG: MORGAN STANLEY RAISES TARGET PRICE TO CHF 12 FROM CHF 11

ECONOMY

Switzerland’s unadjusted unemployment rate fell to 3.2% in June from 3.4% a month earlier, the Swiss government said on Wednesday, still leaving nearly 55% more people out of work than this time in 2019 as the COVID-19 pandemic drags on the economy. (Reporting by Zurich newsroom and Berlin Speed Desk)

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