ZURICH/BERLIN, March 25 (Reuters) - The Swiss blue-chip SMI was seen opening 1.1% higher at 8,832 points on Wednesday, according to premarket indications from bank Julius Baer.
Here are some of the main factors that may affect Swiss stocks:
Democrats and Republicans in the divided U.S. Congress said they were close to a deal on a $2 trillion stimulus package to limit the coronavirus pandemic’s economic toll.
New York state suffered another quick rise in the number of cases as California said it could be facing the next major wave of the disease.
Mainland China reported a drop in new confirmed coronavirus cases as imported infections fell and no locally transmitted infections were reported, including in central Hubei province, the epicentre of the outbreak in China.
The surveillance scandal at Credit Suisse cost former Chief Executive Tidjane Thiam part of his bonus in 2019, as his overall compensation fell 15% to 10.7 million Swiss francs ($10.92 million), the Swiss bank’s annual report showed on Wednesday.
Annual general meeting due
* Swatch Group : executives bought shares worth 165 million Swiss francs in March, according to information on SIX Group’s website.
* ALSO confirmed its 2020 sales target, pointing to increased requirements of hardware, software and services due to home-based activities such as teleworking.
* Vontobel said it completed its acquisition of the U.S. asset management portfolio from Lombard Odier.
* ASMALLWORLD AG said Michael Manz has been nominated to replace Patrick Liotard-Vogt as chairman at the April 17 AGM.
* Georg Fischer will hold its AGM on April 15, but said shareholders are obliged to delegate their voting rights
* Investis said it had reached all its IPO goals and increased its net profit to 70 million Swiss francs last year. It proposes a dividend of 2.35 francs per share.
* BACHEM HOLDING AG: CREDIT SUISSE RAISES TO NEUTRAL FROM UNDERPERFORM, RAISES TARGET PRICE TO 163 FRANCS FROM 124
* ZURICH INSURANCE GROUP AG: BERENBERG CUTS TARGET PRICE TO CHF 418.50 FROM CHF 477.90
* NESTLE SA: BERENBERG CUTS PRICE TARGET TO CHF 116 FROM CHF 122
* PSP SWISS PROPERTY AG PSPN.S: BERENBERG CUTS TARGET PRICE TO CHF 132 FROM CHF 160
* Swiss March investor sentiment due at 0900 GMT ($1 = 0.9801 Swiss francs) (Reporting by Zurich newsroom and Berlin Speed Desk)