May 22, 2019 / 4:47 AM / a month ago

Swiss stocks - Factors to watch on May 22

ZURICH/BERLIN, May 22 (Reuters) - The Swiss blue-chip SMI was seen opening little changed at 9,620 points on Wednesday, according to premarket indications by bank Julius Baer.

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

CREDIT SUISSE

A former Credit Suisse banker pleaded guilty on Monday to a U.S. charge that she helped launder money from a kickback scheme involving $2 billion in loans to state-owned companies in Mozambique. Detelina Subeva, 37, pleaded guilty to one count of money laundering conspiracy before U.S. District Judge William Kuntz in Brooklyn, New York. Subeva is one of three Credit Suisse bankers charged by U.S. prosecutors in January with taking part in the scheme. Credit Suisse has said that the defendants hid their contact from the bank.

UBS

The bank is close to settling a tax evasion case with Italy for about 100 million euros ($111.5 million), Bloomberg reported.

SIX GROUP

SIX Group must pay a 7 million Swiss franc ($6.9 million)fine related to card payment transactions between 2005 and 2007, the Federal Administrative Court said, upholding a fine by the competition commission.

COMPANY STAEMENTS

* Novartis AG: Phase II data for new inhaled combination treatment (QVM149) demonstrates significant improvements over current standard-of-care inhaled treatment

* Lem Holding SA: FY sales increased by 6.8% to CHF 321.6 million; EBIT increased by 2.6% to 64.8 million; net was down by 3.8% at 52.4 million; dividend to be increased from CHF 40 to 42 per share

* Warteck Invest AG: plans to increase its share capital to finance further growth; to issue up to 49,500 shares with nominal value of CHF 10 each

* Zueblin Immobilien Holding AG: earnings of CHF 6.2 million in 2018/19 financial year; dividend of CHF 1.00 per share proposed

RESEARCH

SONOVA HOLDING AG: CREDIT SUISSE RAISES TARGET PRICE TO SFR 240 FROM SFR 225

AMS AG: JP MORGAN RAISES PRICE TARGET TO CHF 35 FROM CHF 31

TEMENOS AG: JEFFERIES RAISES PRICE TARGET TO CHF 120 FROM CHF 115

ECONOMY

No major Swiss economic data scheduled

($1 = 1.0116 Swiss francs)

$1 = 0.8965 euros Reporting by Zurich newsroom and Berlin Speed Desk

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