May 4, 2020 / 5:26 AM / 25 days ago

Swiss stocks - Factors to watch on May 4

ZURICH/BERLIN, May 4 (Reuters) - The Swiss blue-chip SMI was seen opening 2.6% lower at 9,384 points on Monday, according to premarket indications by bank Julius Baer .

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


The company has won emergency approval from the U.S. Food and Drug Administration (FDA) for an antibody test to determine whether people have ever been infected with the coronavirus.

It also aims to more than double production of its new coronavirus antibody test to “significantly more than” 100 million tests a month by the end of the year, Roche’s diagnostics unit head told Reuters.

ABB New Chief Executive Bjorn Rosengren is determined to decentralise the Swiss engineering group to improve its performance, he told Swiss newspaper Neue Zuercher Zeitung in an interview.


* Swisscom Fastweb CEO Alberto Calcagno told Italian newspaper Il Sole 24 he thought it was unlikely Swissccom would sell the business. “We have just posted our 27th quarter of growth. The numbers say how important we are within the universe of Swisscom,” Calcagno said.

* GAM Holding AG said it put in place a programme to give it the option to buy back shares over a three-year period, but had currently no plans to buy back shares in light of the market environment.

* Relief Therapeutics said its net loss widened to 7.46 million Swiss francs last year, compared to a loss of 436,000 francs in 2018.

* Zur Rose Group said a public prosecutor has filed charges against its CEO in connection with mail-order of non-prescription drugs and electronic prescribing. It denies the accusations and says the proceedings will have no effect on its current business performance.

* IGEA said it will partner with Acalis For ALZ1 wholesale distribution in the U.S.

* Bellevue Group said it has successfully closed the sale of Bank AM Bellevue to Quintet.

* Julius Baer said it excercised option to redeem outstanding perpetual tier 1 bonds issued on June 5, 2015 at par value plus accrued interest.

* Newron Pharmaceuticals is abandoning development of its drug sarizotan for Rett Syndrome.

* Aryzta said it got permission from lenders to amend its covenants as it seeks to preserve cash and reduce costs during the coronavirus crisis.

* Dufry said it proposed Mary Guilfoyle for its board, to replace Andres Neumann. Neumann plans to stay on the board of U.S.-listed Hudson Ltd.


JULIUS BAER GRUPPE: Citigroup raises price target to 38 Swisse francs to 35.5 Swiss francs

UBS GROUP AG: Berenberg cuts to hold from buy, raises target price to 11 Swiss francs from 10.50 Swiss francs.

GEBERIT AG: Jefferies raises target price to 344.80 Swiss francs from 339.30 Swiss francs; Credit Suisse raises to neutral from underperform, cuts target price to 450 Swiss francs from 470 Swiss francs

STRAUMANN HOLDING AG: Credit Suisse cuts target price to 870 Swiss francs from 1030 Swiss francs

LEONTEQ AG: Credit Suisse cuts target price to 43 Swiss francs from 51 Swiss francs


Roughly 64% of hotel, restaurant, tourism and cable car businesses that have received emergency loans say they can only cover their fixed costs until the end of June, a poll by those sectors’ Swiss trade groups published on Friday said.

* Swiss April Manufacturing PMI due at 0730 GMT.

* SNB sight deposits due at 0800 GMT. (Reporting by Zurich newsroom and Berlin Speed Desk)

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