October 17, 2019 / 5:02 AM / a month ago

Swiss stocks - Factors to watch on October 17

ZURICH/BERLIN, Oct 17 (Reuters) - The Swiss blue-chip SMI was seen opening 0.5% higher at 10,033 points on Thursday, according to premarket indications by bank Julius Baer .

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

NESTLE

The food group announced a new share buyback programme of up to 20 billion Swiss francs ($20.13 billion) and changes to its waters business after organic sales growth slowed slightly to 3.7% in the third quarter

Shares indicated up 0.6%

COMPANY STATEMENTS

* GAM Holding AG: AUM totalled CHF 135.7 billion as at 30 September 2019, down from CHF 136.1 billion as at 30 June 2019; we reiterate our 2019 guidance of underlying pre-tax profit to be materially lower than in 2018

* Temenos: the financial software company confirmed its 2019 guidance, saying it still expected its full-year operating profit to be $310-315 million, after its non-IFRS earnings before interest and tax increased 16% to $79.1 million in the third quarter.

* DKSH Holding AG: has entered into a partnership with Mondelez International for the snack and confectionery business in Cambodia

* Swiss watch exports rise nominal 10.2% in Sept

ANALYSTS’ VIEWS

KUEHNE UND NAGEL - Goldman Sachs cuts to “sell” from “neutral”.

ECONOMY

Swiss trade surplus widens to 4.02 bln Sfr in September (Reporting by Zurich newsroom and Berlin Speed Desk)

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