October 23, 2019 / 4:16 AM / 21 days ago

Swiss stocks - Factors to watch on October 23

ZURICH/BERLIN, Oct 23 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4% lower at 9,982 points on Wednesday, according to premarket indications by bank Julius Baer.

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

ABB

The Swiss maker of factory robots and circuit breakers reported a 15% drop in third-quarter profit on Wednesday after downgrading the value of some projects and said market conditions were weakening in the United States.

SCHMOLZ + BICKENBACH

Switzerland’s Schmolz + Bickenbach is planning a capital hike of up to 350 million Swiss francs ($353.75 million) and slashed its full-year forecast yet again after saying it had become trapped in a steel industry crisis.

COMPANY STATEMENTS

* Calida said it received a binding offer for its Eider brand from South Korea’s K2 Group.

* Meyer Burger said it received a further partial order from Oxford PV for about 18 million Swiss francs and sold a building in Thun. Separately, proxy advisor Glass Lewis said it recommended to elect Mark Kerekes to the board of Meyer Burger.

* Swiss Prime Site confirmed its full-year targets

* Sulzer said order intake in the third quarter rose 6.7% to 925 million Sfr

* Zur Rose Group said revenue rose 30% in the first nine months of 2019 and confirmed its 2022 outlook

* New Venturetec will delist from the SIX Swiss Exchange on Nov. 1 amid its liquidation

ANALYSTS’ VIEWS

NESTLÉ - Moody’s downgrades to Aa3; stable outlook

KUEHNE&NAGEL - Berenberg upgrades to “hold” from “sell”

ECONOMY

No major Swiss economic data scheduled (Reporting by Zurich newsroom and Berlin Speed Desk)

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