May 23, 2018 / 4:30 AM / 3 months ago

Swiss stocks - Factors to watch on May 23

ZURICH, May 23 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent lower at 8,915 points on Wednesday, according to premarket indications by bank Julius Baer .

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

JULIUS BAER

The Swiss private bank on Wednesday said its assets under management rose 3 percent in the first four months of 2018 to 401 billion Swiss francs ($404 billion).

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COMPANY STATEMENTS

* Cosmo Pharmaceuticals said that it received a complete response letter consistent with the U.S. Food and Drug Administrations's feedback earlier thi smonth in which the agency determined it could not approve the company's Methylene Blue.

* LEM Holding said fourth-quarter net profit rose 28 percent to 15.3 million francs.

* Vifor Pharma said it is working with Cara Therapeutics to develop an injection for a chronic kidney disease called associated pruritus.

* CPH Chemie Und Papier Holding has acquired sales activities for molecular sieves in China from Shanghai Yusheng Chemical Co. Ltd.

ECONOMY

* Swiss National Bank Board Member Andrea Maechler said in Le Temps that if Swiss voters said yes to a sovereign money initiative on Sunday that could lead to inflation.

Reporting by Zurich newsroom

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