October 24, 2019 / 4:49 AM / 7 months ago

Swiss stocks - Factors to watch on October 24

ZURICH/BERLIN, Oct 24 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2% higher at 10,042 points on Thursday, according to premarket indications by bank Julius Baer .

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


The Swiss chemicals and adhesives producer posted a 10.6% rise in operating profit during the first nine months of the year, and confirmed its full-year revenue target.


The Swiss elevator and escalator manufacturer said on Thursday its third-quarter net profit rose 6.1% from the previous year to 244 million Swiss francs ($246 million), citing strong growth in the Asia-Pacific region that includes high-rise projects in China.


* Novartis got a label update for Cosentyx dosing in ankylosing spondylitis, a form of arthritis in which painful inflammation of the spine can lead to new bone formation, causing segments to fuse in an immobile position.

* Hochdorf Group said a syndicated loan was extended until 2023 and that it got an additional 30 million franc credit facility, as the struggling Swiss dairy company focuses its business and seeks to sell off foreign units following an ill-fated expansion that led to losses.

* VAT Group continues to expect 2019 net income to fall below the previous year, but says sales in the current quarter are seen returning to year-on-year growth.

* Bucher Industries said nine-month orders fell 6% to 2.22 billion Swiss francs, as the maker of everything from agricultural implements to wine presses said difficult conditions for farmers weighed.

* Huber+Suhner said its sales after the first three quarters fell 5% to 648.7 million francs as the Chinese train market stuttered, but the Swiss maker of cables, antenna systems and optical switches confirmed its overall 2019 outlook.

* Datacolor AG said sales fell to $78.8 million in fiscal 2018/2019, from $81.1 million a year ago. Net income also slipped 12% to $3.6 million at the Lawrenceville, New Jersey-based, Swiss-listed maker of products including a pocket-sized color reader that helps interior designers match paint colors.


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

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