June 20, 2018 / 4:45 AM / 3 months ago

Swiss stocks - Factors to watch on June 20

ZURICH, June 20 (Reuters) - The Swiss blue-chip SMI was seen opening 0.23 percent higher at 8,483 points on Wednesday, according to premarket indications by Bank Julius Baer.

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

KLINGELNBERG

The Swiss gear- and machinery maker said on Wednesday it had priced its initial share offering (IPO) at 53 Swiss francs per share, the top of its range, as its family owners sell a big stake and the firm raises about 20 million euros ($23.15 million) for expansion from new stock.

COMPANY STATEMENTS

* Richemont said it was delisting the ordinary shares of Yoox Net-A-Porter.

* Basler Kantonalbank said it plans to raise its stake in Bank Cler to 100 percent, from about 76 percent now.

* Mikron said business continued to improve to start 2018, with order intake rising sharply from the first half of 2017 leading to the company expecting a boost in sales for the first half of about 25 percent.

* Idorsia said it had launched a Phase III trial of its aprocitentan for resistant hypertension management, a drug it is developing with partner Johnson & Johnson.

* Clariant said it had inaugurated additives production facilities in China.

* Sulzer said it raised 385 million Swiss francs in a dual tranche issuance on Tuesday, saying the move will optimise its financing mix.

* Novartis says U.S. regulators approved new labeling for its drug Cosentyx indicating that it slows progression of joint damage in psoriatic arthritis at week 24.

* Raiffeisen saw its longterm credit rating cut by Moody's to Aa3 from Aa2, with a negative outlook, after Swiss financial watchdog FINMA highlighted lacking corporate governance at one of Switzerland's largest lenders in connection with transactions involving former chief executive Pierin Vincenz.

* Hochdorf said it had sold a milk plant in Lithuania to investors after purchasing a majority stake in a second milk processing plant in Germany.

* Nestle's partner Starbucks said in a statement that it continues to make progress toward closure of the global coffee alliance with the Swiss company.

Reporting by Zurich newsroom

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