ZURICH/BERLIN, March 11 (Reuters) - The Swiss blue-chip SMI was seen opening 0.5% lower at 9,212 points on Wednesday, according to premarket indications by bank Julius Baer.
Here are some of the main factors that may affect Swiss stocks:
The struggling Swiss-based steelmaker posted a net loss for 2019 of 521 million euros ($591.13 million). It said forecasted for improvements for the current year do not take into account effects of the coronavirus, which the company says cannot be estimated at this time.
The Austrian company announced plans to raise 1.75 billion Swiss francs ($1.87 billion) in a rights issue to help finance its acquisition of Osram Licht AG. The shares listed in Zurich were seen falling nearly 9% in premarket indicators.
China reported an uptick in new confirmed cases of coronavirus infections, reversing four straight days of fewer new cases, driven by infected individuals arriving from abroad.
Asian shares and Wall Street futures fell as growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally.
UBS is starting to implement split locations in London in response to the coronavirus outbreak, sources said.
* Banque Cantonale du Valais said operating profit rose 2.1% to 118.4 million francs in 2019
* Plazza Immobilien said full-year profit rose to 36.7 million francs
* Von Roll said it expects the coronavirus to result in “noticeable negative effects” on sales and earnings in the current year.
* Carlos Gavazzi says it expects 2019/20 profit to fall by half to around 5 million Swiss francs compared to the year earlier and says that its business is being hurt by the coronavirus’s spread.
* Wisekey reported a 2019 net income of $7.5 million.
* Roche said that it got U.S. approval for a test aimed at helping prevent cervical cancer.
* Newron Pharmaceuticals said it is finalizing a statistical analysis plan for its trial of a drug against Rett Syndrome and will submit it to the Food and Drug Administration in the coming weeks.
* Lonza said it appointed Caroline Barth as new chief human resources officer.
* Helvetia Holding said Annelis Luescher Haemmerli has been named the new CFO
* IVF Hartmann said it would pay an unchanged dividend of 2.50 francs per share and expects 2020 results to match those of the previous year.
* Swiss Finance & Property said it would pay a dividend of 3.60 francs per share
BELIMO - CREDIT SUISSE RAISES TARGET PRICE TO CHF 5830 FROM CHF 5500
FLUGHAFEN ZUERICH - CREDIT SUISSE CUTS PRICE TARGET TO CHF 140 FROM CHF 170
ADECCO GROUP AG - DEUTSCHE BANK CUTS PRICE TARGET TO CHF 43 FROM CHF 48
GALENICA AG - DEUTSCHE BANK RAISES PRICE TARGET TO CHF 61 FROM CHF 57
No major Swiss economic data scheduled ($1 = 0.8814 euros) ($1 = 0.9335 Swiss francs) (Reporting by Zurich newsroom and Berlin Speed Desk)
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