ZURICH/BERLIN, June 8 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3% lower at 10,158 points on Monday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
Credit Suisse is banking on risk-taking billionaires to drive revenue growth at its international wealth management division.
An asset quality review and a stress test on subsidiaries of UBS and Bank of America revealed no capital shortfall, the European Central Bank said, clearing a hurdle for the banks to relocate activities to Europe from Britain.
The textile machinery maker's Chief Executive Norbert Klapper told NZZ here that so far 5% of orders have been cancelled in the wake of the coronavirus pandemic, and he expects it to have a bigger market share once the pandemic is over.
It will have to shorten working hours by around 40%, for three months initially, in Germany and Switzerland as of early July, he said.
The trade fair organiser cancelled this year’s Art Basel show, which was scheduled for September after having been postponed from June. Without events until the end of the year the firm can survive but layoffs are inevitable, Chief Executive Bernd Stadlwieser was quoted as saying in SonntagsZeitung.
* Compagnie Financiere Richemont said on Friday it was reviewing its human resources function after media reported group human resources director Sophie Guieysse, who was also on the senior executive committee since 2017 and a board member since 2018, would leave the company.
* Oerlikon Nonwoven announced it has supplied meltblown technology for Innovatec GmbH.
* BKW said it was entering the gas market in order to supply its customers with gas as well as electricity.
* Gurit said it was advancing the closure of its Zullwil plant into 2020, several months earlier than originally planned.
* Von Roll said it would supplying Audi’s future electric vehicle systems with insulating components for electric drives
* Relief Therapeutics and NeuroRX are expanding a phase 2/3 clinical trial of RLF-100 for patients with critical COVID-19 and respiratory failure to include new patients who are receiving high flow oxygen and noninvasive ventilation, in addition to those on ventilators
* Sika has acquired an Egyptian roofing and waterproofing company with 26 million Swiss francs in annual sales
* FLUGHAFEN ZUERICH AG: Credit Suisse raises target price to CHF 130 ($135.04) from CHF 115; Morgan Stanley raises target price to CHF 134 from CHF 132
* SWISS RE AG: RBC raises to outperform from sector perform, raises target price to CHF 100 from CHF 80
* ZURICH INSURANCE S>: Goldman Sachs raises target price to CHF 400 from CHF 350; adds to pan-European conviction list
SNB sight deposits due at 0800 GMT.
$1 = 0.9627 Swiss francs Reporting by Zurich newsroom and Berlin Speed Desk
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