June 19, 2020 / 4:44 AM / 24 days ago

Swiss stocks - Factors to watch on June 19

ZURICH/BERLIN, June 19 (Reuters) - The Swiss blue-chip SMI was seen opening little changed at 10,196 points on Friday, according to premarket indications from bank Julius Baer .

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

CORONAVIRUS

Asian shares and U.S. stock futures wobbled in choppy trade as lingering concerns about an fresh spike in coronavirus cases offset growing hopes for a quick economic recovery.

GAM Holding

The Swiss asset manager expects to report an IFRS net loss for the first half of 2020 of about 400 million Swiss francs ($420.92 million), it said in on Friday, as it writes down the value of decades-old goodwill.

ROCHE

The Swiss drugmaker said its experimental medicine ipatasertib hit one goal of a late-stage clinical trial against a slice of patients with a kind of prostate cancer but fell short in the overall study population.

SWISS RE

Swiss Re will disband its Life Capital business unit after wrapping up the sale of its British ReAssure business later this year, the reinsurer said on Friday, adding the unit's head, Thierry Leger, will become its new chief underwriting officer.

COMPANY STATEMENTS

* Swiss stock exchange operator SIX is entering BME's board of directors after completing the nearly $3 billion takeover of the Spanish exchange earlier this month

* Meyer Burger aims to raise 165 million Swiss francs ($173.63 million) in a capital increase and shift from producing machinery to focus on solar cell and module manufacturing in a bid to survive.

* Stadler Rail said that a new train safety system, Guardia, was approved for the first time in Poland.

* SoftwareOne said was informed about another accelerated bookbuilding for the sale of 17 million shares, or 11% of the share capital, owned by KKR, Raiffeisen and the heirs of Patrick Winter. The issue price was 22.50 francs per share, the bookrunner said.

* Tornos said bit.ly/37I9h8k it "categorically rejects" a Swiss union's allegations it dismissed 60 permanent employees since October 2019 inappropriately, saying the stated worker count is incorrect, that most cuts concerned temporary workers, and that of the actual redundancies made, all were done legally.

* Elma Electronic reported EBIT and net profit significantly lower y/y at end of May 2020

ANALYSTS' VIEWS

VIFOR PHARMA - Credit Suisse raises price target to chf 170 from chf 160

ECONOMY

No major Swiss economic data scheduled

Reporting by Zurich newsroom and Berlin Speed Desk

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