June 11, 2020 / 4:52 AM / 2 months ago

Swiss stocks - Factors to watch on June 11

ZURICH/BERLIN, June 11 (Reuters) - The Swiss blue-chip SMI was seen opening 1.8% lower at 9.964 points on Thursday, according to premarket indications by bank Julius Baer .

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

CORONAVIRUS

The U.S. Federal Reserve signalled it plans years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic.

Asian shares eased after a downbeat economic outlook from the U.S. Fed stoked speculation it would have to add to already historic levels of stimulus to safeguard recovery.

INSURANCE

Generali is exploring strategic options for its Swiss insurance operations, Bloomberg reported bloom.bg/30s9xH7.

UBS

The bank will look to increase productivity and gain a larger share of its clients’ business to grow its wealth management business in a low-yield environment of economic contraction, divisional co-head Iqbal Khan said.

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COMPANY STATEMENTS

* Nestlé said it has agreed to acquire a majority stake in U.S. supplements maker Vital Proteins.

* Implenia and Ina Invest announced the results of a rights offering by Ina Invest. Around 3 million new shares corresponding to 59% of the maximum number of new shares offered were exercised.

* Straumann said it raised 200 million Swiss francs through the placement of a new five-year bond.

* Realstone Swiss Property said bit.ly/3heaF6Z it is planning a capital increase by around 54 million Swiss francs to boost growth of its real estate portfolio.

* Lonza said it has signed a partnership agreement with Anthos Therapeutics to develop and manufacture an antibody treatment for blood clots.

* Novartis said the U.S. Food and Drugs Administration had approved an updated label for its Beovu product to include safety information.

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RATINGS * Zurich Insurance Group: HSBC cuts its target price to 430 Swiss francs from 480 previously.

ECONOMY

No major Swiss economic data scheduled

Reporting by Zurich newsroom and Berlin Speed Desk

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