December 20, 2019 / 6:17 AM / a month ago

Swiss stocks - Factors to watch on December 20

BERLIN/ZURICH, Dec 20 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1% lower at 10,564 points on Friday, according to premarket indications by bank Julius Baer .

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

CREDIT SUISSE

Credit Suisse expects to book a pre-tax gain of at least 450 million Swiss francs ($459.6 million) in the fourth quarter of 2019 from revised accounting treatment of its stake in financial infrastructure company SIX Group, the bank said on Friday.

Brazilian development bank BNDES chose the investment banking unit of Credit Suisse to manage a share offering to divest about 24 billion reais ($5.90 billion) of its stake in oil firm Petrobras, two people with knowledge of the matter said.

NESTLE

Nestle agreed to sell a majority stake in Herta, its packaged meat business, to family-run Spanish company Casa Tarradellas to create a joint venture.

SWISSCOM

Switzerland’s highest court on Thursday upheld a 186 million Swiss franc ($190 million) penalty against Switzerland’s largest telecoms provider, saying pricing policies in its internet business violated cartel laws.

Swisscom says guidance for this year unchanged.

Shares indicated down 1.3%

VOLKSWAGEN

SIX Exchange Regulation AG has approved the German carmaker’s request to delist its bearer shares from the Swiss stock exchange. The delisting will take place on March 23, 2020, the last trading day at SIX will be on March 20, 2020.

SYNGENTA

China National Chemical Corp, or ChemChina, has approached Chinese state-backed investors for up to $10 billion in funding as part of a reorganisation of its agrichemicals business ahead of a public float, according to five people familiar with the situation. The reorganisation includes Swiss giant Syngenta. ChemChina wants to list Syngenta, the Swiss pesticide producer it bought for $45 billion in 2016, on China’s technology-focused STAR market in mid-2020, according to fundraising documents dated from October.

COMPANY STATEMENTS

* Addex Therapeutics said it would receive an additional $800k funding from Indivior for GABAB PAM addiction programme

* Dufry won a new confectionery contract at Singapore Changi Airport

* Conzzeta said it would divest Divest Schmid Rhyner, with the closing of the transaction expected by the end of the first quarter of 2020

* SGS ended its share buyback programme and said it did not repurchase shares during the buyback period

* Schmolz & Bickenbach announced the results of its rights offering and said the final offer price and final number of new shares sold would be determined on Dec. 20

* Hochdorf Holding said Peter Pfeilschifter had been appointed as CEO after leading group as interim CEO since mid-March 2019

* Autoneum Holding said two major shareholders - Michael Pieper and Peter Spuhler - have granted Autoneum Holding Ltd two subordinated loans of CHF 20 million each

* Lindt & Spruengli said Jennifer Picenoni would join the group management as group general counsel and corporate secretary

* Schaffner Holding said Chief Operating Officer Max Baenziger would leave the group at the end of January 2020 and Martin Koeppel, head of global quality, would take over the COO’s tasks on a interim basis

* G3 Pharmaceuticals announced the signing of an exclusive global development and option agreement with Nestle health science

* Meyer Burger Technology said it was selling its inkjet printing business (PiXDRO) located in Meyer Burger (Netherlands) B.V. in Eindhoven to Süss Microtec for around CHF 5 million in cash, with the transaction expected to complete towards the end of February 2020

* Asmallworld raised its full-year revenue guidance from CHF 12.0-12.5 million to CHF 12.5-12.8 million, equivalent to 42-45% revenue growth year-on-year

ECONOMY

No economic data scheduled

$1 = 4.0703 reais $1 = 0.9788 Swiss francs Reporting by Zurich newsroom and Berlin Speed Desk

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