ZURICH/BERLIN, Feb 28 (Reuters) - The Swiss blue-chip SMI was seen opening 2.7% lower at 9,926 points on Friday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
The world is preparing for a coronavirus pandemic as hopes the disease could be contained to China vanished and investors dumped equities in expectation of a global recession.
The number of confirmed coronavirus cases in Switzerland rose to nine, as the canton of Basel-City put a number of children into a two-week quarantine after one of their caregivers tested positive for the virus.
UBS UBSG.S Chief Executive Sergio Ermotti cashed in less money in 2019 as the bank made pay concessions related to a French tax case and missed earnings goals during his last full year as CEO.
Ermotti, who is due to be replaced by ING INGA.AS head Ralph Hamers in November, was awarded a total 12.5 million Swiss francs ($12.8 million) in salary and bonus for 2019, down from 14.1 million francs the year before, the Swiss bank’s annual report showed on Friday.
Swiss Life proposed increasing its dividend by more than a fifth to 20 Swiss francs a share and unveiled on Friday a share buyback worth up to 400 million Swiss francs ($410 million) as it reported a 12% rise in 2019 net profit.
The United States granted a license to allow for certain humanitarian trade transactions with Iran’s sanctioned central bank, a move it said was in step with the formalization of a Swiss humanitarian trade channel.
JULIUS BAER - Credit Suisse initiates with outperform rating and chf 58.50 price target
KUEHNE UND NAGEL - JP Morgan cuts target price to chf 159.22 from chf 166.21
PSP SWISS PROPERTY - Credit Suisse raises target price to chf 128 from chf 109
* BASLER KANTONALBANK: CANCELING THE EXISTING ADDITIONAL TIER 1 BOND AND IS PREPARING TO REFINANCE IT
* AEVIS VICTORIA SA: TOTAL TURNOVER JUMPS BY 41.1% TO CHF 927.5 MILLION IN 2019
* COSMO PHARMACEUTICALS NV: ANNOUNCES AUSTRALIAN REGULATORY APPROVAL OF GI GENIUS
* Swiss January retail sales data due at 0730 GMT
* KOF business indicator for February due at 0800 GMT. Seen falling to 97.5 points from 100.1 in January (Reporting by Zurich newsroom and Berlin Speed Desk)