February 4, 2020 / 7:04 AM / 20 days ago

Swiss stocks - Factors to watch on February 4

ZURICH/BERLIN, Feb 4 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3% higher at 10,699 points on Tuesday, according to premarket indications by bank Julius Baer .

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

CORONAVIRUS

Hong Kong reported its first death from the newly identified coronavirus, the second fatality outside mainland China from an outbreak that has killed more than 420 people, spread around the world and raised fears for global economic growth.

SGS

The von Finck family reduced its stake in the inspections group, placing a 12.7% stake via an accelerated bookbuilding process in a transaction worth about 2.3 billion Swiss francs. The sale at 2,425 francs per share through sole bookrunner Credit Suisse will leave the family a stake of about 3%.

Shares indicated down 9.7%

GLOBUS

Thailand’s largest retailer, Central Group, said on Tuesday it is buying Swiss luxury department store Globus and other real estate assets in a joint venture with Austria’s Signa for more than 1 billion Swiss francs ($1.03 billion). The purchase of Globus and the real estate from Migros-Genossenschafts-Bund (MGB) is the latest expansion for Central Group, owned by the billionaire Chirathivat family, in European luxury malls.

SIX SWISS EXCHANGE

Trading turnover on the Swiss Stock Exchange in January rose 7.6% year on year, while the number of trades rose by +26.1%.

COMPANY STATEMENTS

* Aluflexpack AG: net sales of EUR 207.9 million for financial year 2019, up 14.4%; expects above market growth for 2020, and group net sales of EUR 220-230 million

* Luzerner Kantonalbank reported a 2019 profit of 205 million Swiss francs, up 2.2%.

* Orascom Development Holding AG: Samih Sawiris will assume role of executive chairman to lead executive management for an interim period until appointment of a new CEO

* Wisekey International Holding AG: collaborates with IATA on the one record platform as security and digital identity partner

ANALYSTS’ VIEWS

GIVAUDAN SA: Kepler Cheuvreux raises target price to CHF 3061 from 2600

EMS CHEMIE HOLDING AG: Kepler Cheuvreux raises target price to CHF 515 from 475

CLARIANT AG: Kepler Cheuvreux raises target price to CHF 26 from 24

JULIUS BAER - JP Morgan raises target price to 57 Sfr from 55 Sfr

SGS SA: Morgan Stanley raises price target to CHF 2650 from 2450

ECONOMY

* The U.S. Commerce Department finalised a new rule to impose anti-subsidy duties on products from countries that it has determined undervalue their currencies against the dollar.

* No major Swiss economic data scheduled

Reporting by Zurich newsroom and Berlin Speed Desk

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