ZURICH/BERLIN, July 24 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 9,976 points on Wednesday, according to premarket indications by bank Julius Baer.
Here are some of the main factors that may affect Swiss stocks:
EFG International said assets under management during the first half of the year increased 12% to 131.2 billion Swiss francs at the end of 2018, the private bank said on Wednesday. First-half profit fell by a third to 31.5 million, hurt by costs linked to its life insurance portfolio.
The Swiss drug ingredients maker’s first-half profit plunged as it took losses linked to the sale of its water business and as difficulties at its specialty ingredients business continued, though the Swiss drug contract manufacturer confirmed full-year targets.
The Swiss pump maker bucked the gloomy industrial outlook around the world and lifted its full-year sales forecast on Wednesday, after reporting a jump in sales to the oil and gas sector.
The Swiss fragrance maker is buying Munich-based Drom, with nearly 500 workers in China, Germany, the United States and Brazil, for an undisclosed price. It plans to fund the deal with existing resources.
* Bobst Group said its half-year net result was 7.4 million Swiss francs compared with 24.9 million a year earlier.
* Meyer Burger said Sentis Capital had proposed the election of Anton Karl and Mark Kerekes as additional members of its board of directors at the troubled solar panel machinery maker.
* Sulzer raised its full-year forecast for sales to grow by 7% to 9% (previously 3% to 5%).
* Calida Group said first-half sales increased 4% to 196.6 million Swiss francs, while its operating result rose 15.3% to 6.3 million francs.
* Banque Cantonale du Valais said its first-half net profit rose 1.4% to 51.8 million francs, and said it sees results for the full year stagnating at 2018 levels.
* Baloise Holding said it has taken a majority stake in tradespeople marketplace Devis.ch
UBS - Credit Suisse cuts price target to 16 Swiss francs from 17 Swiss francs. Citigroup cuts price target to 15 Swiss francs from 15.5 Swiss francs.
LONZA: Citigroup raises price target to 349 Swiss francs from 313 Swiss francs.
NOVARTIS - JP Morgan raises price target to 82 Swiss francs from 78 Swiss francs.
LOGITECH INTERNATIONAL - Wedbush raises price target to $46 from $45; rating outperform. JP Morgan raises price target to $48
No major Swiss economic data scheduled (Reporting by Zurich newsroom and Berlin Speed Desk)