May 20, 2019 / 4:50 AM / 3 months ago

Swiss stocks - Factors to watch on May 20

ZURICH/BERLIN, May 20 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent lower at 9,632 points on Monday, according to premarket indications by bank Julius Baer .

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

ADECCO GROUP

The Swiss staffing company said it had successfully completed a tender offer on existing notes.

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NOVARTIS

Trial is scheduled to begin in the U.S. government’s lawsuit against Novartis AG accusing the Swiss drugmaker of paying kickbacks to doctors so they would prescribe its drugs. The case is before U.S. District Judge Paul Gardephe in Manhattan.

NESTLE

Nestle will begin selling Nespresso capsules in Swiss retail outlets, not just online or in its own boutiques, the SonntagsZeitung reports. “We are making it simpler for customers to buy Nespresso,” it cites Niels Kuijer, head of Nespresso in Switzerland, as saying

REFERENDUMS

Swiss voters easily approved on Sunday a shake-up of the country’s corporate tax system, heading off what its finance minister had called an existential threat to Switzerland’s role as a business hub.

Provisional final results showed the measure passed in the binding referendum by a 66-34 percent margin.

Swiss voters agreed by a nearly two-to-one margin on Sunday to adopt tighter gun controls in line with changes to European Union rules, heading off a clash with Brussels.

The measure passed in the binding referendum under the Swiss system of direct democracy by a 64-36% margin, provisional final results showed.

COMPANY STATEMENTS

* Givaudan buys Vietnamese flavourings company Golden Frog, without disclosing terms

* LafargeHolcim said it completed the divestment of its activities in Malaysia, adding that the transaction would reduced the group’s net financial debt by close to 600 million Swiss francs ($592.94 million).

* Addex Therapeutics said it increased share capital and created treasury shares

EX-DIVIDEND

LAFARGE HOLCIM - 2.00 CHF/shr dividend

ECONOMY

No major economic data scheduled. ($1 = 1.0119 Swiss francs) (Reporting by Zurich newsroom and Berlin Speed Desk)

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