May 23, 2019 / 5:06 AM / 5 months ago

Swiss stocks - Factors to watch on May 23

ZURICH/BERLIN, May 23 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2 percent lower at 9,627 points on Thursday, according to premarket indications by bank Julius Baer .

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

SWATCH

Annual general meeting due.

Novartis

Novartis AG’s top executive said on Wednesday it expects to price its gene therapy for spinal muscular atrophy “far lower” than the $4 million to $5 million figure the Swiss drugmaker has said it could be worth.

Seperately, the company also said its has 25 potential blockbuster treatments in development, ahead of a management event in the United States on Thursday.

SWISS STOCK EXCHANGE

SIX, the Swiss national stock exchange group, is working on creating its own “stablecoin” – a cryptocurrency pegged to the Swiss franc – to facilitate transactions on the SIX Digital Exchange (SDX), CoinDesk reported on Wednesday.

NESTLE

Swiss food group Nestle SA and New Zealand’s dairy producer Fonterra Co-operative Group said they would review strategic options for their Dairy Partners Americas (DPA) joint venture in Brazil, which could include a potential sale.

COMPANY STATEMENTS

*Varia US Properties said it successfully issued a 50 million Swiss francs fixed-rate bond.

* Ypsomed Holding reported full year net profit at CHF 60.1 Mln.

* Santhera said it had entered into a licence agreement with Chiesi Group.

ECONOMY

Swiss industrial production data for the first quarter due at 0630 GMT. (Reporting by Zurich newsroom and Berlin Speed Desk)

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