May 8, 2019 / 5:12 AM / 3 months ago

Swiss stocks - Factors to watch on May 8

ZURICH/BERLIN, May 8 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent lower at 9,550 points on Wednesday, according to premarket indications by bank Julius Baer.

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

NESTLE

The world’s largest packaged food company said it plans to abandon direct-store delivery of frozen pizza and ice cream in the United States, a move that will cut 4,000 jobs.

Nestle plans to launch a new line of baby formula in China this year under an existing brand, targeted at smaller cities, as the world’s largest packaged food company tries to lengthen its lead in the world’s biggest baby milk market.

GAM HOLDING

Holds annual general meeting

ROCHE

The company said new data on its ocrelizumab drug Ocrevus show significant reduction of disability progression in relapsing and primary progressive multiple sclerosis.

NOVARTIS:

Data at AAN show Mayzent’s positive impact on cognitive processing speed, a core element of cognitive function, in people living with secondary progressive MS

COMPANY STATEMENTS

* Cosmo Pharmaceuticals NV: FDA allowance of IND Application for CB-03-10

* Cosmo Pharmaceuticals: new exclusive distribution agreement for Eleview with Medtronic in the US, China and South America; further collaboration agreement to strengthen cooperation in the artificial intelligence field

* Clariant will open a consumer care innovation centre in the U.S. state of New Jersey at mid-year

* Ceva Logistics AG: signs three-year deal with Lush in UK and Ireland

* Bachem Holding said it succesfully finished its capital increase.

* Bucher Industries AG: Bucher Municipal strengthens its presence in Asia by acquiring 100% of Chinese sewage tanker manufacturer Zynkon

ANALYSTS’ VIEWS

The Swatch Group - Morgan Stanley raises to “equal-weight” from “underweight”

ECONOMY

* April adjusted unemployment unchanged at 2.4 percent

* Results of government bond tender due around 0915 GMT (Reporting by Zurich newsroom and Berlin Speed Desk)

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