November 26, 2018 / 6:04 AM / in 16 days

Swiss stocks - Factors to watch on Nov. 26

ZURICH/BERLIN, Nov 26 (Reuters) - The Swiss blue-chip SMI was seen opening 0.1 percent higher at 8,852 points on Monday, according to premarket indications by bank Julius Baer .

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

ABB

The chief executives of ABB and Siemens are travelling to Saudi Arabia to attend a supplier conference, just weeks after they pulled out of an investment event in the country following the death of Saudi journalist Jamal Khashoggi.

KUEHNE & NAGEL PANALPINA

Kuehne & Nagel is ready to talk with smaller rival Panalpina about a takeover, should that company express willingness, Chief Executive Detlef Trefzger told newspaper Finanz und Wirtschaft. But Panalpina wants to remain an independent company, it said.

SWISSCOM

Chief Financial Officer Mario Rossi sees no potential to raise the telecom company’s dividend over the next three years, he told Finanz und Wirtschaft.

LOGITECH

The manufacturer of keyboards and web cams has ended discussions to acquire Plantronics, a U.S. maker of Bluetooth earpieces and gaming headsets, the companies said.

UBS

Axel Lehmann, the head of the bank’s Swiss business, said he thought the bank could continue to win new customers in Switzerland, having added 42,000 in the last year, he told SonntagsZeitung.

ARYZTA

The Swiss-Irish frozen baked goods company said its first-quarter revenue stagnated amid turnaround efforts that include disposals of portions of the business. Management said group sales in the period were in line with expectations.

CEVA LOGISTICS

The Swiss-listed logistics company said it plans to remain an independent company as it intensifies its ties to France’s CMA CGM, which has made an offer for shares of CEVA. CEVA boosted its 2021 management expectations on adjusted EBITDA to $470-490 million from $380 million, and added it is buying CMA CGM’s freight management activities for $105 million in cash.

ANALYSTS’ VIEWS

CREDIT SUISSE - RBC cuts to “sector perform” from “outperform”

PANALPINA - Jefferies raises to “buy” from “hold”

TEMENOS - Credit Suisse starts coverage with “neutral” rating

COMPANY NEWS

* SHL Telemedicine said the Swiss Financial Market Supervisory Authority (FINMA) rejected appeals of Kun Shen, Mengke Cai, Xu Xiang, Himalaya (Cayman Island) TMT Fund, and Himalaya Asset Management Ltd. against the decision of the Swiss Takeover Board (TOB) on Sept 1. Their voting rights are suspended until a mandatory tender offer is published, the company said.

* Valora Chief Executive Michael Mueller told Swiss online publication Cash that he is sticking to the already-communicated goal of operating profit in the current year of around 90 million Swiss francs, plus or minus 3 million francs, and reiterated the company’s stable dividend policy.

* DKSH said it has signed an exclusive distribution agreement with Laurent Ferrier in Japan.

ECONOMY

* Swiss voters have rejected a proposal to give the neutral country’s laws priority over international law, a move that critics claimed would have deeply damaged its global standing and hurt its economy.

* Q3 non-farm payrolls due at 0815 GMT

Reporting by Zurich newsroom and Berlin Speed Desk

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