November 4, 2019 / 5:52 AM / 18 days ago

Swiss stocks - Factors to watch on November 4

ZURICH/BERLIN, Nov 4 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2% higher at 10,271 points on Monday, according to premarket indications by bank Julius Baer .

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

SNB

The Swiss National Bank (SNB) may need to take its interest rates further into negative territory, its chairman Thomas Jordan said in an interview with the weekly NZZ am Sonntag.

“The phase of low interest rates could last even longer, and a further easing of monetary policy may also be necessary under certain circumstances,” Jordan told the paper in an interview that was published on Sunday, echoing recent comments from his deputy Martin Schlegel.

ZURICH INSURANCE

The head of the group’s claims business told German weekly Bild am Sonntag that pay-outs to Thomas Cook Germany customers are due to start in December at the latest. Zurich Insurance has received claims amounting to 250 million euros ($279 million) so far, which it estimates to be significantly more than half of what eligible parties might claim altogether. Horst Nussbaumer also said that 150,000 claims have been received and a thousand still come in every day.

UBS

Papua New Guinea on Monday indefinitely delayed an inquiry into the terms of a A$1.2 billion ($830 million) loan from Swiss bank UBS that the government used to fund an ill-timed investment in an oil company.

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COMPANY STATEMENTS

* Zur Rose Group said on Friday that it had increased its public bond to 200 million francs.

* Mobilezone said Murat Ayhan will be leaving the Group Executive Board at the end of the year

* Rapid Nutrition reported a FY operating profit of $1.02 million, versus $1.91 million a year earlier.

* Vifor Pharma said it has signed an agreement to jointly commercialise a new diabetic kidney disease indication for Invokana in the United States.

* Baloise Holding said it is acquiring the non-life insurance portfolio of Athora Belgium for 60 mln euros.

* Meyer Burger said it has signed a framework contract with a solar cell manufacturing start-up company in North America for its heterojunction core equipment, in a deal which will reach around 100 mln Swiss francs.

* Hochdorf said Amir Mechria converts part of mandatory convertible bond and becomes thne largest shareholder in the company, holding 18.34%.

* DKSH said it has entered an exclusive distribution agreement with Elementis for mainland China

ANALYSTS’ VIEWS

* LafargeHolcim: Morgan Stanley raises its target price to 61 Swiss francs, from 60 Swiss francs.

* Geberit: Barclays raises price target to 420 Swiss francs from 410 Swiss francs.

ECONOMY

SWISS CONSUMER SENTIMENT worsened to -10.4 points in Q4 vs -8.0 points in pvs quarter.

$1 = 0.8957 euros Reporting by Zurich newsroom and Berlin Speed Desk

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