off-the-wire

Swiss stocks - Factors to watch on February 17

Kitco Media
By Reuters
Published:
Updated:
Reuters
ZURICH/BERLIN, Feb 17, 2023 (Reuters) - The Swiss blue-chip SMI was seen opening 0.4% lower at 11,151 points on Friday, according to premarket indications by bank Julius Baer . Here are some of the main factors that may affect Swiss stocks: SIKA AG Swiss chemicals company Sika AG reported a better-than-expected operating profit for 2022 on Friday and said sales will rise by 6%-8% in local currencies for 2023, as the company benefits from price increases and more government projects. SWISS RE AG Reinsurance company Swiss Re SRENH.S said on Friday that net profit for 2022 fell 67% as it faced claims from Hurricane Ian in Florida, pandemic losses, and high inflation, but it sees a big jump in 2023 profit. CREDIT SUISSE Credit Suisse CSGN.S Singapore chief executive officer, Chien Chien Wong, is leaving to pursue outside interests, according to a memo seen by Reuters, in the latest senior banker departure from the Swiss bank. BB BIOTECH BB Biotech reports a new loss of CHF 358 million for 2022. COMPANY STATEMENTS
*Jacquet Metals acquires special steel distribution activities from Swiss Steel Group
*Kuros Biosciences AG says it has appointed Daniel Geiger as Chief Financial Officer (CFO) Ad Interim, effective February 17, 2023
*Helvetia Asset says it plans the purchase of property portfolio with market value of CHF 229.5 Mln ANALYSTS' VIEWS JULIUS BAER GRUPPE AG - HSBC RAISES TARGET PRICE TO CHF 74 FROM CHF 64


NESTLE SA - CFRA CUTS TARGET PRICE TO CHF 120 FROM CHF 127 KUEHNE UND NAGEL INTERNATIONAL AG - JP MORGAN RAISES TARGET PRICE TO CHF 280 FROM CHF 240; JP MORGAN RAISES TO OVERWEIGHT FROM NEUTRAL CREDIT SUISSE GROUP AG : CITIGROUP CUTS TO NEUTRAL FROM BUY; CUTS PRICE TARGET TO CHF 3.1 FROM CHF 3.7 ECONOMY Swiss February industrial production YY due at 0730 GMT (Reporting by Zurich newsroom and Berlin Speed Desk)


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