Tag Archives: Swiss Markets News

The post contains the main-stream view on the Swiss National Bank. It is the “continued intervention pledge“. But seven years post the financial we are in the second part of the business cycle. In the second part, the SNB must fear rising inflation more than the ECB. See here or in the two phases of CHF appreciation. For us, Brexit has not influenced the main driver of global GDP growth, U.S. or European consumers....

SMI The Swiss Market Index is set to finish the week notably weaker along with global equity markets as fears around global monetary policy hit sentiment ahead of key meetings by the Bank of Japan and US Federal Reserve next week. The SMI did manage to outperform its European peers thanks to its heavy weighting towards more defensive pharmaceuticals and consumer staples sectors.   Economic Data Global equity markets...

The crisis in the global luxury-goods industry deepened after Hermes International SCA abandoned a long-standing forecast and Richemont predicted a profit plunge that Chairman Johann Rupert deemed unacceptable. Cartier in Hong Kong © Bankoo | Dreamstime.com Richemont, the maker of Cartier jewelry, said first-half operating profit will probably decline about 45 percent and warned it may have to deepen cost cuts. Kelly...

Swiss National Bank, © Swisshippo | Dreamstime.com Anyone feeling let down that the European Central Bank didn’t do much last week might just want to skip the Swiss rate decision on Thursday to avoid more disappointment. While the Swiss National Bank may be infamous for some seismic policy changes in the last few years, those bombshells weren’t dropped at scheduled meetings. In fact, the last time the institution...

SMI The Swiss Market Index, along with other European markets, fluctuated this week as central bank decisions dominated the landscape. Click to enlarge. Economic Data Equity markets advanced at the beginning of the week as chances of the Federal Reserve raising US interest rates later this month declined after a surprisingly weak report on the US service-sector earlier this week. The report followed data last week...

Basel to overtake Zurich Basel City will leapfrog Zurich to become Switzerland’s second-most attractive location for businesses by 2020 as Swiss cantons cut corporate tax to bolster their appeal, according to Credit Suisse Group AG. Basel, home of Roche Holding AG and Novartis AG, will move up two places in the ranking of 26 cantons over the next four years, given a plan to reduce its tax rate to 13 percent from...

[unable to retrieve full-text content]A UBS Group AG unit was found by a federal judge to have violated some contracts with mortgage-backed securities trusts that hold loans, putting it at risk of having to buy back more loans or pay damages in a $2 billion lawsuit. U.S. District Judge Kevin Castel Tuesday ruled that UBS Real Estate Securities Inc. had breached warranties on 13 of 20 loans in the trusts that were introduced into evidence in a three-week trial in Manhattan in May.

[unable to retrieve full-text content]The Swiss Market Index, along with other European markets, is trading slightly higher this week after financials rallied on merger and acquisition rumors and hopes for improved growth. European banks, the industry group battered the most so far this year, lead gains after it emerged that Deutsche Bank AG and Commerzbank AG executives held talks about a potential merger in early August this year.

[unable to retrieve full-text content]Banks in Switzerland reduced their domestic workforce by 4.1 percent in the first half as companies combined and made cost cuts to stem declining profitability, a survey by the nation’s main bank association showed.

SMI The Swiss Market Index is set to close lower this week underperforming global equities as US stocks reached new record highs and emerging markets outperformed on a weaker dollar. Click to enlarge. Oil also made further gains this week as investors bet that talks between OPEC members and other producers may result in action to stabilise the market in the coming weeks. Click to enlarge. Japan The week began with...