Brought to you by Investec Switzerland. Swiss talks with the European Union about immigration restrictions mustn’t be impacted by the U.K.’s decision to leave the bloc, German Chancellor Angela Merkel said. “In the EU, we should carry on negotiations with Switzerland in the same way as we would have if there were no question on […]
Swiss franc rises to strongest level since June
Brought to you by Investec Switzerland. The Swiss franc climbed on Wednesday as global stocks fell and demand for haven assets increased on growing concerns that the U.S. presidential race had tightened. The franc reached its strongest level versus the euro since June and advanced against the dollar. Demand for havens is being stoked after […]
UBS says Swiss property market remains at risk of bubble: chart
Brought to you by Investec Switzerland. Risks to the Swiss property market remained elevated in the three months through September, according to UBS Group AG’s quarterly index. “While the buy-to-rent price ratio reached an all-time high, moderate mortgage growth and the slightly-improved economy prevented imbalances in the owner-occupied housing market from widening,” it said in […]
UBS reports drop in wealth profit as Ermotti lowers costs
Brought to you by Investec Switzerland. UBS Group AG Chief Executive Officer Sergio Ermotti pledged to continue cost cuts after profit at the wealth-management business fell and the securities unit was hurt by a slump in equities trading. Pretax profit rose 11 percent to 877 million Swiss francs ($883 million) from 788 million francs a […]
Pharma giants drag SMI stocks down
28 October 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. A weak performance from Swiss pharma giants pulled the Swiss Market Index down again this week after investors dropped stocks in the sector on lackluster earnings reports. The peripheral European stocks and Japan managed to buck the trend this week, global stock markets […]
Migros experiments with personalised discounts
Tribune de Genève. According to the NZZ am Sonntag, in September, Swiss supermarket Migros launched a new system which offers personalised discounts. The discount experiment will run for a year in stores in Geneva, Nyon, Bern and Zurich. What is it exactly? Those with Cumulus loyalty cards will receive special offers via an app on […]
Brexit brings specter of common EU tax plan, and bodes poorly for Switzerland’s immigration negotiation
Brought to you by Investec Switzerland. Ireland is facing another tax battle with the European Union and this time it will have to fight its own corner. Less than two months after the European Union ordered Ireland to claw back a record 13 billion euros ($14.2 billion) from Apple Inc., saying the nation illegally allowed […]
Syngenta slumps on concern of protracted ChemChina EU review
Brought to you by Investec Switzerland. Syngenta AG shares tumbled on concern that China National Chemical Corp.’s $43 billion takeover of the Swiss herbicide and pesticide maker risks regulatory delays in the European Union. ChemChina didn’t submit so-called remedies in the EU’s early-stage review of the deal by the Oct. 21 deadline, the European Commission’s […]
Swiss exports exceed level before franc’s shock rise
In the third quarter of 2016, Swiss exports reached CHF 52.5 billion, 8.1% higher than they were for the same period in 2015, according to statisticians in Bern. Industries contributing to the rise were jewellery and precious metals (+21%) and pharmaceuticals (+17%). The industry showing the most negative shift was watchmaking (-8%). Stronger pharmaceuticals exports […]
SMI underperforms global stocks
21 October 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index is set to finish the week largely unchanged while global stocks gain on positive US third quarter earnings results, favourable central bank statements and a rallying oil price. The S&P 500 saw its biggest advance since September on Wednesday […]
