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 […]
Roche revenue gains as sales of breast cancer drugs soar
Brought to you by Investec Switzerland. Roche Holding AG’s third-quarter revenue rose 4.5 percent as its trio of breast-cancer therapies offset stagnating sales of some of its older drugs. Sales climbed to 12.5 billion Swiss francs ($12.6 billion), the Basel, Switzerland-based company said in a statement on Thursday. That compared with the 12.6 billion-franc average […]
Nestle forecasts slowest sales growth in decade as pricing ebbs
Brought to you by Investec Switzerland. Nestle SA forecast the slowest full-year sales growth in more than a decade as food companies worldwide struggle against consumer resistance to price increases. Revenue will gain about 3.5 percent on an organic basis in 2016, the Vevey, Switzerland-based maker of Nespresso coffee said Thursday, abandoning a goal for […]
Global stocks at lowest levels since July
14 October 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index is set to finish the week lower, but outperforming global stocks, thanks to a strong week of luxury good stocks. Global stocks fell to their lowest levels since July on Thursday as investors rushed to the safety of government bonds, […]
Swiss cross-border shopping declines
20 Minutes. Residents of German-speaking Switzerland appear to doing less shopping across the border, something that has also been observed in Geneva. According to the newspaper the Handelszeitung, Swiss cross-border shopping peaked in 2015 and local customs posts have seen a decline in VAT and duty collected since March. At the border in Kreuzlingen, near Lake […]
More Swiss visas for non-Europeans in 2017
20 Minutes. Visa quotas for non-EU workers will rise next year. The increased quotas will include 3,000 B-permits and 4,500 L-permits, 1,000 more than this year. These limits are still lower than in 2014, when Swiss politics turned against the free movement of workers from the EU. 2014 quotas of 3,500 B-permits and 5,000 short-term L-permits, […]
Skiers’ delight as wet start to 2017 to bring snow to Europe
Brought to you by Investec Switzerland. Heavy rain that risks causing flooding at lower altitudes in late January and early February is expected to bring snow to Europe’s pistes and potentially boost reservoirs for electricity generation. Rivers will likely flood in northern Spain and southern Germany, according to Accuweather Inc. There will be more snowfall […]
Swiss central bank can cut rates further if needed, says bank president Jordan
Brought to you by Investec Switzerland. The Swiss National Bank can cut interest rates further into negative territory if needed, President Thomas Jordan said. “We have still some room to go further if necessary,” Jordan said Saturday in an interview in Washington with Bloomberg Television’s Francine Lacqua. Jordan, who is attending the annual meetings of […]
