5 August 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index is set to close slightly higher this week, outperforming global equities thanks to defensive heavyweights such as Nestlé and Novartis. Pessimism hit European shares at the beginning of the week as sliding oil prices and bank stress […]
Swiss National Bank’s U.S. equity holdings hit record $61.8 billion last quarter
Brought to you by Investec Switzerland. The value of the Swiss National Bank’s U.S. stock portfolio jumped to a record in June, helped by equity market gains. The holdings climbed to $61.8 billion from $54.5 billion at the end of March, according to calculations by Bloomberg based on the central bank’s regulatory filing to the […]
Switzerland has world’s priciest Big Macs. So eat Swiss chocolate instead.
The Economist invented the Big Mac index in 1986 as a tongue-in-cheek guide to currency valuations. Because the well-known burger is the same throughout much of the world, the magazine thought it could be used as a measure of how over or undervalued a currency was. An overpriced burger suggests an overvalued currency and a […]
UBS beats profit estimates as CEO pushes ahead with cost cuts
Brought to you by Investec Switzerland. UBS Group AG beat analysts’ second-quarter profit estimates and said it’s on track to cut costs by 2.1 billion Swiss francs ($2.2 billion) through 2017, with Chief Executive Officer Sergio Ermotti struggling with a slump at the wealth management and securities-trading units. Net income slipped to 1.03 billion francs […]
Swiss stock market rally loses momentum
29 July 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index and global stock markets failed to extend last week’s rally after the Federal Reserve and Bank of Japan left rates unchanged and gave mixed messages about the global economic outlook. Japanese shares received a short-term boost after […]
Credit Suisse’s turnaround is working, but vulnerable
Brought to you by Investec Switzerland. Just a month ago, Credit Suisse CEO Tidjane Thiam and Deutsche Bank CEO John Cryan risked, as one hedge fund manager put it, becoming the dead men walking of European banking as they struggled to shore up their firms’ profitability. Thursday’s results from Credit Suisse suggest Thiam may escape […]
Roche CEO worried about U.K. drug research following Brexit
Brought to you by Investec Switzerland. The U.K.’s decision to leave the European Union poses a threat to research and development in the pharmaceutical industry, Roche Holding AG Chief Executive Officer Severin Schwan said. A departure would mean the country would have to set up its own system for approving drugs for sale, a job […]
Swiss markets fluctuate on earnings data
22 July 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements. Global financial markets showed resilience this week following the failed coup attempt in Turkey over the weekend. […]
Givaudan profit beats estimates on U.S. fragrance demand
Brought to you by Investec Switzerland. Givaudan SA, the world’s largest flavors and fragrance company, reported first-half profit that beat analyst estimates on increased demand for perfumes. Earnings before interest, taxes, depreciation and amortization rose 13 percent to 638 million francs ($649 million), the Vernier, Switzerland-based company said in a statement on Monday. Analysts had […]
Novartis says profit may drop
Brought to you by Investec Switzerland. Novartis AG said profit may fall this year as the Swiss drugmaker increases spending on the heart medicine Entresto and faces declining sales of its best-selling cancer treatment Gleevec. Core operating income will either be about the same as 2015 or decline by a percentage in the low single […]
