20 Minutes. Switzerland’s competition watchdog COMCO has fined Swisscom CHF 71.8 million. The semi-privatised Swiss telecom operator has been accused of using market dominance to gain an unfair advantage over competitors. The commission said “the Swisscom group with its subsidiaries CT Cinetrade AG and Teleclub AG holds a dominant position particularly with respect to live […]
Stock markets under pressure on US interest rate hike speculation
20 May 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. Swiss stocks are set for a modestly positive end to the week despite stock markets coming under pressure on growing speculation that the US Federal Reserve could raise rates as early as next month. Stocks markets were volatile this week after the […]
Swiss customs sees a huge rise in meat smuggling
Le Matin. Swiss customs couldn’t believe their eyes when they visited the garages of a Vaud resident who they had questioned at a border stop in Geneva. The two garages contained a total of 5,000 kgs of food. Among the stash they found 520 litres of spirits, 1,400 litres of wine, 2,800 kgs of meat […]
Glencore’s best start to year eases blow from post-IPO slump
Brought to you by Investec Switzerland. Glencore Plc shareholders showing up for the miner’s annual meeting on Thursday can take comfort in the stock’s best ever start to a year. Less so the loss of about half the company’s value since they met 12 months ago and more than 70 percent since a $10 billion […]
Julius Baer says new money short of target in first four months
Brought to you by Investec Switzerland. Julius Baer Group Ltd. said net new money from clients amounted to less than 3 percent of managed assets in the first four months of the year, missing its target. Clients in eastern Europe and Latin American showed “slow momentum,” while customers in Asia reduced borrowings and wealthy French […]
Swiss stocks higher on positive earnings releases and brighter inflation signals
13 May 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. Swiss stocks are set to close higher this week, outperforming global equities on positive earnings releases and brighter inflation signals. Stock markets around experienced a mixed week as investors weighed Federal Reserve rate hike expectations against gloomy economic data out of the […]
Zurich Insurance shares up sharply after beating estimates
Brought to you by Investec Switzerland. Shares of Zurich Insurance Group AG headed for the biggest gain in more than four years after Switzerland’s biggest insurer posted a first-quarter profit that beat analyst expectations. The stock rose as much as 5.6 percent, and was trading 5.4 percent higher at 228 francs as of 11:24 a.m. […]
Nestlé wants to sell you both sugary snacks and diabetes pills
Brought to you by Investec Switzerland. Nestlé is by far the largest food company in the world. Its 335,000 employees produce more than 2,000 brands, manufactured in 436 factories across 85 countries. It’s Europe’s most valuable corporation, worth $240 billion, comfortably more than oil giant Royal Dutch Shell. Among the world’s 195 nations, it sells […]
Stock markets tumble on growth concerns
6 May 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. Swiss stocks fell significantly this week, underperforming global equities, amid renewed global growth worries and a poor performance from financial heavyweights. Stock markets across the world tumbled after weaker-than-expected manufacturing data out of China revived fears around global growth prospects. In the […]
Europe’s bitterest takeover battle continues in Switzerland
Brought to you by Investec Switzerland. The main players in Europe’s most hostile bid situation are digging in. Saint-Gobain said last week that its bitterly contested plan to take control of building materials rival Sika was still a strategic priority — even though the Swiss target’s board and minority shareholders are prepared for a multi-year […]
