Brought to you by Investec Switzerland. Swiss watch exports dropped 3.8 percent in December, led by a plunge in shipments to Hong Kong and ending 2015 with the first annual drop in six years. For the year, shipments slipped 3.3 percent to 21.5 billion Swiss francs ($21.2 billion), the Swiss customs office said in a statement Tuesday. […]
Swiss market has a better week
Brought to you by Investec Switzerland. Swiss stocks are set to outperform global markets this week after another volatile session of trading that saw some stock indices suffering losses not seen since the depths of the global financial crisis. Investor sentiment was hit early this week after China recorded its weakest annual pace of growth […]
Coop catches up with Migros in global retail ranking
The top 250 global retailers generated aggregated revenues of US$ 4.5 trillion in 2014, up 4.3% on 2013, according to Deloitte. US retailer Wal-mart with sales of US$ 486 billion was the global leader by a wide margin. Tesco PLC from the UK and France’s Carrefour each generated a bit under US$ 100 billion ranking 5th […]
Zurich insurance hit hard by storms
Brought to you by Investec Switzerland. Zurich Insurance Group AG expects its biggest unit to record a second straight quarterly loss after estimating it will pay out $275 million to cover damage claims from storms in the U.K and Ireland. The general insurance unit is expected to post an operating loss of about $100 million […]
Switzerland right to scrap franc cap, economists say
Brought to you by Investec Switzerland. The Swiss National Bank’s surprise decision a year ago to remove its ceiling on the franc was justified, according to the vast majority of economists in Bloomberg’s monthly survey. The SNB abandoned the cap on Jan. 15 of last year, saying interventions to sustain it would have been out […]
Another horrible week: SMI follows global market down
15 January 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. Despite Swiss stocks holding up slightly better than other global equity markets this week, the SMI followed the sell-off in US and Chinese equities as investors sought safe haven assets amid anxiety over the state of the global economy and collapse […]
Geneva-based Richemont reports first Christmas slump in 7 years
Brought to you by Investec Switzerland. Richemont, the maker of Cartier jewelry and IWC Schaffhausen timepieces, reported its first decline in Christmas revenue since 2008 amid weak demand for watches in Asia. Revenue excluding currency shifts slipped 4 percent in Richemont’s fiscal third quarter, which ran through December, the Geneva-based company said Thursday in a […]
Swiss toilet maker Geberit’s shares up
Brought to you by Investec Switzerland. Higher sales in Germany, expected to remain a bright spot this year, helped Swiss sanitary equipment maker Geberit AG to match analysts’ 2015 revenue expectations, sending its shares higher. The company, which supplies bathroom fixtures and water piping systems, also lifted expectations for operating profit for the full year […]
SNB pledges willingness to intervene on strong franc
Brought to you by Investec Switzerland. Swiss National Bank Vice President Fritz Zurbruegg said the economic backdrop remains far from normal and kept alive policy makers’ ongoing threat of currency interventions to tackle the “overvalued” franc. “Under certain conditions, however, the SNB is prepared to intervene directly in the foreign exchange market,” Zurbruegg said in […]
Swiss stocks hit by China fears
Brought to you by Investec Switzerland. SMI stocks, along with markets around the world, started 2016 in a state of chaos this week as weak economic data from China, heightened tensions in the Middle East and crude oil prices tumbling to multi-year lows wreaked havoc on investor sentiment. Markets slumped around the globe after Chinese […]
