Brought to you by Investec Switzerland. The European Central Bank unveiled a range of measures to tackle too-low inflation, from a cut in the floor for interest rates to an expansion of its bond-buying program by at least 360 billion euros ($390 billion). The Frankfurt-based ECB will extend quantitative easing by six months until at […]
Could Swiss banks start charging negative interest?
Brought to you by Investec Switzerland. Could Swiss banks start charging retail depositors negative interest? One already has. More might follow. In mid January 2015 the Swiss National Bank (SNB) started charging negative interest on certain deposits placed with it in an attempt to make holding Swiss francs less attractive. After abruptly abandoned its currency […]
Swiss economy unexpectedly stagnated in 3rd quarter
Brought to you by Investec Switzerland. Swiss economic growth unexpectedly stalled in the third quarter, with momentum held back by weak performance in the energy, construction and financial sector. Output was unchanged in the three months through September, after increasing of 0.2 percent in the prior period, the State Secretariat for Economic Affairs in Bern […]
A volatile week for Swiss stocks
27 November 2015 – Weekly Swiss and global market roundup. Brought to you by Investec Switzerland. The SMI is set to end the week slightly lower on Friday after losing almost all of last week’s 3% gain early in the week before rebounding on Thursday and Friday. Trading was mixed on Stock markets across the […]
Swiss cement giant pledges higher dividend despite missing sales target
Brought to you by Investec Switzerland. The world’s largest cement maker, LafargeHolcim Ltd, which generated CHF 33 billion of revenue in 2014 and employs 115,000 people across 90 countries, pledged to pay shareholders a bigger dividend this year despite sales missing estimates in its first financial report since the world’s top two cement makers combined. The […]
Oil rig giant to delist from Swiss stock exchange
Brought to you by Investec Switzerland. Today, Transocean Ltd. (NYSE: RIG) (SIX: RIGN) said it would delist its shares from the Swiss Stock Exchange (SIX). The company expects the SIX listing authorities to approve its application before the end of the year with delisting following in the first quarter of 2016. The company will remain incorporated in Switzerland […]
Swiss banks continue to shed workers
Brought to you by Investec Switzerland. EFG International AG, the Swiss private bank controlled by billionaire Spiro Latsis and his family, plans to eliminate 200 jobs to help cut costs by 30 million Swiss francs ($29 million) through 2016 to stem a drop in profit. Operating income and the revenue margin remain below expectations, with […]
Swiss market rallied despite Paris terror attack
20 November 2015 – Weekly Swiss and global market roundup. Brought to you by Investec Switzerland. The SMI rallied this week to outperform global stocks with Swiss companies benefitting from a weaker Swiss franc. Stock markets across the world are also set to end the week higher despite last week’s terror attack in Paris. Equities […]
Biggest slump in Swiss watch shipments in 6 years
Brought to you by Investec Switzerland. Swiss watch exports had their biggest decline in six years in October, led by a 39 percent slump in shipments to Hong Kong, the industry’s largest market. Shipments declined 12 percent to 2 billion Swiss francs ($2 billion), the Swiss customs office said in a statement Thursday. Adjusted for […]
Roche cancer drug too expensive for UK’s National Health Service (NHS)
Brought to you by Investec Switzerland. The UK’s National Institute for Health and Care Excellence (NICE), says Roche’s breast cancer drug Kadcyla is still too expensive. Although retained for use through the Cancer Drugs Fund, Roche’s breast cancer treatment, Kadcyla (trastuzumab emtansine), will not be recommended for routine NHS use because its price remains too high. NICE’s draft […]
