The latest rich list reveals the Safra family maintaining their position with assets of 22.5 billion francs, while the Hinduja family saw a rise to 10.5 billion francs amid legal troubles. Martin Ebner's wealth increased to 3.8 billion francs despite losses from Temenos, and the de Piciotto family is valued at 2.3 billion francs. Bank managers like Sergio Ermotti and Boris Collardi are estimated at around 175 million francs, with Ermotti benefiting from a substantial salary and share value at UBS.
UBS shares rose 0.3% to CHF 28.17 in morning trading, reaching a peak of CHF 28.23. The stock has seen a 52-week high of CHF 29.57, down 4.73% from that peak, and a low of CHF 22.53. Analysts forecast a dividend of USD 0.819 for this year, with Q4 2024 results expected on February 4, 2025.
10:17 29.11.2024
Didi Global Inc. reported a net income of 929 million yuan ($128 million) for the September quarter, marking its second consecutive quarterly profit. Revenue increased by 5% to 53.9 billion yuan, driven by a 20% rise in gross transactions from its international operations in Brazil and Mexico, as the company prepares for a potential IPO in Hong Kong.
Trump's impending tariffs could benefit India's exports, but may provoke China to devalue its currency, leading to competitive devaluation among emerging markets, warns Jyoti Jaipuria of Valentis Advisors. Analysts predict the yuan could fall below a 17-year low against the US dollar, potentially dropping by 10%. This scenario echoes China's 2015 devaluation, which aimed to support its slowing economy but resulted in capital outflows and reduced foreign exchange reserves.
The Supreme Court has halted Aakash Educational Services' plan to amend its Articles of Association, following concerns from minority shareholders, including Singapore VII Topco, about potential dilution of their stake. This decision comes after the National Company Law Tribunal previously blocked the resolution, citing violations of shareholder rights. Aakash Institute has been directed to approach the National Company Law Appellate Tribunal within seven days.
The FTSE 100 trades sideways below this week's high of 8,319, supported by the 55-day SMA at 8,231, with resistance seen between 8,326 and 8,372. The DAX 40 attempts to break its downtrend at 19,438, aiming for highs of 19,546 to 19,566, while support lies at 19,226 and 19,144. The CAC 40 hovers above critical support at 7,091, with minor support between 7,158 and 7,131, and a rise above 7,207 could target the downtrend line at 7,262.
IG
10:10 29.11.2024
The Office of the Attorney General of Switzerland has charged Lombard Odier with serious money laundering allegations linked to Gulnara Karimova, daughter of the former Uzbek president. The bank and a former employee are accused of concealing assets from Karimova's criminal organization between 2005 and 2012. Lombard Odier, which claims the allegations are unfounded, plans to defend itself vigorously.
Johannes Schuster has been appointed Chairman of the RWA Management Board, succeeding Reinhard Wolf, who will focus on his role at Baywa. Schuster, CEO since January 2024, will lead RWA alongside Christoph Metzker, ensuring the company's continued success with a strong management team in place. Under Wolf's leadership, RWA expanded its agricultural business in Central and South Eastern Europe and made significant strides in renewable energy and logistics.
10:07 29.11.2024
UBS has reduced its target price for Rockwool A/S to DKK 2,800 from DKK 3,075 while maintaining a neutral stance on the company. Rockwool, a global leader in rock wool insulation and sealing products, generates 77.1% of its net sales from insulation and waterproofing products, with a significant presence in Western Europe (58.7%). The company operates 51 production sites worldwide, with additional sales in Eastern Europe, Russia, and other regions.
10:07 29.11.2024
Polish consumer price growth has slowed for the first time in eight months, with headline inflation dropping to 4.6% in November from 5% in October. This decline suggests that interest rate cuts may be on the horizon, potentially occurring in early 2025.

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