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Swiss stock market declines as luxury and tech stocks face pressure

The Swiss stock market experienced a decline mid-week, with the SMI index falling 0.21% to 12,193.07 points amid investor caution ahead of the European Central Bank's interest rate decision. Major losses were seen in luxury goods and technology sectors, particularly for Swatch Group and Richemont, following disappointing figures from LVMH. In contrast, stocks like Autoneum and Julius Baer showed gains, while Tecan plummeted 15% due to a forecast cut.
Finanz und Wirtschaft
Schindler Holding AG Nestlé S.A. UBS SA ABB Ltd Novartis AG CHE Show more
TradFi, Market Report
18:05 14.10.2024

ubs group ag notifies reduction in voting rights in solvay sa

UBS Group AG notified Solvay of a downward crossing of the 3% voting rights threshold on October 7, 2024, due to a reduction in holdings in its trading portfolio. Following this adjustment, UBS's total indirect interest in Solvay's voting rights fell below 3%, triggering the disclosure obligation. Solvay, committed to sustainable chemistry, reported net sales of 4.9 billion euros in 2023 and aims for carbon neutrality by 2050.
Boursorama
UBS Group AG Solvay SA CHE BEL Peter Boelaert Laetitia Van Minnenbruggen Geoffroy d'Oultremont Boris Cambon-Lalanne Vincent Toussaint Show more
TradFi, Press Release
17:45 14.10.2024

ubs group ag notifies reduction in voting rights in solvay sa

UBS Group AG notified Solvay that it crossed a transparency threshold, reducing its indirect voting rights below 3% as of October 7, 2024, due to a decrease in Trading Book holdings. This notification aligns with Belgian transparency legislation, reflecting UBS's controlled undertakings' holdings. Solvay, a leading chemical company with a commitment to sustainability and a goal of carbon neutrality by 2050, reported €4.9 billion in net sales in 2023 and employs over 9,000 people globally.
@YahooFinance
UBS Group AG CHE BEL
TradFi, Press Release
17:45 14.10.2024

j p morgan asset management restructures to enhance alternatives business strategy

J.P. Morgan Asset Management is restructuring its alternatives business to enhance its competitive edge in private markets, led by executives with extensive experience. With $400 billion in alternative assets, the firm aims to better serve wealthy individual investors and family offices through tailored products, including evergreen funds and co-investment opportunities. This strategic shift reflects a commitment to active management and leveraging its private banking history to meet growing demand in the private credit and equity sectors.
Institutional Investor
The Carlyle Group Inc. J.P. Morgan Alternatives Advisor Inc. Blackstone Inc. Apollomics, Inc. USA Anton Pil Jed Laskowitz George Gatch Jamie Kramer David Frame Show more
Finance & Economy, Market Report
17:25 14.10.2024

adidas stock rises as UBS raises price target and outlook improves

adidas shares rose over 1% following UBS's positive analysis, which confirmed a Buy recommendation and raised the price target to €279 from €275, indicating a potential upside of 19%. The company anticipates high single-digit revenue growth for 2024, with operating profit expected to reach around €1 billion, up from a previous estimate of €700 million.
Boursorama
Euro adidas AG DEU
TradFi, Market Report
17:11 14.10.2024

adidas stock rises as UBS raises target and forecasts strong growth

adidas shares rose over 1% following a positive analysis from UBS, which raised its price target to €279 from €275, indicating a potential upside of 19%. The analyst highlighted continued sales growth exceeding 10% and revised revenue expectations for 2024 to a high single-digit rate, with operating profit projected around €1 billion.
abcbourse.com
Euro adidas AG DEU
TradFi, Market Report
17:11 14.10.2024

industry leaders appointed in healthcare sector reshaping executive teams

OMNY Health has appointed Ivy Weng as chief commercial officer to enhance its market presence in life sciences and AI. Cityblock Health welcomes Michael Roaldi as president, while Counterpart Health names David Tsay, M.D., Ph.D., as chief medical officer to advance its clinical strategy. Other notable appointments include Ashish Pagey at ShiftKey and new executives at Ada Health.
Fierce Healthcare
Apple Inc. UnitedHealth Group Incorporated New York-Presbyterian Fund Inc. Clover Health Investments, Corp. Ivy Weng Michael Roaldi David Tsay Patrick Wetherille Jacob Plummer Show more
Healthcare, Press Release
17:00 14.10.2024

elite pharmaceuticals reports first quarter financial results for fiscal year 2025

Elite Pharmaceuticals, Inc. has announced its financial results for the first quarter of fiscal year 2025, which ended on June 30, 2024. The company also provided details regarding an upcoming conference call to discuss these results further.
msn.com
Elite Pharmaceuticals, Inc. USA
Finance & Economy, Press Release
16:59 14.10.2024

ubs warns of potential decline in adp traffic due to tax increases

UBS forecasts a decline in traffic around Paris due to potential increases in aviation taxes, maintaining a neutral stance on ADP. The bank suggests that a 10% price hike could lead to a 2% drop in passenger numbers, particularly affecting low-cost airline customers, emphasizing the critical link between traffic growth and EBITDA performance.
Investing.com France
Euro UBS SA FRA UBS predicts a decline in traffic in and around Paris.
TradFi, Market Report
16:59 14.10.2024

campaigners urge us to revoke ubs pension market exemption after violations

A group of campaigners is urging the U.S. Department of Labor to revoke UBS's exemption allowing it to operate in the American pension market, citing the bank's history of nearly 100 offenses and $20 billion in penalties since 2000. UBS, which has submitted a 500-page application to extend its exemption, argues that issues stem from individual staff actions. Recent legal troubles include a significant fine in France for tax evasion and involvement in an antitrust lawsuit related to interest rate swaps.
Reuters
Euro United States Dollar Credit Suisse Anlagestiftung UBS Group AG FRA CHE USA James Henry Oliver Hirt John Revill Show more
TradFi, News Article
16:41 14.10.2024
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