Luzerner Kantonalbank (LUKB) shares have been on a downward trend for years, prompting political intervention. In a recent column, financial commentator Michael Föhn highlights the concerns of local shareholders, including a small investor from Lucerne, Mr. Hugentobler.
09:00 18.09.2024
Luzerner Kantonalbank's share price has plummeted from CHF 105.40 in 2018 to CHF 62.70, raising concerns among middle-class politicians. FDP cantonal councillor Thomas Meier has questioned the cantonal government about the bank's dividend policy and the lack of government representation on its Board of Directors, despite the canton holding a significant stake.
09:00 18.09.2024
ING Bank is tightening its lending policies for oil and gas companies, planning to cease financing for those that do not align with net-zero goals by 2026. The new rules will impact around 50 clients, particularly targeting upstream oil and gas firms developing new fields, while also restricting project finance for new LNG export terminals after 2025. The bank's commitment to phase out upstream financing by 2040 reflects a broader trend among European banks to address climate change.
09:00 18.09.2024
In August, rents in Switzerland saw a monthly decline of 0.6%, with Ticino experiencing the largest drop at 1.7%. Yearly growth remains robust, particularly in Grisons (+11.7%) and Zug (+11.4%), while Lugano recorded a monthly decrease of 1.1% but a yearly increase of 7.4%.
09:00 18.09.2024
Oil prices have faced significant volatility, dropping to levels unseen since late 2021, driven by extreme bearish sentiment and unprecedented short positions. However, potential supply constraints from OPEC+ cuts, geopolitical risks, and unexpected demand boosts from economic stimuli and travel recovery could lead to a price rebound. Despite institutional pessimism, factors like developing world growth and petrochemical demand suggest that long-term oil demand may remain robust, creating a scenario for a swift market reversal.
IG
09:00 18.09.2024
World Bank Vice President for South Asia, Martin Raiser, arrived in Dhaka on September 18, 2024, for a two-day visit. He is set to meet with key government officials, including the Chief Adviser and Finance Adviser, as the World Bank continues its longstanding support for Bangladesh, having committed approximately $44 billion since the country's independence.
09:00 18.09.2024
Seven Swiss institutions, including UBS, BCV, and BKB, are participating in the Agorá project, which aims to explore the integration of customer deposits and central bank money into a programmable financial platform. Launched by the Bank for International Settlements and seven central banks, the project seeks to enhance the monetary system through tokenization and smart contracts. The initiative, involving 41 private financial institutions globally, is set to run until 2025.
09:00 17.09.2024
The Federal Reserve is set to cut interest rates for the first time since 2020, with options of a 25 or 50 basis point reduction. Market sentiment leans towards a 50 bps cut, but expectations suggest a more cautious 25 bps reduction may be likely, reflecting mixed economic signals. The upcoming FOMC meeting will also provide insights through economic projections and the dot-plot chart, influencing market reactions, particularly in Forex and U.S. equities.
09:00 17.09.2024
Germany's economic growth is showing signs of cooling, with the ZEW Indicator of Economic Sentiment dropping from 19.2 to 3.6 in September. Despite a slight GDP increase of 0.2% in Q1, the economy contracted by 0.1% in Q2, and private consumption is faltering due to high inflation and changing consumer preferences. The outlook suggests a challenging period ahead, with stagnation and slight declines in GDP likely in the coming months.
09:00 17.09.2024
Ethereum's price has surged ahead of the Federal Reserve's upcoming meeting, where a decision on interest rates is anticipated. Investors are speculating on a potential rate hike of 25 or 50 basis points, with a 63% probability of a 50 basis point cut. Additionally, the US election campaign is expected to influence market dynamics, particularly following a recent debate between Kamala Harris and Donald Trump, with hopes for a crypto-friendly administration.
IG
09:00 17.09.2024
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