Bank investors are optimistic that 2024 could mirror the successful year of 1995, when the Federal Reserve's rate cuts led to a significant banking sector rally. Currently, bank stocks are performing well, with key indices up over 19% and 21%, respectively. Historical patterns suggest initial sell-offs after rate cuts, followed by potential outperformance, but past cycles indicate that such gains may not last long.
09:00 22.09.2024
Bitcoin remains above $62,000, buoyed by a recent interest rate cut in the US, although investor euphoria is starting to fade. The upcoming US presidential election, featuring Kamala Harris and Donald Trump, may influence crypto regulations, while key Federal Reserve speeches next week could provide insights into future monetary policy.
IG
09:00 22.09.2024
The new Minister of Health faces critical challenges, including chronic overcrowding in emergency departments, a widening healthcare deficit projected at €11.4 billion by 2024, and ongoing medical desertification. Promises of reforms, such as task delegation to healthcare professionals and direct access to specialists, remain unfulfilled amid rising healthcare costs and political turmoil. Additionally, contentious issues like the Aide Médicale d'Etat scheme and a stalled bill on assisted dying complicate the landscape for healthcare reform in France.
Idorsia AG is grappling with significant financial challenges, highlighted by a 34% drop in share price to EUR 1.508, despite the recent approval of its antihypertensive drug Aprocitentan in the USA. The company is focusing on cost-cutting and launching new products to improve its financial situation, with quarterly figures due in May expected to indicate the effectiveness of this strategy. The short-term outlook for Idorsia shares remains uncertain, hinging on the company's ability to stabilize its financing in the long run.
FuelCell Energy is grappling with significant financial challenges, with its share price at 0.3855 euros, far below the 1 dollar threshold needed for a Nasdaq listing. The company faces a potential delisting if it does not exceed this mark by the end of November. Additionally, a disappointing sales forecast of around 80 million dollars for 2024 has heightened investor concerns about its growth prospects and financial stability.
Switzerland's financial landscape is bolstered by a landmark agreement with the UK, enhancing cross-border access for wholesale financial services. The Mutual Recognition Act, signed on December 21, 2023, allows firms to operate under their home regulations, fostering investor confidence and solidifying Switzerland's status as a global banking leader. As assets under management in the Swiss fund market surpass CHF1.5 trillion, both local and foreign interest in Swiss investment opportunities continues to grow.
09:00 20.09.2024
UBS is selling 19 branches across Switzerland as part of its consolidation efforts following the integration of Credit Suisse. The properties, located in areas such as Locarno, Glarus, Einsiedeln, and Martigny, can be acquired individually or as a package. Ultimately, UBS plans to close 85 duplicate branches, maintaining a network of 190 by 2026.
09:00 20.09.2024
UBS is selling 19 branches across Switzerland, including the Locarno branch, as part of its consolidation following the integration of Credit Suisse. This significant real estate transaction allows potential buyers to acquire individual properties or the entire portfolio, with a closing deadline expected in spring 2025. UBS plans to close 85 branches to streamline its network, aiming for 190 branches by 2026, similar to its pre-takeover count.
09:00 20.09.2024
Dutch bank ING has announced plans to stop financing oil and gas companies developing new fields, aiming for a complete phase-out by 2040. The bank will drop clients not meeting climate goals by 2026, impacting around 25 clients and €1 billion in lending. ING has already reduced its investments in the sector by 40% and is pushing 2,000 clients to reassess their sustainability efforts.
09:00 20.09.2024
EFG International has welcomed four former XP advisors—Thiago Favery, Raphael Pinheiro, Fernando Olea, and Felipe Sebe—who manage a combined $3.5 billion portfolio, to enhance its private banking services for high-net-worth Brazilian clients. They will officially join the Miami office after their non-compete period ends in December. EFG, a leading Swiss private banking group, manages assets of CHF 160 billion and is recognized for its personalized wealth management solutions.
09:00 20.09.2024
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