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Deutsche Bank has raised its price target for UBS to CHF 27, up from CHF 26. This adjustment reflects a positive outlook on the financial institution's performance. The news was first reported by TheFly, a source for real-time financial updates.
A former Deutsche Boerse AG employee, identified as G. P., confessed to insider trading during his trial in Germany, admitting to trading on non-public information for three and a half years. He is charged with 14 counts of insider trading from January 2018 to July 2021, using information received 30 minutes before public filings. His trades involved stocks from companies such as Deutsche Bank AG and Aurubis AG.
The DAX experienced a decline of 0.8% to 19,215 after a strong rise earlier in the week, closing with a weekly loss of 0.2%. To regain upward momentum, it must surpass 19,250 and aim for the September high of 19,492, while a drop below 19,000 could lead to further declines.
ETF savings plans are gaining significant traction in Switzerland, with projections suggesting growth from 7.6 million plans to 32 million in five years. Nima Pouyan of Invesco anticipates that the number of plans will exceed 500,000 within three years, driven by a shift towards self-managed investments and high cash reserves. Monthly contributions typically start low but can rise significantly as investors gain confidence, with the average contribution in Switzerland at CHF 450, compared to EUR 167 in Germany.
European banks are facing intensified competition as a second Trump presidency signals potential financial deregulation in the U.S. While U.S. banks have thrived, European lenders struggle with low profitability and strict regulations. The anticipated easing of U.S. banking rules could further widen the earnings gap, prompting European banks to lobby for regulatory relief.
Germany's car, banking, and energy sectors face mounting challenges amid a domestic political crisis. The situation is exacerbated by global tensions following Donald Trump's election and ongoing trade disputes with China, threatening further economic strain.
Barclays and Deutsche Bank are retaining part of FNZ Group Ltd's $2.1 billion refinancing deal after struggling to attract enough investor interest for the entire loan. To facilitate this, the banks restructured the loan, converting the euro-denominated term loan B into a safer term loan A, which is more suitable for their balance sheets.
Matteo Cavestro has been appointed Executive Director of UBS Global Wealth Management, effective November 4. He previously spent five years at Unicredit as director of Global Family Office and has held similar positions at Deutsche Bank and other financial institutions in Milan and London.
Matteo Cavestro has joined UBS Global Wealth Management as an executive director, starting on November 4. He strengthens the Milan team focused on high-net-worth clients, bringing five years of experience as director of Global Family Office at Unicredit and previous roles at Deutsche Bank and other financial institutions in Milan and London.
The General Court of the European Union upheld the European Commission's 2021 decision against Crédit Agricole and Credit Suisse for anti-competitive practices in the SSA bond market, resulting in fines totaling €28.4 million. While Credit Suisse's appeal was dismissed, Crédit Agricole's fine was slightly adjusted due to a date error, but the total remained unchanged. The court confirmed the banks' coordinated actions constituted a single infringement, affirming the Commission's methodology for calculating fines based on trading volume.
Deutsche Bank Aktiengesellschaft
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