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equity markets rebound as key political talks and fed decision approach
Equity markets are experiencing a rebound, driven by renewed optimism and a notable quiet from Donald Trump regarding tariffs. European indices are outperforming Wall Street as investors await a significant telephone exchange between the White House and the Kremlin, along with the Fed's comments ahead of its key rate decision.
analysts update recommendations and price targets for key european companies
Analysts have made several notable recommendations, including Kempen maintaining a Buy on Abivax but lowering the price target to USD 18. RBC Capital upgraded Anglo American to Sector Perform with a target of GBX 2310, while JP Morgan raised ArgenX's target to USD 805. Bernstein upgraded Veolia to Outperform with a target of EUR 38, and maintained Outperform for Dassault Aviation with a new target of EUR 305. Other adjustments include Eiffage's target raised to EUR 158.90 and UBS Group's target reduced to USD 35.
Swiss equities faced a downturn, with the SMI index dropping 0.57% to 12,475.49 points, primarily due to a 7.1% decline in UBS shares amid capital concerns despite positive results. The market remains volatile, influenced by ongoing tariff disputes, particularly with China. Notable losers included Swatch (-3.2%) and Sonova (-3.4%), while Medacta stood out with an 11% gain following strong sales figures.
Swiss stock market declines as UBS and Sonova shares fall sharply
The Swiss stock market faced a downturn, with the SMI index dropping below 12,500, primarily due to a significant decline in UBS shares amid capital concerns. While some companies like Lonza and Medacta saw gains, others, including Swatch and Sonova, struggled as uncertainty from international tariff disputes continued to weigh on investor sentiment.
ubs downgrades sandoz to neutral amid biosimilar growth concerns
UBS Global Research has downgraded Sandoz to "neutral," citing limited upside in biosimilar growth and a forecasted 3% lower growth rate than consensus estimates. Despite a strong share price performance, analysts anticipate potential downside to 2025 projections, with Sandoz's biosimilar sales expected to fall 2% below consensus. The firm has raised Sandoz's target price to CHF 44 due to foreign exchange adjustments, while litigation risks and slower growth in generics pose challenges ahead.
ubs analysts favor galderma over sandoz amid market pressures
UBS analysts have downgraded Sandoz shares to "Neutral," citing exhausted potential after a 78% rise since its IPO in October 2023, while maintaining a "Buy" rating on Galderma, which has seen a 70% increase since its IPO in April 2024. Galderma is favored for its strong growth prospects in the specialty pharmaceuticals sector, particularly in aesthetic products, amidst uncertainties in drug pricing in the US.
swiss super-rich see asset growth with newcomers from crypto investments
The assets of Switzerland's wealthiest individuals have surged to a record 833.5 billion Swiss francs, marking a 4.8% increase after two years of decline. Gérard Wertheimer leads the list with an estimated fortune of 37 to 38 billion francs, despite a decrease in his wealth. Notable newcomers include crypto investors Giancarlo Devasini and Christian Angermayer, reflecting the growing influence of digital assets among the super-rich.
sunrise shares debut on six swiss exchange after successful spin-off from liberty
Sunrise, a telecoms company, has successfully returned to the SIX Swiss Exchange after being delisted in 2021 due to its acquisition by Liberty Global. Trading commenced at 44.75 Swiss francs, valuing the company at approximately 3.29 billion francs, making it one of the largest IPOs of the year. CEO André Krause emphasized the company's focus on growth and a progressive dividend policy, with Liberty Global retaining a significant stake in Sunrise.
Swiss market dips as investors await uncertain US election results
The Swiss stock market opened slightly weaker on Monday, with investors cautious ahead of the uncertain US presidential elections. Demand was noted for Bachem, Clariant, SIG, and Galderma, while the Swiss franc strengthened and the dollar weakened. Oil prices also saw an increase, contributing to market volatility.
ubs aims for leadership in european investment banking amid us competition
UBS aims to become the leading European investment bank while expanding its market share in the USA, where M&A activity is robust. Despite facing challenges from dominant US banks and ongoing integration work with Credit Suisse, UBS is positioned for growth, having acquired top M&A advisors and showing potential for upward movement in league tables. The M&A advisory business is expected to gain momentum, with optimism surrounding upcoming large transactions.
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