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The Swiss stock market remained in the red as investors reacted to the US's announcement of a 25% tariff on imported cars, signaling a potential escalation in the global trade war. Major indices in Europe and Asia followed suit, with significant declines in automotive stocks. The SMI was down 1.27%, with only six of the thirty leading stocks showing gains, including Sandoz and Novartis.
The Swiss stock market opened sharply lower, mirroring declines in the US and Asian markets due to impending US tariffs on the automotive sector. Analysts express concerns over a potential global trade war, with all leading Swiss stocks declining except for Lindt, which saw a slight gain. The SMI fell 1.42% to 12,771.07 points, reflecting widespread bearish sentiment among investors.
UBS is recalibrating its strategy following the merger with Credit Suisse, focusing on strengthening capital reserves rather than expanding its investment banking division in light of anticipated regulatory changes. This conservative approach aims to enhance stability across its operations.In contrast, investor confidence is rising, as evidenced by Penza Investment Management's 3.01% stake in Julius Baer and RBC Capital Markets' optimistic target revision for Sandoz. Additionally, Swisscom and SGS are set to reward shareholders with dividends, reflecting a robust financial outlook for Swiss firms amidst regulatory challenges.
UBS Group AG is seeking to limit the future size of its investment bank and increase capital to avoid stricter regulations following its acquisition of Credit Suisse. Meanwhile, Penza Investment Management has acquired a 3.01% stake in Julius Baer. Analysts have raised the target price for Sandoz Group AG from CHF 42 to CHF 44, while Swisscom AG proposed a dividend of CHF 22.00 per share and SGS SA proposed a dividend of CHF 3.20. The Swiss Investor Confidence Index for March is set to be released at 0900 GMT.
UBS Group AG is working to mitigate stricter regulations by proposing to limit the size of its investment bank and increase capital reserves, following its acquisition of Credit Suisse. Julius Baer Gruppe AG has a 3.01% stake held by Penza Investment Management, while RBC has raised the target price for Sandoz Group AG to CHF 44 from CHF 42. Swisscom AG and SGS SA have proposed dividends of CHF 22.00 and CHF 3.20 per share, respectively, with Swiss March Investor Sentiment data set to be released at 0900 GMT.
Last year saw a 30% increase in global separation announcements, with over half occurring outside the US, particularly in Europe. Activist investors are intensifying their campaigns, pressuring companies like BP and Honeywell to restructure, while European firms are consolidating amid geopolitical tensions and a need to compete with stronger US rivals. Despite an 8% drop in global M&A volume this year, optimism remains, with expectations of a 10-15% rise driven by corporate activity later in the year.
Salaries for CEOs of major Swiss companies are on the rise, with UBS CEO Sergio Ermotti earning 14.9 million francs and Novartis CEO Vasant Narasimhan at 19.1 million francs. This trend has sparked political debate, including a proposed salary cap for bankers, which faces opposition from the Bankers Association. Shareholders, particularly large asset managers, prioritize company performance over concerns about executive pay.
UBS shares have been removed from a model portfolio by a strategist, following a recent reinstatement by another analyst. The Swiss market shows mixed performance, with Givaudan gaining slightly while Sonova and Dätwyler face declines. Notable updates include Galderma receiving EMA marketing authorization and Novartis gaining FDA orphan drug designation for Ianalumab.
UBS has raised its price target for SGS SA from CHF85 to CHF95 while maintaining a Neutral rating, citing strong performance in its reacceleration program. Citi has reinstated coverage with a Buy rating and a CHF105 target, highlighting potential margin improvements, while Barclays remains cautious with an Underweight rating and a CHF78 target due to halted merger talks.
UBS has raised its price target for SGS SA from CHF85 to CHF95 while maintaining a Neutral rating, citing strong performance in its reacceleration program. Citi has reinstated coverage with a Buy rating and a CHF105 target, highlighting potential margin improvements, while Barclays remains cautious with an Underweight rating and a CHF78 target due to halted merger talks.
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