{
}
The US labor market defied expectations with over 200,000 jobs added in September, despite disruptions from strikes and Hurricane Helene. Job growth was particularly strong in the service sector, while manufacturing saw job losses for the second consecutive month. The robust labor market may influence long-term interest rate outlooks, but the Federal Reserve is likely to focus on smaller rate cuts moving forward, given the ongoing decline in inflation.
VP Bank shares experienced a slight decline of 0.33% to EUR 76.25 on October 3, 2024, despite a stable dividend policy, with a planned payout of EUR 5.00 per share, yielding 6.56%. The current P/E ratio of 10.37 suggests undervaluation compared to the forecasted 17.75 for 2024, while the stock remains 43.28% above its 52-week low, indicating potential recovery. A recent analysis urges shareholders to consider their next steps regarding buying or selling.
Switzerland's inflation rate dropped to 0.8% in September, prompting expectations for further interest rate cuts by the Swiss National Bank (SNB). The decline in prices, influenced by cheaper package tours, airline tickets, and lower energy costs, suggests a potential key interest rate of 0% if disinflation continues. The strong Swiss franc remains a significant factor in the SNB's monetary policy decisions.
Inflation in the eurozone dropped from 2.2% to 1.8% in September, primarily due to a significant 6% decrease in energy prices compared to last year. The core inflation rate is expected to decline slightly to 2.7%. However, service prices remain a concern, rising 4% year-on-year, indicating potential challenges ahead as energy price effects diminish in November. The European Central Bank is likely to cut interest rates at its October meeting in response to the falling inflation and a deteriorating economic outlook.
Martin Gilbert, Chairman of Revolut and founder of Abrdn, is reportedly interested in acquiring Banque Havilland's Monaco subsidiary after Andbank withdrew from a potential purchase. A consortium of private individuals has agreed to take over, pending regulatory approval, while Revolut may be eyeing Havilland's banking license. Meanwhile, the Liechtenstein subsidiary is facing liquidation, with EFG International emerging as a likely buyer.
The Swiss National Bank (SNB) has lowered its key interest rate to 1%, marking the third consecutive cut of 25 basis points. The SNB's unusually clear guidance indicates that further cuts may be necessary due to significant disinflationary trends and a strong Swiss franc, which has contributed to lower inflation rates. Another reduction is anticipated in December, followed by another in March.
The Swiss National Bank (SNB) has cut its benchmark interest rate by 25 basis points to 1.00 percent, signaling a likely further reduction in December and March due to low inflation and economic weakness. Analysts anticipate continued upward pressure on the Swiss franc, suggesting potential foreign exchange interventions to stabilize the currency. The SNB's revised inflation forecasts indicate a significant decrease in price pressures, reinforcing the need for a cautious monetary policy approach.
The ECB's banking supervisory authority revoked Banque Havilland's license in Luxembourg, prompting the search for buyers for its subsidiaries in Monaco and Vaduz/Zurich. Andbank backed out of acquiring the Monaco unit after due diligence, while a consortium of private individuals, including industry heavyweight Martin Gilbert, is set to take over, pending regulatory approval. In Vaduz, EFG International appears to be the frontrunner for an asset deal following the self-liquidation of the Liechtenstein subsidiary.
The ECB revoked Banque Havilland's banking license in Luxembourg, prompting the search for buyers for its subsidiaries. Andbank has withdrawn its interest in the Monaco branch, while a consortium of private individuals, including Martin Gilbert, is set to acquire it, pending regulatory approval. Meanwhile, the Liechtenstein subsidiary faces liquidation, with EFG International emerging as a potential buyer.
The US Federal Reserve has initiated its easing cycle with a 50 basis point rate cut, reducing the target range to 4.75-5%. Private banks are advising investors to embrace more risk, particularly in equities, while suggesting a shift from cash to high-quality bonds. However, the trajectory of future rate cuts may be influenced by the upcoming presidential election.
VP Bank AG
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
us labor market defies expectations with strong job growth in september
09:00 04.10.2024
vp bank shares decline slightly but maintain strong dividend outlook
19:54 03.10.2024
swiss inflation decline prompts expectations for interest rate cuts
09:00 03.10.2024
eurozone inflation drops to 1.8 percent as energy prices decline
09:00 01.10.2024
martin gilbert pursues acquisition of banque havilland's monaco subsidiary
Euro
Revolut Ltd.
VP Bank AG
EFG International AG
Glencore plc
Aberdeen Standard Investments Ltd.
LUX
LIE
CHE
AND
GBR
Martin Gilbert
Harley Rowland
Show more
09:00 27.09.2024
swiss national bank cuts interest rates amid declining inflation pressures
Euro
Swiss Franc
United States Dollar
Swiss National Bank
VP Bank AG
CHE
Martin Schlegel
Thomas Jordan
09:00 26.09.2024
swiss national bank signals further interest rate cuts amid low inflation
Swiss Franc
Raiffeisen ETF FUND
UBS SA
VP Bank AG
Vontobel Holding AG
PostFinance AG
CHE
USA
Patrick Häferli
Reto Cueni
Katja Müller
Thomas Gitzel
Fredy Hasenmaile
Show more
09:00 26.09.2024
banking turmoil as banque havilland seeks buyers after license withdrawal
Euro
Aberdeen AIR Ltd.
Revolut Ltd.
Sigma
VP Bank AG
Andbank 24K Gold Sicav FUND
EFG International AG
Glencore plc
MCO
LUX
LIE
CHE
AND
Martin Gilbert
Harley Rowland
Show more
09:00 26.09.2024
banking turmoil as banque havilland seeks buyers after license revocation
British Pound Sterling
Euro
Swiss Franc
United States Dollar
Revolut Ltd.
VP Bank AG
EFG International AG
Glencore plc
Aberdeen Standard Investments Ltd.
LIE
LUX
MCO
CHE
Martin Gilbert
Harley Rowland
Show more
09:00 26.09.2024
private banks advise risk-taking as federal reserve begins interest rate cuts
United States Dollar
Julius Bär Gruppe AG
Lombard, Odier & Cie
UBS SA
HSBC Holdings plc
VP Bank AG
Standard Chartered PLC
USA
Bernd Hartmann
David Kohl
Homin Lee
Show more
09:00 20.09.2024
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Industry Mergers & Acquisitions
Workplace Trends
Global Financial Events
Banking Regulations
Retail and Consumer Goods
Finance Mergers & Acquisitions
CEO Changes
Market Analysis and Predictions
Government Policies
Startups & Entrepreneurship
Global Trade Developments
Private Equity Deals
Central Bank Actions
Financial Scams and Security
Supply Chain Management
Domestic Politics
Energy Sector Developments
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Credit Suisse Lux Digital Healt
Bank of America Corporation
Deutsche Bank Money Market PP
UBS Group AG
BNP Paribas SA
Wells Fargo & Company
The Goldman Sachs Group, Inc.
Apple Inc.
Commerzbank AG
Banco Santander, S.A.
UniCredit S.p.A.
Danske Bank A/S
NVIDIA Corporation
SpaceXCoin USD
HSBC Holdings plc
HSBC HOLDINGS
Amazon.com, Inc.
Currencies:
United States Dollar
Euro
British Pound Sterling
Chinese Yuan
Swiss Franc
Indian Rupee
Japanese Yen
Danish Krone
Hong Kong Dollar
Australian Dollar
South Korean Won
Russian Ruble
Offshore Chinese Yuan
Canadian Dollar
Mexican Peso
Indonesian Rupiah
Turkish Lira
Singapore Dollar
Chilean Peso
United Arab Emirates Dirham
People: