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The Canton of Vaud will receive CHF 286 million for the 2024 financial year, including CHF 254 million in dividends. Despite a decline in profits, the Board of Directors will propose a dividend increase to CHF 4.40 per share at the upcoming Annual General Meeting. Ingrid Deltenre will resign from the Board, with Sandra Hauser proposed as her successor, bringing extensive experience in technology and finance. BCV reported stable revenues of CHF 1.16 billion, with net profit at CHF 441 million, marking the second-best results in its history.
Swiss equities showed slight gains, with the SMI rising 0.4% to 12,624 points, supported by strong performances from Holcim (+3.7%) and UBS (+3.6%). Optimism among Swiss entrepreneurs and a positive impulse from the Bank of England contributed to the market's mood, despite losses in major pharmaceutical stocks Roche (-1.2%) and Novartis (-0.9%).
Analysts have made several notable adjustments to their recommendations and price targets for various companies. Airbus and LVMH saw target increases, while Akzo Nobel was downgraded from buy to hold. TotalEnergies and UBS Group also received target raises, reflecting a generally positive sentiment in the market.
The Swiss stock market opened lower amid rising global protectionism, influenced by new US tariffs on imports from China, Canada, and Mexico. The Swiss Market Index fell 0.85%, with only four of the thirty leading stocks gaining, including Lonza and Novartis. Analysts note that the escalating trade war is affecting Europe as well, highlighting the complexities of international trade relations.
Swiss CEOs, including those from Zurich Insurance and Novartis, are urging Europe to adopt a more dynamic, deregulated approach similar to the U.S. under the new administration. They argue that Europe's regulatory focus is stifling innovation and competitiveness, particularly in technology and pharmaceuticals. As the U.S. pushes for manufacturing growth and tax advantages, European leaders are called to act decisively to enhance their economic landscape.
Julius Baer has appointed Rolf Olmesdahl as the new Head of the Core Banking Program, effective Monday. With over forty years of experience in the financial IT sector, Olmesdahl will focus on overhauling the bank's core banking system in Switzerland and Guernsey, reporting directly to the COO. His previous roles include management positions at UBS, CS, Raiffeisen, and Zurich Insurance, with his most recent position at Credit Suisse.
Rolf Olmesdahl, a seasoned IT specialist with over 40 years of experience, has joined Julius Baer as Head of the Core Banking Program. He will oversee the renewal of the bank's core banking system for its booking centers in Switzerland and Guernsey, reporting directly to the COO. Olmesdahl previously held leadership roles at major Swiss banks, including UBS and Credit Suisse.
Rolf Olmesdahl, previously a key figure in Raiffeisen Switzerland's management, is being considered for the CEO position following the departure of Heinz Huber after an IT crisis. With a background in computer science and significant experience in banking, including a successful tenure at UBS, Olmesdahl has been instrumental in IT transformations and is currently overseeing the integration of Old CS Switzerland into New UBS.
Zurich Insurance Group has been downgraded to a "strong sell" by UBS Group, following a similar rating cut from BNP Paribas. The stock fell 0.3% to $29.85, with a 12-month range between $23.46 and $32.04. Analysts suggest that other stocks may offer better investment opportunities.
Zurich Insurance Group has been downgraded to a "strong sell" by UBS Group, following a similar rating cut from BNP Paribas. The stock fell 0.3% to $29.85, with a 12-month range between $23.46 and $32.04. Analysts suggest that other stocks may offer better investment opportunities.
Zurich Insurance Group AG
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
bank cantonale vaudoise reports stable revenues and proposes dividend increase
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00:01 24.01.2025
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07:15 30.12.2024
zurich insurance group downgraded to strong sell by multiple analysts
16:46 21.12.2024
zurich insurance group downgraded to strong sell by multiple analysts
16:46 21.12.2024
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