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On October 24, 2024, Schwyzer Kantonalbank hosted a business event at the Hotel Seedamm Plaza in Pfäffikon, attracting around 150 guests. This gathering marked the latest edition of the bank's event series, focusing on world politics.
The upcoming US election poses significant implications for markets, with a Trump victory likely leading to US equity outperformance and potential tariff risks, while a Harris win could favor emerging markets. A Republican sweep may drive yields higher due to increased deficits, despite a healthy economy. Overall, risk assets are expected to perform well in 2024, regardless of the election outcome.
UBS has maintained its "Buy" rating for Michelin, setting a target price of 43 euros, following disappointing third-quarter sales figures. Analyst David Lesne noted a decline in specialty sales and weak demand from car manufacturers, leading to a lowered earnings forecast for the year.
An investment of $1,000 in UBS five years ago would now be valued at $2,660.26, reflecting an impressive average annual return of 21.35%, outperforming the market by 7.7%. UBS currently holds a market capitalization of $103.02 billion, highlighting the significant impact of compounded returns over time.
The Rhaetian Parliament has approved a motion to provide a 100 million franc aid package to hospitals facing significant financial difficulties, with deficits rising to 23 million francs from 2019 to 2023. The plan includes loans and increased contributions to ensure decentralized healthcare remains viable, while a competing short-term proposal was rejected.
Berner Kantonalbank (BEKB) shows resilience amid market volatility, with a current share price of EUR 248.00, reflecting a slight decline of 0.40% on October 24, 2024. However, the share has gained 2.47% over the month and is 4.23% above its 52-week low. Solid fundamentals support its performance, with an expected dividend of EUR 10.00 per share for 2024, yielding 4.13%. The price/earnings ratio stands at 13.22, indicating fair valuation, while a price/cash flow ratio of 1.32 highlights financial stability, making BEKB an attractive option for investors.
The UBS ETF - MSCI World Socially Responsible ETF A has seen a rise of 0.94 percent, trading at EUR 1.44 in STU trading. The fund reached a daily high of EUR 154.22, starting at EUR 153.62, with a total of 67,005 shares traded. On October 17, 2024, it peaked at EUR 155.94, marking its highest level in 52 weeks.
Sygnum, a Swiss bank specializing in digital assets, has opened an office in Lugano to enhance local services and support the city's Bitcoin initiative, Plan B. This move aims to foster collaboration within Lugano's growing digital ecosystem and includes the launch of Bitcoin@Sygnum to promote partnerships and research in the Bitcoin space. Mayor Michele Foletti emphasized the importance of this development for Lugano's economic growth and innovation in blockchain technology.
The Federal Council is proposing reforms to survivors' pensions to address gender inequality and reduce financial burdens on the AHV system. The changes would limit widows' pensions while extending benefits for widowers, with a projected savings of CHF 350 million by 2030. The bill is set for parliamentary debate in 2025, amid anticipated resistance from leftist parties.
The healthcare industry has reached a wage proposal agreement, while Israel intensifies its military actions against Hizbullah in Lebanon, leading to a worsening humanitarian crisis. In other news, the Swiss Farmers' Association supports expanding national roads despite the loss of cultivated land, and entrepreneur Roberto Martullo is set to acquire the shoe manufacturer Künzli, with the transition overseen by previous owner Barbara Artmann until mid-2025.

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