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Living in large Swiss cities like Zurich and Geneva has become increasingly unaffordable for families, leading to a rise in the attractiveness of agglomerations and medium-sized cities such as Aarau, Murten, and Martigny. These areas offer good infrastructure, leisure facilities, and significantly lower rents. While there is a risk of rising prices in these locations, they are unlikely to reach the levels of the major cities, making them appealing for families and high earners alike.
Locarno has been identified as the most attractive municipality to live in Ticino, followed by Tenero-Contra and Muralto, according to a UBS study. The ranking considers factors like housing costs and infrastructure, revealing that medium-sized towns often outperform larger cities. For wealthier families, Locarno remains first, with Lugano and Muralto following.
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UBS has maintained a "Neutral" rating for HSBC Holdings, setting a target price of 658 pence. Analyst Jason Napier highlighted the uncertainty surrounding restructuring costs as the bank adapts to a new structure, which could involve significant expenses, although new CEO Georges Elhedery may find ways to reduce costs.
UBS has maintained a "Buy" rating for Munich Re, setting a target price of 565 euros following the third-quarter results. Despite a weaker-than-expected profit, analyst Will Hardcastle anticipates only a cautious negative market reaction and does not foresee significant adjustments to the reinsurer's estimates.
UBS plans to sell its 50% stake in Swisscard to American Express, making the latter the sole owner. Credit Suisse customers will transition to UBS's credit card platform, with no immediate impact on cardholders. UBS is also focused on cutting costs post-acquisition of Credit Suisse to enhance operational efficiency.
UBS has maintained a "Neutral" rating for Salzgitter AG, setting a target price of 17 euros. The steel and tubes manufacturer has issued another profit warning, indicating potential downside for the 2025 estimates, according to analyst Andrew Jones.
BancaStato's "Award for Corporate Sustainability" has announced five finalists from over 50 nominations, recognizing projects that promote sustainable development in Ticino. The winners will be revealed on November 11 at the LAC in Lugano, with a total prize of 80,000 francs. The award reflects BancaStato's commitment to integrating sustainability into its corporate strategy, supporting local SMEs in their environmental and social initiatives.
Germans are working fewer hours, with the average for full-time employees dropping to 39.8 hours per week in 2023, down from 40.7 hours in 2011. The rise in part-time employment, now at 30.9%, exacerbates the issue, as overall working hours decline, raising concerns about the economy's future and the skilled labor shortage.
UBS's Residential Attractiveness Indicator ranks Swiss municipalities based on factors important for families, such as access to schools, public transport, and shopping. Medium-sized centers are deemed most attractive, though high property prices often accompany excellent infrastructure and leisure facilities. In various regions, municipalities like Aarau, Basel-Stadt, and Murten lead in attractiveness, reflecting a balance of income and amenities.
UBS shares fell by 0.7% to CHF 27.81 during trading, making it one of the SMI's losers. The stock peaked at CHF 27.79, down from an opening of CHF 27.95, with 652,441 shares traded. The 52-week high is CHF 28.78, requiring a 3.49% gain to reach it, while the low stands at CHF 20.88, a 24.92% drop from the current price. The dividend estimate for this year is USD 0.823 per share, with Q3 2024 results expected on October 30, 2024.

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