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UBS has maintained a "Buy" rating for MTU Aero Engines, setting a target price of 320 euros following a positive forecast adjustment and strong third-quarter results. Analyst Kseniia Maslova noted that the company surpassed market expectations in both new and spare parts sales, as well as in commercial maintenance.
UBS shares rose 0.3% to CHF 27.77 in early trading, maintaining a position above the SMI at 12,160 points. The stock, which started the day at CHF 27.60, is 3.64% away from its 52-week high of CHF 28.78 and 24.81% above its low of CHF 20.88. The dividend estimate for this year is USD 0.823 per share, with Q3 2024 results expected on October 30, 2024.
UBS has maintained a "Buy" rating for Totalenergies, setting a price target of 67 euros, despite expectations of a weak third quarter. Analyst Henri Patricot noted a reduction in estimates for the oil and gas producer, which he believes will fall below consensus expectations.
UBS is set to revise its recovery and emergency plans following the acquisition of Credit Suisse, as mandated by FINMA. The Swiss Financial Market Supervisory Authority has deferred the yearly approval of these plans, citing the need for UBS to enhance its integration efforts to ensure resolvability.FINMA has identified obstacles stemming from the merger that affect UBS's solvency as of December 31, 2023, and is urging the bank to improve its crisis readiness. Meanwhile, UBS has reaffirmed its long-standing partnership with the Mercedes-AMG PETRONAS Formula One Team, emphasizing shared values of innovation and teamwork.
Swiss regulator FINMA has mandated UBS to enhance its emergency protocols following its acquisition of Credit Suisse. The regulator emphasized the need for improved crisis planning to prevent market instability, requiring UBS to develop options for potential insolvency scenarios and ensure adequate liquidity reserves. UBS has begun refining its emergency plans in response to these directives.
Goldman Sachs analyst Chris Hallam has raised his price target for UBS shares from CHF 37.10 to CHF 38.70, maintaining a "buy" rating due to higher expectations for assets under management and anticipated progress in reducing operating expenses. Zürcher Kantonalbank (ZKB) acknowledges potential risks during UBS's integration of Credit Suisse but continues to rate UBS shares as "overweight." UBS is set to release its third-quarter figures on October 30.
UBS faces demanding requirements from FINMA to enhance its emergency plans, particularly as it integrates Credit Suisse. Experts are concerned about the potential need for state intervention in future crises, while UBS is actively collaborating with FINMA to prepare for various scenarios.
UBS has been criticized by the Swiss financial supervisory authority, Finma, for its inadequate emergency plans following its takeover of Credit Suisse. The bank must revise these plans by the end of 2026 to ensure an orderly wind-up in a crisis, amid increasing international pressure for stricter capital requirements and detailed separation strategies. This revision could incur costs in the hundreds of millions and impact profitability and dividend policies, but UBS is cooperating with authorities and views the review as a chance to enhance its resilience.
Nau
UBS is required to revise its contingency and stability plans following its takeover of Credit Suisse, as mandated by the Swiss Financial Market Supervisory Authority (FINMA). The authority emphasized the need for enhanced crisis preparedness, particularly in light of the significant deposit withdrawals faced by Credit Suisse. While FINMA has suspended the annual assessment of these plans for 2024, concerns remain about UBS's increased influence on the Swiss economy post-merger.
EFG Asset Management has appointed Damian Burkhardt as Senior Portfolio Manager for Swiss Equities, based in Zurich. Previously the Head of Swiss Equities at Credit Suisse, Burkhardt will focus on advancing EFG’s growth agenda and managing the New Capital Swiss Small and Mid-Cap Future Leaders Fund. His role will involve systematic analysis and active management to identify investment opportunities in Swiss companies.
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