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UBS shares fell by 0.8% to CHF 27.47 at midday, marking a significant loss in the SMI, which is currently at 12,167 points. The stock, which peaked at CHF 28.78 on June 3, 2024, is 4.77% above its 52-week high and 23.99% below its low of CHF 20.88 from October 27, 2023. Analysts anticipate earnings per share of USD 1.64 for 2024, with Q3 2024 results expected on October 30, 2024.
Finma has mandated UBS to enhance its stabilization and contingency plans following its acquisition of Credit Suisse, emphasizing the need for improved risk management and liquidity strategies. The regulator has temporarily halted approval of these plans, urging UBS to learn from the Credit Suisse crisis, particularly regarding rapid responses to deposit withdrawals. Despite a slight dip in share prices, UBS maintains that it meets current requirements and is actively working to strengthen its liquidation strategies.
The Swiss financial regulator, Finma, has urged UBS to enhance its stabilization and contingency plans following its acquisition of Credit Suisse. This call comes as UBS is required to ensure its Swiss operations can function uninterrupted during potential insolvency risks, emphasizing the need for improved liquidity measures. UBS has acknowledged the need for targeted development of its contingency strategies in light of lessons learned from the Credit Suisse crisis.
UBS is urged by Swiss regulator Finma to enhance its stabilization and contingency plans following its acquisition of Credit Suisse. The regulator has suspended the annual approval of these plans, emphasizing the need for improved crisis preparedness and liquidity measures to protect financial stability and taxpayer interests. UBS acknowledged the need for targeted development of its contingency strategies to ensure uninterrupted operations during potential insolvency risks.
EFG Asset Management has appointed Damian Burkhardt as senior portfolio manager for Swiss Equities, effective immediately. Based in Zurich, he will report to Daniel Murray and focus on developing Swiss equities strategies, leveraging his extensive experience from Credit Suisse Asset Management and Lombard Odier Investment Managers. Burkhardt holds a master's degree from the London School of Economics and is a CFA Charterholder.
The Swiss Financial Market Supervisory Authority has mandated UBS to enhance its crisis contingency plan following its acquisition of Credit Suisse. UBS must develop a more comprehensive liquidation strategy that allows for market exit options without jeopardizing systemic stability or relying on taxpayer funds. Additionally, Finma has suspended the annual evaluation of the bank's stabilization and liquidation plans for this year.
UBS has reduced its price target for Vinci from 134 to 131 euros while maintaining a "buy" rating ahead of the company's third-quarter results. Analyst Gregor Kuglitsch anticipates that Vinci will meet expectations, although order intake is expected to have significantly declined compared to last year due to a number of major orders received previously.
The European life sciences real estate market faces a critical shortage, with vacancy rates in wet labs around 5% and a 30% unmet demand for space. Despite a 40% drop in venture capital funding, rental growth remains strong, particularly in Cambridge and Oxford, as governments push for improved supply chain security and increased domestic production of critical medicines. This shift presents significant investment opportunities for real estate focused on the pharmaceutical sector.
UBS is under scrutiny from the Financial Market Authority regarding its preparedness for a potential crisis, as its failure could destabilize the entire Swiss financial system. The investigation revealed that UBS must implement improvements to better manage emergency situations.
UBS is urged by the Swiss financial regulator Finma to enhance its stabilization and contingency plans following its acquisition of Credit Suisse. Finma has suspended the annual approval of these plans, emphasizing the need for improved crisis preparedness and liquidity measures to ensure UBS can operate without interruption during potential insolvency risks.
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