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On Wednesday, the SPI index in Zurich fell 0.20% to 16,099.50 points, marking a decline of 0.996% since the start of the week. The index has risen 10.50% year-to-date, with a high of 16,557.98 points and a low of 14,455.60 points recorded this year. Schlatter Industries and Rieter led the gains, while HOCHDORF and Evolva faced significant losses.
Investors are advised to avoid major portfolio changes in response to election developments, focusing instead on managing exposure to vulnerable sectors like consumer discretionary. With President Biden facing scrutiny over his campaign performance and trailing in polls against Trump, election outcome probabilities have shifted, indicating a higher likelihood of a Trump victory. The implications for trade and market volatility are significant, with expectations of increased protectionism regardless of the election result.
Manuel Rybach has been appointed as the new Managing Director of the Association of Swiss Asset Management and Wealth Management Banks (VAV), effective January 1, 2025. Rybach, currently Chief Corporate Affairs Officer at EFG International, succeeds Pascal Gentinetta, who led the VAV for a decade. The VAV represents 23 banks managing over CHF 1,200 billion in assets.
Manuel Rybach has been appointed as the new CEO of the Swiss Association of Asset Management and Private Banking (VAV), effective January 1, 2025, succeeding Pascal Gentinetta. Rybach, currently Chief Corporate Affairs Officer at EFG International, brings extensive experience in public policy and regulatory affairs from his previous role at Credit Suisse. Under Gentinetta's leadership, VAV has strengthened its position as a key representative for wealth management banks in Switzerland, managing over 1.2 trillion francs in assets.
Willbe, a digital asset management service by Liechtensteinische Landesbank, offers a call deposit account with competitive interest rates: 3.30% for euros, 4.25% for US dollars, and 0.85% for Swiss francs, applicable up to 50,000 euros. The account features quarterly interest crediting and is suitable for investors seeking flexibility and sustainability. Customers benefit from statutory deposit protection up to CHF 100,000 and can manage their accounts via an app.
The canton of Lucerne is experiencing a significant rise in demand for housing, leading to a decrease in available rental apartments. As a result, advertised rental prices have surged by 10 percent compared to the previous year, indicating a tightening real estate market.
Basler Kantonalbank (BKB) marks 125 years since opening its first counter in Basel, reflecting significant changes in the banking sector. In an interview with CEO Basil Heeb, insights into the bank's history, evolution, and future are shared, along with a glimpse into BKB's gold vault.
Berner Kantonalbank shares rose by 1.44% to EUR 246.50 on October 2, 2024, despite a 1.02% decline last month. The bank announced a dividend increase to EUR 10.00 per share for 2024, reflecting confidence in its financial stability amid market volatility, with a dividend yield of 4.13%. Investors are closely watching the impact of the current interest rate environment ahead of the quarterly statement in January 2025.
Martin Schlegel, the new CEO of the Swiss National Bank, highlighted significant geopolitical risks during his inaugural speech in Bellinzona, predicting subdued economic growth and a GDP increase of just 1% for the year, below the long-term average. His visit to Ticino was met with pride from local officials, reflecting the region's support for his leadership.
Roche, under CEO Thomas Schinecker, is streamlining its operations by focusing on five key therapeutic areas: neurology, oncology, eye diseases, immunology, and cardiovascular/metabolic diseases. The company is prioritizing promising drugs like CT-388, an injection aimed at significant weight loss, while addressing internal inefficiencies and aiming for faster clinical trials. Despite setbacks, Roche is determined to enhance its drug pipeline and maintain competitive growth in the pharmaceutical market.

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