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In his first address to Congress since returning to office, Trump defended his economic policies, including new tariffs, and emphasized his commitment to "make America rich again." He faced hecklers and criticized Democrats for their lack of decorum, while also expressing a desire for the U.S. to welcome Greenland. The speech, lasting nearly 100 minutes, focused on domestic issues, culture wars, and his administration's efforts to eliminate diversity programs.
UBS Global Research has downgraded Erste Group Bank AG to a "neutral" rating from "buy," citing concerns over capital distribution and profitability sustainability. Following a 36% stock rise over three months, Erste's shares fell 7% post-earnings, with UBS projecting a decline in return on tangible equity to 14-15% by 2027 unless capital distributions increase. The new 12-month price target is set at €65, reflecting lower earnings projections and reduced cost of equity.
WTI oil prices have dropped nearly 15% to around $67 per barrel, influenced by trade tensions, increased OPEC+ production, and easing geopolitical tensions regarding Ukraine. The market is cautious as new tariffs may be implemented, and US economic indicators show signs of weakness, raising concerns about energy demand. The price is nearing a significant support level at $66, suggesting a potential buying opportunity, but the overall economic outlook remains uncertain.
Silver prices are hovering around $32, influenced by tariff concerns and upcoming US labor market data. The US President has halted military aid to Ukraine, prompting potential countermeasures from affected countries, while key economic indicators are set to be released this week, including non-farm payrolls and a speech by Fed Chairman Jerome Powell.
Gold prices surged to nearly a record high, reaching $2,921 per troy ounce amid rising concerns over the new US administration's aggressive tariff policies, which have sparked fears of a potential trade war. Analysts highlight increased demand for safe havens like gold due to geopolitical risks and uncertainty in the market following the US's military support changes for Ukraine.
UBS has downgraded Erste Group Bank from Buy to Neutral, raising the price target to EUR 65.00 after a 7% drop in shares post-Q4 results, despite an 80% annual return. Deutsche Bank, however, increased its price target to EUR 72.00, maintaining a Buy rating, citing strong operational results and a positive outlook for 2025. Investors are advised to monitor the bank's performance closely amid varying forecasts and potential shareholder distributions.
UBS downgraded Erste Group Bank from Buy to Neutral, raising the price target to EUR65.00 after a 7% drop in shares post-Q4 results. Despite strong capital and an 80% annual return, UBS anticipates slower shareholder distributions, while Deutsche Bank remains optimistic, increasing its target to EUR72.00.
UBS has downgraded Erste Group Bank's shares from "Buy" to "Neutral," while raising the price target from €63.00 to €65.00, following a 7% drop post-Q4 results. Despite a strong capital position and an 80% annual performance, the bank's management is focusing on inorganic growth, delaying significant shareholder distributions. Meanwhile, Deutsche Bank has increased its price target for Erste from €69.00 to €72.00, maintaining a "Buy" recommendation, citing solid operating results and a promising outlook for 2025.
Gold prices are on a record rally, driven by geopolitical tensions and US trade policies, with UBS raising its price target to $3,200 for later this year. Central bank demand, particularly from China, is also contributing to this upward trend, as gold is increasingly viewed as a safe haven asset amid economic uncertainty. Investor positioning remains weak, indicating potential for further portfolio additions.
Elon Musk's Department of Government Efficiency (DOGE) claims to have saved $105 billion through various cost-cutting measures, though the figure remains unverifiable due to a lack of supporting receipts. The latest update reveals $8.8 billion in savings from 2,334 canceled contracts and $10.3 billion in terminated federal grants, but many details are missing, including the agencies involved in some terminated leases. The site has faced scrutiny for backtracking on earlier claims and for inconsistencies in reported savings.
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07:14 05.03.2025
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