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Central banks are in focus today, with the Bank of England expected to maintain its rate at 4.50%, while the Swiss National Bank may cut its rate to 0.25%. The Riksbank is anticipated to hold steady at 2.25%, with a dovish outlook possible. In the US, the Fed's recent meeting resulted in unchanged rates, leading to lower rates and a weaker USD, while global equities rose, particularly in the US.
Rabobank's Jane Foley indicates that the US dollar is under pressure, with potential for short-term pullbacks against currencies like the euro, yen, and pound. Recent market movements suggest a shift away from US risky assets due to growth concerns, while the Federal Reserve faces challenges balancing inflation expectations with interest rate decisions.
ECom Teams Sweden AB has announced its insolvency following a dispute with Danske Bank, citing liquidity issues that are no longer deemed temporary. The company accuses the bank of breaching a refinancing agreement and taking 52 million SEK, estimating damages between 100-150 million SEK due to the bank's actions. ECom Teams plans to report Danske Bank to the Financial Supervisory Authority after the bank rejected its refinancing proposal.
Deutsche Bank has lowered its price target for Assa Abloy to SEK310 while maintaining a Hold rating, citing reduced earnings per share estimates due to negative foreign exchange impacts and potential dilutive mergers. The company, trading at $15.38, has shown resilience with an 8.65% return over the past year, but faces challenges from increased fiscal spending in Germany and ongoing U.S. tariffs. Assa Abloy is set to release its first-quarter results on April 23, with expectations of organic growth around 2% and a projected EBIT margin decline to 14.8%.
Germany's Bundestag is poised to pass a constitutional amendment allowing increased borrowing for defense and a €500 billion infrastructure fund, while the UK faces budget cuts. The EUR/GBP is expected to remain below 0.8495, with potential for three more Bank of England rate cuts this year, contingent on improved UK growth prospects.
UBS has downgraded its rating on H&M shares from 'buy' to 'neutral', lowering the price target from SEK 187 to SEK 149. The decision reflects concerns over prolonged sales weakness and operating margin volatility, which may lead to promotional offers that could further impact profit margins.
UBS has downgraded H&M's stock rating to Neutral from Buy, citing weaker-than-expected sales and EBIT margin volatility, indicating a longer turnaround period for the retailer. The forecasted normalized gross margin for fiscal year 2027 has been reduced from 54% to 53%, with the EBIT margin lowered from 10% to 8.3%. Additionally, EPS estimates for fiscal years 2025 and 2026 have been cut by 12% and 19%, respectively, as tactical promotions and external challenges impact gross margins.
UBS has downgraded H&M from "Buy" to "Neutral," reducing its price target from 187 to 149 Swedish kronor. Analyst Sreedhar Mahamkali noted that the company's turnaround is expected to take longer than anticipated, citing volatile sales and operating margins, and a lack of sustainable profitability recovery. Consequently, earnings per share estimates have been cut by up to 19 percent.
UBS has downgraded H&M from "Buy" to "Neutral," reducing its price target from 187 to 149 Swedish kronor. Analyst Sreedhar Mahamkali noted that the company's turnaround is expected to take longer than anticipated, citing volatile sales and operating margins, and a lack of sustainable profitability recovery. Consequently, earnings per share estimates have been cut by up to 19 percent.
UBS has downgraded H&M from "Buy" to "Neutral," reducing its target price from 187 to 149 Swedish kronor. Analyst Sreedhar Mahamkali noted that the company's turnaround is expected to take longer than anticipated, citing volatility in sales and operating margins, and a lack of sustainable profitability recovery. Consequently, earnings per share estimates have been cut by up to 19 percent.
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07:45 20.03.2025
us dollar faces challenges as global currencies gain ground
Swedish Krona
British Pound Sterling
Japanese Yen
Euro
Norwegian Krone
End Federal Reserve USD
Jane Foley
11:04 19.03.2025
eCom Teams Sweden files for insolvency amid dispute with Danske Bank
08:52 19.03.2025
Deutsche Bank lowers Assa Abloy stock target amid economic uncertainties
14:27 18.03.2025
Germany set to ease borrowing restrictions amid UK budget tightening concerns
12:08 18.03.2025
UBS downgrades H&M shares amid prolonged sales weakness and margin volatility
14:42 07.03.2025
UBS downgrades H&M stock to neutral amid sales and margin concerns
11:36 07.03.2025
ubs downgrades h&m to neutral lowers price target to 149 kronor
09:19 07.03.2025
ubs downgrades h&m to neutral with lower price target
09:19 07.03.2025
UBS downgrades H&M to neutral and cuts target price significantly
08:22 07.03.2025
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