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UBS economists have revised their growth forecast for the Swiss economy in 2025 to 1.3%, down from 1.5%, citing potential risks from a sluggish eurozone recovery impacting Swiss industry. For 2024, GDP growth is projected at 1.4%, with inflation expectations also lowered to 1.1% for this year and 0.7% for 2025, which may bolster consumption.
Compenswiss has controversially shifted its custodian bank mandate from UBS to the American firm State Street, sparking political backlash and public concern over Swiss national assets being managed by a foreign entity. Critics argue the decision raises questions about compliance with federal procurement laws and the implications for asset management, despite assurances that the change is purely administrative and does not affect the location or management of the funds.
Glarner Kantonalbank has released its Real Estate Market Report 2024, highlighting stable demand and limited supply in the Glarus housing market. While home prices have stabilized post-interest rate hikes, demand is reviving due to lower financing costs. The report anticipates continued upward trends in residential property prices and rental rates, driven by a growing population and constrained construction activity.
Glarner Kantonalbank has released its Real Estate Market Report 2024, highlighting stable demand and limited supply in the canton of Glarus. While home prices have stabilized post-interest rate hikes, the demand for residential properties is reviving due to lower financing costs. The report anticipates continued upward trends in property prices and rental rates amid a tight market.
Manuel Rybach has been appointed as the new director general of the Swiss Association of Asset Management and Private Banking Banks (VAV), effective January 1, 2025. Rybach, currently Chief Corporate Affairs Officer at EFG International, succeeds Pascal Gentinetta, who has led VAV for the past decade. The association represents 23 banks managing over 1.2 trillion francs in assets.
Severin Schwan's leadership at Roche faces scrutiny amid declining stock prices and research setbacks, contrasting with competitors like Novo Nordisk and Eli Lilly. While Schwan's cautious approach has fostered stability, analysts question the pipeline's potential for future blockbuster drugs, leaving Roche's growth prospects uncertain.
Moody's has affirmed the stable outlook and unchanged ratings for Berner Kantonalbank, highlighting its resilient financial strength and asset quality. The bank's share price rose by 0.88 percent to CHF 229.00, reflecting investor confidence despite risks associated with its regional residential property loan concentration.
UBS has recommended a 5% allocation to gold in diversified portfolios, highlighting its role as a hedge against market volatility. As physical demand for gold and silver rises, particularly in Asia, the silver market faces pressure from low stock levels and weak investor interest. Meanwhile, gold has reached record highs in Swiss francs, reflecting its growing importance as a defensive asset.
EFG International shares, traded on the SWX stock exchange, were valued at CHF 5.66 on October 4, 2019. An investment of CHF 10,000 at that time would now be worth CHF 20,494.70, reflecting a 104.95% increase, with the last closing price at CHF 11.60 and a market capitalization of CHF 3.51 billion.
Recent financials reveal DKSH Holding's net income rose to CHF 111.2 million, despite a slight dip in sales. EFG International reported a net income of CHF 162.8 million for H1 2024, with a dividend yield of 4.74%, while CPH Group's high payout ratio raises concerns about dividend sustainability.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
UBS economists revise Swiss GDP growth forecasts amid eurozone concerns
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