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ubs downgrades zurich insurance shares to sell amid valuation concerns
Zurich Insurance Group's shares declined after UBS downgraded the stock to "sell" from "neutral," citing concerns over valuation, debt leverage, and interest rate sensitivity. The stock is trading at a 30% premium to its five-year average P/E ratio, limiting further appreciation potential. UBS also highlighted the company's heavy reliance on commercial lines, which may struggle to keep pace with inflation, impacting profitability.
Investing.com India
Swiss Franc Zurich Insurance Group AG CHE
Finance & Economy, Market Report
11:38 19.12.2024
fed's hawkish stance unsettles major currency pairs amid dollar strength
The Federal Reserve's recent hawkish stance, signaling a slower pace of interest rate cuts, has led to a surge in the US dollar, causing significant pressure on major currency pairs like AUD/USD, EUR/USD, GBP/USD, and USD/JPY. Traders are adjusting positions as the dollar strengthens, with AUD/USD nearing 2 ¼ year lows and USD/JPY sensitive to the divergence in monetary policy between the Fed and the Bank of Japan. Market expectations now reflect a reduced outlook for rate cuts in 2025, influenced by strong US inflation and economic indicators.
IG
United States Dollar British Pound Sterling Euro Australian Dollar Japanese Yen End Federal Reserve USD Bank of Japan GBR USA AUS JPN Show more
Finance & Economy, Market Report
11:37 19.12.2024
Nestle India assures no impact from Swiss MFN status suspension
Nestlé India has assured stakeholders that Switzerland's suspension of the Most Favoured Nation (MFN) status will not impact its operations, as the company already deducts a 10% withholding tax on cross-border payments. The issue is a government-to-government matter, stemming from a Supreme Court ruling related to the MFN clause in the Double Taxation Avoidance Agreement. Nestlé India continues to invest significantly in the Indian market, reporting a revenue of Rs 24,393.9 crore for the financial year 2023-24.
NewsX World
Indian Rupee Nestlé India Limited Nestlé S.A. IND CHE
Finance & Economy, Market Report
11:08 19.12.2024
nestle india unaffected by switzerland's suspension of most favoured nation status
Nestle India Ltd. stated that the suspension of Switzerland's 'most favoured nation' status for India will have "no impact" on its operations. This decision, stemming from a Supreme Court ruling, is a broader policy issue and not specific to the company, which already applies a 10% withholding tax on cross-border payments. Nestle India remains a significant market for the Swiss FMCG giant, having operated in the country for 112 years.
NDTV Profit
Indian Rupee Swiss Franc Nestlé India Limited Nestle SA IND
Finance & Economy, News Article
10:21 19.12.2024
Raiffeisen faces court ruling in billion euro dispute with Russia
Raiffeisen Bank International faces a critical court ruling in Russia regarding a $2 billion lawsuit that has frozen its local operations, complicating efforts to divest its Russian business amid U.S. and European pressure following the Ukraine war. The bank, which holds significant assets in Russia, intends to appeal the court's decision, while the case stems from a lawsuit by Russian investment firm Rasperia against Raiffeisen and Austrian construction company Strabag. Despite attempts to navigate the situation, including a failed stake purchase in Strabag, the bank's future in Russia remains uncertain as it grapples with sanctions and legal challenges.
MarketScreener
Euro United States Dollar Strabag SE Raiffeisen Bank International AG AUT RUS USA UKR Oleg Deripaska Show more
Finance & Economy, Market Report
09:09 19.12.2024
Raiffeisen faces critical court ruling in billion dollar Russia dispute
Raiffeisen Bank International faces a critical Russian court ruling next week in a $2 billion case that has frozen its operations in the country, complicating efforts to spin off its Russian business amid U.S. and European sanctions following the Ukraine war. The court's decision prevents the bank from unlocking its substantial assets in Russia, where it has around €6 billion in deposits and international payments. Raiffeisen intends to challenge the ruling, which stems from a claim by Russian investment firm Rasperia against the bank and Austrian builder Strabag.
reuters.com
Euro United States Dollar Strabag SE Raiffeisen Bank International AG AUT RUS USA Oleg Deripaska Show more
Finance & Economy, News Article
09:09 19.12.2024
Raiffeisen faces critical court ruling in billion dollar dispute with Russia
Raiffeisen Bank International faces a critical Russian court ruling next week in a $2 billion lawsuit that has frozen its operations in the country, complicating its efforts to divest amid U.S. and European sanctions following the Ukraine war. The case, initiated by Russian investment firm Rasperia, seeks compensation related to Raiffeisen's failed acquisition of a stake in Austrian carmaker Strabag. With around €6 billion in Russia, the bank's future remains uncertain as it navigates intense pressure from Western authorities and ongoing tensions with Moscow.
Zonebourse
Euro United States Dollar Strabag SE Raiffeisen Bank International AG AUT RUS USA UKR Oleg Deripaska Show more
Finance & Economy, News Article
09:09 19.12.2024
eur usd hits two year low as fed signals hawkish stance
EUR/USD has dropped to a two-year low below $1.04 following a hawkish stance from the Federal Reserve, which cut rates by 25 basis points but significantly lowered its rate cut expectations for next year. The market anticipates a soft PCE inflation report, which could influence the currency's movement.Currently, EUR/USD is consolidating at the bottom of its long-term range, with a critical level at $1.04. A close below this level could signal a bearish outlook, while a bounce could target the 200-session moving average around $1.08.
IG
Euro United States Dollar USA
Finance & Economy, Market Report
08:56 19.12.2024
Major currency pairs decline sharply following hawkish Federal Reserve statements
AUD/USD, EUR/USD, and GBP/USD have sharply declined following hawkish comments from the Fed. AUD/USD has reached a 13-month low of $0.62, with support at $0.6171. EUR/USD has dropped to a November low, while GBP/USD slid to a three-week low of $1.2562, facing resistance at $1.2608 to $1.2617.
IG
Euro United States Dollar British Pound Sterling Australian Dollar Jerome Powell
Finance & Economy, Market Report
08:43 19.12.2024
europe faces economic challenges as swiss industry struggles in 2025
The global economy in 2025 is marked by diverging trends, with the US showing resilience and growth, while Europe faces stagnation and uncertainty, particularly in the industrial sector. Switzerland's economy is expected to grow moderately at 1.3%, driven by a strong chemical and pharmaceutical industry, despite challenges from a strong franc and weak industrial demand. Political instability and delayed reforms in Europe hinder recovery, raising risks of a downward spiral in industry.
Moneycab
Euro Swiss Franc United States Dollar Raiffeisen-Osteuropa-Rent Swiss National Bank USA CHE DEU CHN Donald Trump Show more
Finance & Economy, Market Report
07:10 19.12.2024
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