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Verizon (VZ) is set to present at the UBS Global Media & Communications Conference on December 9, 2024, starting at 09:00 AM ET. The event will be accessible via a live webcast at Verizon's investor relations website.
UBS has maintained a "Buy" rating for Brenntag with a target price of 80 euros. Analyst Geoff Haire highlighted that a potential ceasefire between Russia and Ukraine could lead to increased Russian gas exports to Europe, significantly lowering gas prices and benefiting companies like BASF, Covestro, Lanxess, and Yara.
UBS has maintained a "Buy" rating for Wacker Chemie with a target price of 110 euros. Analyst Geoff Haire highlighted that a potential ceasefire between Russia and Ukraine could lead to increased gas exports to Europe, significantly lowering gas prices and benefiting companies like BASF, Covestro, and Lanxess.
El Salvador's pro-Bitcoin stance faces scrutiny as the IMF proposes a $1.3 billion loan contingent on concessions regarding its cryptocurrency policy. The IMF has expressed concerns over financial stability, urging the Bukele administration to cease Bitcoin's status as legal tender.
UBS has maintained a "Neutral" rating for Bayer with a target price of 22 euros. Analyst Geoff Haire highlighted that a potential ceasefire between Russia and Ukraine could lower gas prices significantly, benefiting companies like BASF, Covestro, Lanxess, and Yara in the European chemicals sector.
Global stocks continue to rise, with the MSCI World index achieving its sixth consecutive all-time high, closing up 1.2% for the week and showing a 21.60% gain for 2024 so far. UBS CEO Sergio Ermotti warns that potential tariff increases and geopolitical tensions could heighten market volatility, advising clients to diversify amid the uncertain economic landscape. Despite these risks, he notes that inflation appears controlled and consumer resilience remains strong.
Pension funds reported a positive performance in November, with Swiss funds averaging a return of 1.46%, driven by a strong rally in US equities following the presidential election results. The year-to-date return reached 7.76%, as global equities surged by 4.73%, while bond markets also gained from the prospect of interest rate cuts. Despite the positive outlook, investors should remain cautious of potential market volatility and geopolitical uncertainties.
UBS CEO Sergio Ermotti warned that geopolitical tensions and trade tariffs could lead to increased volatility in financial markets next year. He emphasized the importance of maintaining a well-diversified portfolio amid current uncertainties, while noting that consumers and the economy remain resilient. Ermotti also called for transparency regarding the causes of Credit Suisse's collapse, which UBS acquired last year, highlighting the need for clarity before any regulatory changes that could impact the financial center's competitiveness.
UBS has launched its new international brand campaign, "Crafted For You," directed by award-winning cinematographer Edu Grau, showcasing the bank's expertise in wealth management. The campaign features four vignettes that highlight clients' pivotal moments with the guidance of UBS Financial Advisors, emphasizing themes of legacy, innovation, and personal journeys. Premiering on Bloomberg and CNBC on December 9, 2024, the campaign aims to enhance brand awareness and reinforce UBS's reputation as a leading wealth manager.
EUR/GBP and EUR/JPY remain above key support levels, with EUR/GBP bouncing off the £0.8271 to £0.8260 zone and potentially targeting £0.8312. Meanwhile, USD/JPY trades sideways, struggling to recover from a low of ¥148.65, remaining below the 55-day SMA at ¥150.60.
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