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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
AUD/USD and EUR/GBP have fallen to multi-year lows, with AUD/USD dropping to a 13-month low following the RBA's decision to maintain rates at 4.35% while adopting a dovish stance. EUR/GBP has slipped to a 2¾-year low, facing resistance in the £0.8260 to £0.8271 range. Meanwhile, EUR/USD is retreating from a recent high, approaching last week's low of $1.0461.
AXIS Capital's President and CEO Vince Tizzio and CFO Pete Vogt will participate in a fireside chat at the 2024 UBS Global Specialty Insurance/Reinsurance Virtual Conference on December 17, 2024, at 9:15 am Eastern Time. The discussion, moderated by UBS analyst Brian Meredith, will be accessible via a live webcast, with an archived replay available afterward.
The UBS ETF - MSCI World Socially Responsible ETF A has seen a recent upward trend, gaining 1.02% to reach EUR 1.68 in STU trading. The ETF's price peaked at EUR 166.22 during the day, starting at EUR 164.58, with a total of 148,543 shares traded. On December 4, 2024, it hit a 52-week high of EUR 166.36.
The SPI index fell by 0.22% to 15,567.40 points on Friday, with a market capitalization of €2.094 trillion. It has decreased by 0.336% this week and is down from 16,096.21 points a month ago, though it has risen 6.85% since the start of the year. Top performers include Pierer Mobility (+21.49%) and Banque Cantonale du Jura (+4.85%), while Peach Property Group saw the largest decline at -33.41%.
US inflation rose slightly from 2.6% to 2.7% in November, while core inflation remained steady at 3.3%. Despite this increase, the Federal Reserve is expected to proceed with a 25 basis point interest rate cut, as the key interest rate remains above inflation levels. Rents continue to drive price increases, with used car prices also contributing negatively, though airline ticket price growth has slowed. Looking ahead to 2025, core inflation is anticipated to decline, although potential punitive tariffs could introduce new price pressures.
Market participants are on edge ahead of the US inflation data release, with expectations of a slight increase to 2.7% from 2.6%. This could impact interest rate cut prospects, particularly as the ECB is anticipated to lower rates for the fourth time this year, potentially affecting silver investments. The ECB's key interest rate decision is set for Thursday, with a possible reduction to 3.0%.
UBS is restructuring its U.S. wealth management business to focus on wealthy clients, excluding the super-rich. The new organization will consist of six divisions, including regional centers and a segment for clients with limited assets, primarily served through digital channels. Rob Karofsky will lead the U.S. wealth administration business alongside Iqbal Khan.
Ryanair Holdings plc, a leading low-cost airline in Europe, carried 184 million passengers in 2023/24, with passenger transport accounting for 68% of its sales. The company also generates 32% of its revenue from services, including charter sales and vehicle rentals. As of March 2024, Ryanair operated a fleet of 537 aircraft, with significant sales contributions from Italy (21.2%), Spain (18%), the UK (15.1%), and other regions (39.8%).
UBS has rated Tui as 'Neutral' with a target price of €8.28. The stock closed at €8.69, reflecting a 3.26% increase. Trading activity across various exchanges showed slight variations, with Xetra reporting a closing price of €8.74, up 3.33%.
Raiffeisen KAG's outlook for 2025 indicates a positive year for capital markets, with global economic growth projected at over 3%. While the US is expected to lead in growth, Europe may see slight improvements, and inflation is anticipated to decline across regions. Despite geopolitical tensions and potential trade restrictions, the overall market conditions for equities and bonds appear constructive.
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