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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.
easyJet plc, a leading low-cost airline in Europe, carried 82.8 million passengers in 2022/23, with passenger transport accounting for 63.9% of its sales. The company operates a fleet of 336 aircraft, with the UK contributing 53.2% of its revenue, followed by other European regions.
The EUR/USD rate faces pressure ahead of the US CPI inflation data, crucial for the Fed's upcoming rate decision. A consensus increase of 0.27% in CPI could bolster the dollar, while a smaller rise may lead to a Fed rate cut, impacting the greenback negatively. Technically, EUR/USD has stabilized near a one-year low, with a breakout from its current range likely to dictate short-term trends. A breakout above $1.06 could target $1.08, while a drop below $1.04 may lead to parity.
FTSE 100, DAX 40, and S&P 500 are showing mixed movements ahead of the anticipated US November CPI data release. The FTSE 100 has dropped to a three-week low at 8,235, while the DAX 40 finds minor support around 20,260. The S&P 500 is probing its wedge support line near 6,028, with a potential fall towards the psychological 6,000 mark if breached.
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SPI Experiences Afternoon Decline Amid Weak Trading Conditions
Swiss Franc
Peach Property Group AG
SoftwareONE Holding AG
Adecco SA
Talenthouse AG
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Asmallworld AG
Banque Cantonale du Jura SA
Hoffmann-La Roche AG
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Idorsia Ltd
Medartis Holding AG
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17:38 11.12.2024
US Inflation Rises Slightly as Fed Prepares for Interest Rate Cut
15:01 11.12.2024
Silver Price Faces Pressure Ahead of US Inflation and ECB Meeting
14:00 11.12.2024
UBS Restructures US Wealth Management to Focus on Wealthy Clients
13:14 11.12.2024
Ryanair Holdings Maintains Strong Performance with Positive Outlook from UBS
11:45 11.12.2024
UBS Assigns Neutral Rating to Tui with Target Price of 8.28 Euros
11:42 11.12.2024
Global Economic Outlook for 2025 Highlights Growth and Investment Opportunities
11:38 11.12.2024
EasyJet Reports Strong Passenger Growth and Diverse Revenue Streams
11:36 11.12.2024
Dollar Strengthens Ahead of Key US CPI Data and Fed Decision
10:43 11.12.2024
Global Indices Show Mixed Trends Ahead of US CPI Data Release
10:16 11.12.2024
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