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St. Galler Kantonalbank (SGKB) has seen a 6.5% increase in corporate clients since the beginning of 2023, attributed to the CS takeover by UBS, according to CEO Christian Schmid. He indicated that the bank is on track for its annual results, maintaining a forecast similar to the previous year, while also considering potential changes in interest rates based on the Swiss National Bank's upcoming decisions. Schmid reaffirmed SGKB's commitment to supporting the Olma trade fairs, where the bank holds a 7% stake.
Thomas Koch, Sales Manager at Raiffeisen Bausparkasse for 22 years, highlights the dynamic nature of sales, achieving over 6.5 million home loan and savings contracts. Despite current challenges in real estate financing, he remains optimistic about a market recovery by 2025, emphasizing the importance of expertise and digital solutions in navigating complexities.
Pig slaughtering in the EU increased by 0.7% to 146 million from January to August 2024, with pork production rising by 1.9% to 13.9 million tons, indicating a halt in the previous downward trend. Pork exports stabilized at 2.50 million tons, with China reducing its purchases by 7.3%, while significant increases were seen in exports to the Philippines, South Korea, Vietnam, and the USA.
The "Big Four" Australian banks are facing scrutiny as analysts warn of overvaluation, particularly the Commonwealth Bank of Australia (CBA), which is trading at a P/E ratio nearly double the long-term average. Despite a strong bullish trend, many experts recommend caution, with predictions of a potential 30% decline in banking stocks next year. Westpac is seen as the best option among the group, while ANZ is favored for its growth potential despite integration risks from its Suncorp acquisition.
UBS has downgraded Mercedes-Benz Group from "Buy" to "Neutral," reducing its price target from 72 to 55 euros. Analyst Patrick Hummel noted that while the company maintains an attractive dividend story, it faces ongoing pressure on car margins. BMW has emerged as UBS's new top favorite.
The biotech sector is experiencing a correction after a pandemic-driven surge, with venture capital focusing on mature companies and M&A activity expected to rise amid regulatory changes. Innovation thrives, particularly in targeted therapies like antibody-drug conjugates and radioligand therapy, as cancer centers adapt to new treatments. Despite challenges, the industry's future appears optimistic, driven by equity capital markets and technological advancements.
Coinbase shares are currently affected by Bitcoin's price fluctuations, trading below $94,000, its lowest in a week. Investors are taking profits as the $100,000 Bitcoin mark remains a psychological hurdle, while attention turns to Fed Chairman Jerome Powell's upcoming speech and US labor market data. Coinbase shareholders face resistance at $340, with a sustained breakthrough needed to target $369.
The economic landscape under Trump 2 is marked by potential growth from tax cuts and deregulation, particularly benefiting financials and energy sectors, while tariffs may negatively impact imports and emerging markets. Gold prices have corrected sharply post-election, influenced by a stronger USD and geopolitical uncertainties, with expectations of continued central bank gold buying. The overall economic outlook suggests a soft landing, but risks from fiscal policies and inflation remain significant.
Glarner Kantonalbank (GLKB) has introduced a new insurance policy from Pax for mortgage customers using the GLKB Hypomat platform, enhancing its innovative financial offerings. Despite recent fluctuations, the bank's share price remains stable at EUR 22.65, reflecting resilience in a challenging market, with a market capitalization of EUR 305.8 million. The bank is also preparing for a significant Board of Directors change, nominating Angela Petruzzi as a successor to Benjamin Mühlemann at the upcoming Annual General Meeting.
UBS has downgraded its recommendations for Forvia and Valeo to "neutral" amid a challenging outlook for the European automotive sector in 2025, citing price pressures, market share losses in China, and stringent CO2 regulations. The bank warns of limited profit margins and volatility in production schedules, while maintaining a "buy" recommendation for Stellantis due to its inventory management. Forvia's new CEO, Martin Fischer, will take over in March 2025 as the company faces significant restructuring risks.
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