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OPEC+ is expected to extend its production cuts for an additional three months into early 2025, as current market conditions and seasonal demand trends do not support an increase in output. Analysts at UBS caution that a premature output increase could push Brent crude prices below $70 per barrel, emphasizing the group's historical focus on market stability. The alliance's strategy reflects a recognition of a balanced oil market, with a surplus anticipated in 2025 due to rising non-OPEC+ supply and sluggish demand growth.
UBS has maintained a "Buy" rating on Adidas with a target price of 280 euros, highlighting the brand's strong positioning in the North American market amid competitor Nike's weaknesses. Analyst Zuzanna Pusz notes that this region could drive significant growth for Adidas in the coming years.
Bawag Holding is gaining traction in the banking sector, with shares on an upward trend and targeting EUR 74.40. Analysts are optimistic, with eleven out of twelve recommending a buy and an average price target of EUR 88.09, indicating potential for institutional interest. The stock's technical indicators suggest a strong trend phase may be emerging.
Bitcoin remains below the $100,000 mark, causing tension among investors, with a recent price dip to under $96,000. The resignation of SEC Chairman Gary Gensler may provide relief, as investors anticipate a more crypto-friendly successor. Upcoming Fed minutes and US price data could influence market movements, with profit-taking expected as the psychological barrier of $100,000 looms large.
The UBS ETF - MSCI World Socially Responsible ETF A experienced a notable increase, rising 0.02 percent to EUR 0.04 during STU trading. The fund reached a peak of EUR 164.84, marking its highest level in 52 weeks, after starting the day at EUR 164.46. Recent trading activity saw 38,887 shares exchanged.
Ten years ago, UBS shares were priced at CHF 16.95. An investment of CHF 100 at that time would now yield 5,900 shares, valued at CHF 166.96 as of November 22, 2024, reflecting a 66.96% increase. UBS currently holds a market capitalization of CHF 90.20 billion.
The euro has reached its lowest exchange rate against the Swiss franc since January 2015, with experts likening it to the Italian lira due to ongoing economic concerns in the Eurozone. Analysts attribute the euro's weakness to slower growth compared to the U.S. economy and suggest that reforms in tax competition and labor markets are necessary for improvement. Additionally, Germany's reliance on a weak euro may hinder its competitiveness, while broader issues, including France's economic struggles and geopolitical tensions, further complicate the situation.
Ivan Adamovich, CEO of Private Client Bank, likens the euro to the former Italian lira, citing its weakness amid concerns over Eurozone growth. The euro recently fell to its lowest value against the Swiss franc since 2015, driven by economic disparities with the U.S. and internal challenges in Germany and France. Adamovich suggests that reforms in tax competition and labor markets are essential for improvement, but no changes are anticipated soon.
US equity index futures rose following President-elect Trump's selection of Scott Bessent as Treasury Secretary, contributing to the Dow's record close above 44K, up 2% last week. Despite positive US PMI data, consumer sentiment fell short of expectations, while asset managers reduced their net long positions from 76% to 63%. IG client sentiment shifted to extreme short at 79%, contrasting with CoT speculators' reduced net long positions at 62%.
The Dollar Index fell 0.6% at the week's start, influenced by a 10 basis point drop in the US 10-year yield. Concerns over U.S. fiscal debt sustainability topped the Fed's financial stability report, alongside geopolitical tensions and political uncertainty. The bond market reacted positively to a recent appointment, though its long-term impact on the dollar and interest rates remains uncertain.
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