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Raiffeisen Chief Economist Fredy Hasenmaile discussed interest rates, foreign exchange markets, and the real estate sector, highlighting the impact of falling rates on yields and vacancy rates. A building boom is evident in some Rhine Valley villages, though construction activity varies significantly across the region. The event concluded with networking among real estate experts.
Saxenhammer, a management consultant specializing in SMEs, has opened its first Swiss office in Zurich to address the growing demand for M&A advice among local businesses. Led by Andreas Pöllen, the firm aims to provide tailored solutions in valuation, succession, acquisitions, and financing, amidst a shift from traditional bank loans to alternative financing models. The move comes as Swiss SMEs face increasing pressures for expansion and transformation, particularly following changes in the local corporate financing landscape.
Coinbase shares and Bitcoin are nearing record highs, driven by speculation around a potential takeover of Bakkt Holdings by the Trump Media and Technology Group and the recent launch of Bitcoin options trading on Nasdaq. The psychological milestone of $100,000 for Bitcoin could attract more investors but may also prompt profit-taking. Despite the bullish sentiment, risks remain, particularly if regulatory changes in the U.S. fall short of expectations.
Global indices, including the FTSE 100, S&P 500, and Nikkei 225, are facing early pressure following Nvidia's recent earnings report, contributing to a cautious market sentiment. The FTSE 100 has fluctuated around 8100, with resistance noted below 8200 and support at 8300. The S&P 500 shows indecision, maintaining a short-term low near 5850, while the Nikkei 225 has dropped, with critical support at 37,700.
Julius Baer reported a rise in net new money during the July-October period, with inflows accelerating to 7.5 billion Swiss francs, an annualized rate of 4.8%. Assets under management reached 480 billion Swiss francs, marking a 12% year-to-date increase. The bank's new CEO, Stefan Bollinger, will begin his role on January 9, 2024.
Bill Hwang, founder of Archegos Capital Management, has been sentenced to 18 years in prison for fraud and market manipulation following the fund's collapse in 2021, which affected major banks like Credit Suisse and Nomura. Hwang was convicted on ten counts after misleading banks to finance risky investments, leading to a staggering $160 billion market exposure. A hearing regarding potential compensation is set for Thursday, while the former CFO, Patrick Halligan, awaits sentencing on January 27.
In the 2023/24 financial year, agricultural enterprises in regions with a Chamber of Agriculture experienced a significant decline in results, averaging a drop of over a third, with losses ranging from 29% to 52%. While dairy farms saw their earnings roughly halved, organic farms maintained stability with net profitability exceeding 100%. Looking ahead, weak yields and low prices in arable farming are expected to further impact income, despite rising raw milk prices benefiting milk producers.
The ASX 200 fell 18 points (-0.22%) to 8307 by 2.00pm AEDT, retreating from early gains after Nvidia's disappointing Q3 earnings and lower Q4 revenue guidance raised concerns. Geopolitical tensions and a rejection from trend channel resistance prompted investors to adopt a cautious stance.In sector performances, consumer discretionary stocks dropped nearly 3% from record highs, while technology shares were impacted by Nvidia's results. Gold mining stocks gained as bullion prices rebounded, and the banking sector showed mixed results among major banks.
Arthur Lewis, president of Dell Technologies' Infrastructure Solutions Group, will participate in a fireside chat at the UBS Global Technology and AI Conference on December 3, 2024, at 2:15 p.m. MT. The event will be available via live webcast and replay on Dell's Investor Relations page.
The NASDAQ 100 index is experiencing volatility but is moving higher ahead of NVIDIA's earnings report, with potential gains targeting early October highs around 21,200. The Dow remains steady after dipping below 43,000, while the DAX attempts to stabilize after dropping below 19,000, with hopes for a bounce if it closes above 19,300. Overall, the recent pullback appears to be a correction within a broader uptrend.
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