30 minutes after the SMI closure, we dive into the financial markets which are at the heart of the global economy. By reporting on the national as well as the international stock exchanges, we stress the links between Switzerland and the rest of the world. Our renowned guests play a key role to help us explain and understand the financial world.
CEOs of three major banks, including Credit Suisse, have become the latest to pull out of a conference in Saudi Arabia. According to Costa Vayenas, senior investment consultant at Wellershoff & Partners, they are a reminder for emerging economies that certain rules have to be followed.
Shares in Sonova, the leading hearing-aid maker, have dropped as new players have moved into the market. But according to Sonova CEO Arnd Kaldowski, competitors are not a threat and there’s still room for growth: “In developing countries, the market penetration is only 2 to 3 percent.”
The SMI finished the day up 1.64 percent to 8,794.97 after briefly touching the 8,800 point mark. Sonova dipped after the launch of new hearing aid technologies while Clariant welcomed new faces to its board and at the helm.
Tensions are growing and oil prices are moving higher amid fears of a feud between the U.S. and Saudi Arabia over a missing journalist. Oliver Bell, manager of the Africa and Middle East fund at T. Rowe Price, looks at the economic side of the conflict. In his view, there are lots of reasons to be positive about the Saudi Arabian economy.
How far should Switzerland go when it comes to shielding state-owned companies from foreign takeovers? According to Marco Salvi, senior fellow at think tank Avenir Suisse, Swiss companies don’t need to be saved.
Asian indexes ended the day markedly up, but European stock exchanges struggled to recover fully. The SMI closed slightly up: 0.24% at 8660.25 points. Wall Street remains hesitant, while tech equities in Asia and the U.S. are finding momentum.
U.S. President Donald Trump has said that he doesn’t like the Federal Reserve’s decision to continue to hike interest rates. According to Esty Dwek, senior investment strategist at Natixis Investment Managers, you can’t really blame the Fed alone for the latest market sell-off.
This Thursday, global markets continued to struggle with the SMI hit badly, closing down 2.85 percent to 8,639.19. Tonight’s Markets Summary looks at the sell-off in U.S. stocks and why Swiss banks were hit hard.
For IMF chief Christine Lagarde, India has the potential to become the world’s fastest growing economy. In an interview with CNNMoney Switzerland, Chrys Kamber, head of Indian investments at Picard Angst, sees positive signals despite the macroeconomic headwinds.
Patrice Gautry, chief economist at UBP, explains the weakening of the renminbi is part of Beijing’s response to the trade dispute with Washington. He warns that the RMB could be further devalued. Gautry also gives his assessment on what the finance industry can do against global warming.
The SMI was under pressure today and closed down 0.79 percent to 8,892.88. Global markets showed concern over the Italian budget and trade tensions, while Bitcoin reached its lowest volatility point in 17 months.
Jan Brzezek, CEO and co-founder of Crypto Finance, anticipates volatility and the price of Bitcoin and other cryptocurrencies to increase again soon. Brzezek also explains what his new crypto asset-management license—the first ever granted by Finma—will change.