Warrants have gained in popularity over the past decade, but are more and more challenged by CFDs and the growing offer in Switzerland. Both products offer leverage and the possibility to profit from rising and falling markets, yet they are inherently different. So what really sets them apart? And most importantly, which is best for you?
According Tidjane Thiam, Credit Suisse CEO, the bank does not need a further capital increase. In an interview given to the agency Bloomberg, the manager claims that, in the light of most of the scenarios, the institute does not need an additional injection of money. Meanwhile, the bank continues with the restructuring; the process, which will involve the sacrifice of 6,000 jobs, calls for strengthening of asset management at the expense of the investment bank.
The Federal Statistical Office (FSO) today released the quarterly statistics of the border in Switzerland. If in Ticino in the first quarter of 2016, the data registers 62 647, or + 0.3% compared to the last quarter of 2015, compared to the same quarter last year is -0.5%. At the Swiss level, frontier workers are 306,245, 0.7% more than in the previous quarter and 3.8% more than in the same quarter last year. According to the data, growth in the second quarter covers the whole of Switzerland: + 1% in the Lake Geneva region (+ 5.4% over one year), up 0.6% in the Central Plateau, + 0.7% in Northwestern Switzerland, + 0.6% in Zurich, + 0.9% in Eastern Switzerland and + 4.5% in the middle.
The EU Council will not give any sanction to Spain and Portugal for failure to meet the deficit. The Community body preferred to deal with the situation by giving more space to the two Iberian countries, which will still have to take corrective measures and present a new budget plan by October 2017. The operations to be implemented in the fall will have to be aimed at reducing the budget deficit from 4.4% at end 2015 to 2.5% by the end of this year to Lisbon, and Madrid will have until 2018 to reach the target of 3% from 5.1% last year. Greater flexibility, and, for Spain, which will bring the 4.6% in December, 3.1% in 2017 and 2.2% by 2018, in the light of a more uncertain political situation given the lack of a permanent government by the end of 2015.
Chinese import-export still firm in July. Exports of the Asian giant were down by 4.4% on an annual basis, while imports fell by 12.5%, the steepest drop since January. For the first few analysts predicted a decline of 3%, 7% for the latter. Imports were well down in 21 of the last 24 months, exports in 12 of the last 13. The balance was a surplus net trade balance of 52.31 billion dollars, the highest since January. And so, in the first 7 months of the year, China's imports from the rest of the world decreased by 10.5% on annual basis (-8% in 2015), while exports fell by 7.4%.
In Switzerland, buy real estate is more attractive than investing in stocks. The benefit would be linked to greater efficiency and / or reduced risk, according to a survey done by the brokerage firms Moneypark. The 80 experts questioned sector in the first quarter of 2016 argue that the prices of properties owned should remain stable or drop slightly at most. Nearly half of respondents believe that it is a consolidation of the constant prices markets and excludes a housing bubble.
The food delivery market is going to be more and more competitive. According to Rocket Internet estimates, its value is around 90 billions of dollars, an element that is carrying several big players, such as Uber and probably Amazon, soon to enter the European market. Deliveroo, London-based company born in 2013, has decided to "pump fresh cash", through a collection funding and raises $ 361 milllion, tanks to a group of new investors led by private equity fund Bridgepoint. In less than three years, the start-up has already put together $ 475 million that drives up the evaluation, though analysts do not unbalance of what could be the company's value on the market.
The Swiss tourism industry saw a drop in the first half: the hotel industry registered 16.8 million overnight stays, with a 1.2% decline compared to the same period last year. The decrease was due to foreign guests (-2.5%), while domestic demand has held (+ 0.5%). According to figures published today by the Federal Statistical Office (FSO) at the regional level, the Ticino has a low step back (-0.1% to 916'190 nights), an improvement compared to the same period of 2015 (-5, 2%).
The unemployment rate in the US for the month of July remained stable at 4.9%. This was announced by the US Department of Labor. The same source also reported that the new jobs in non-agricultural sectors increased by 255 thousand units. In this case, the figure was higher than analysts' expectations. The estimates, in fact, pointed to an increase of 180,000 jobs. Revised upwards the detection of June to 292,000 jobs from 287,000 earlier.
Support at 100.70 holds, meaning there is still a good chance of a rally, first up to 103 and then up to 105 yen. The former resistance is created by the monthly pivot point, while the latter a lot denser supply zone is much less likely to let the price increase further. There the bulls will encounter the six-month down-trend and the 55-day SMA. Alternatively, if the scenario suggested by the indicators materialises and both 100.70 and 100 fall victim to the selling pressure, we will expect a bullish correction to start only circa 97 yen, when the rate meets the lower bound of the bearish channel.
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