News

09.05.2017

Wall Street VIX Index falls to lowest since 1993

The most widely monitored ‘fear gauge’ on Wall Street has fallen to its lowest level since 1993, helped by one of the strongest corporate earnings seasons in years, geopolitical risks around North Korea cooling off, and Emmanuel Macron’s French presidential victory removing a possible source of upset across Europe. The CBOE Volatility Index, better known as the VIX and the most widely followed barometer of expected near-term stock market volatility, closed at 9.77, its lowest close since December 1993, according to Bloomberg data. The index is the most widely followed barometer of expected near-term stock market volatility and tends to spike when there are potential sources of shock on the horizon. But analysts said this week that there are no obvious risky events immediately in the pipeline and macro-economic data has been relatively robust too.

 
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09.05.2017

Adecco's profit rose in Q1, good news by French elections

Adecco's first-quarter profit rose more than a fifth, better than expected, as the world's largest temporary staffing company continued to get a boost from major markets in southern Europe while projecting modest growth in the U.S. Net profit attributable to shareholders rose to €176 million ($192.2 million) in the three months to March, beating the average estimate of 165 million in a Reuters poll of analysts. Sales rose to €5.73 billion, better than the poll average of 5.68 billion. Dutch staffing company Randstad last month reported a 21 increase in net profit during the quarter, boosted by strong growth in France and Germany. U.S. rival Manpower's earnings rose 3.8 percent in the first three months as it saw broad improvement across Europe.

 
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09.05.2017

Apple climbs over the $800 billion wall

Apple is the world's most valuable publicly traded company, and it just broke its own record. Shares opened at $149.06 a piece on Monday, with 5.2 billion outstanding shares. Following a positive analyst report, Apple’s shares rose over 3% in midday trading to a record high of $153.70. At one point, the company's market value rose above $800 billion before retreating below that barrier. Apple's shares closed up 2.7% for the day at $153.01, good for a market value of $797.8 billion.

 
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09.05.2017

Traffic lights on the desk to reset workplace manners

Red light, stay away; green light, feel free to hang around and gab. That’s the gist of FlowLight, a new innovation in workplace productivity from UBC computer scientist Thomas Fritz. Fritz first started work on the "FlowLight" at the University of Zurich. It was inspired by a system used by workers at international engineering firm ABB Inc., wherein they would place road safety cones on their desks when they didn't want to be disturbed.

 
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08.05.2017

Mr. Market

After so many years of loose monetary policy we might face the unintended consequences of huge misallocations of capital.

 
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08.05.2017

Another scandal for BSI: italian branches will be closed?

EFG International said Italy's central bank wants it out of Milan and Como in connection with alleged compliance weaknesses at recently-acquired Banca della Svizzera Italiana, or BSI. The Zurich-based private bank, under Greek Latsis family control, referred it is in close contact with Banca d'Italia over the closing of its BSI acquisition, and  in a statement late on Friday, it said: "EFG International announces that BSI has received a notification by Banca d’Italia requesting the implementation of certain measures, which may result in a closure of the BSI offices in Milan and Como."

 
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08.05.2017

Car sales down (by W. Snyder)

One key indicator of how a consumer-based economy is performing is car sales.

 
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08.05.2017

Macron's victory: good news for Swiss leaders

The French presidential election has delivered a clear win to Emmanuel Macron. With an estimated 65.8% of the votes going to Macron, compared to 34.2% to Marine Le Pen, he is France’s new president. At the same time the election brought the highest rate of protest votes since 1969. 26% of voters abstained and 9% handed in a blank form. Switzerland’s press and politicians largely consider the election of new French President Emmanuel Macron on Sunday as good news. Doris Leuthard, Switzerland’s president, said: “On behalf of the Swiss government I congratulate Mr Macron on his election as president of the French Republic. Switzerland and France are linked by a common language and shared values of liberty and democracy. Based on this I am convinced that we will continue our good neighbourly relationship and that our two countries will pursue and deepen our stable and positive cooperation.”

 
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08.05.2017

French election: Macron won the presidential

French voters have elected centrist Emmanuel Macron as the country's youngest president ever, delivering a resounding victory to the unabashedly pro-European former investment banker and strengthening France's place as a central pillar of the European Union. Such a comfortable Macron win is in line with what pollsters have been saying for weeks, with most polls saying that the 39-year-old centrist would win with a lead of around 20 points. His final lead, of 31 points, dwarfed even this. Marine Le Pen, his far-right opponent in the presidential runoff, quickly called the 39-year-old to concede defeat after voters rejected her "French-first" nationalism by a large margin. Macron swept the board geographically, with Le Pen winning just two of France's 107 departments.

 
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08.05.2017

The European Rally Lifts the Laggards

Flows into European stocks gathered momentum since the end of April, in a resurging trend that accelerated sharply in the first week of May, reflecting a new positive sentiment towards the European markets after that investors had run off in 2016 and now, in just one week, poured 2,5 billions into European equity funds. Many reasons explain this new positive sentiment, from the evaporation of political risk after the French vote, to an improved economic confidence after that the ECB president Mario Draghi expressed optimism about the region’s economic recovery, still keeping the actual monetary stimulus.

 
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