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The Swiss stock market is currently appealing due to conservative stocks in the pharmaceutical and food sectors, as investors seek defensive positions amid rising market volatility. The impact of renewed trade disputes remains uncertain, but large companies are better equipped to navigate potential tariffs compared to SMEs. The Swiss National Bank will closely monitor the franc's status as a safe haven, adjusting its policies as necessary.
UBS has maintained a "Neutral" rating for Nestlé, setting a target price of 80 francs. Analyst Guillaume Delmas noted that, aside from Beiersdorf and Reckitt, most European food and consumer goods companies rely on local suppliers, with over 90% of Nestlé's US products produced domestically.
Nestlé S.A., the world's leading food group, generates sales across various product families, including powdered and liquid beverages (26.7%), pet food (20.3%), and pharmaceutical, nutrition, and wellness products (16.4%). The company also offers prepared dishes and seasonings (12.5%), dairy products and ice creams (11.8%), chocolates and confectionery (8.7%), and packaged waters (3.6%). Geographically, sales are concentrated in the United States and Canada (35%), followed by Asia and Oceania (21.4%) and Latin America (13.7%).
UBS has maintained a 'Neutral' rating for Nestlé, setting a target price of 80 francs. Analyst Guillaume Delmas noted that over 90% of Nestlé's products sold in the US are produced locally, which positions the company favorably amid new US tariffs affecting the food and consumer goods sector.
Musk’s X has expanded its ad-boycott lawsuit to include major brands such as Nestlé, Colgate, and Shell. This move highlights ongoing tensions between the platform and advertisers, as it seeks to address concerns over content moderation and brand safety.
UBS CEO Sergio Ermotti defended the bank's current capital requirements, asserting they are sufficient and should be effectively communicated. He emphasized the importance of UBS's contributions to Switzerland's financial stability and economy, while advocating for a public liquidity backstop for systemically important banks. Meanwhile, the US economy showed signs of slowing, with a 2.3% GDP growth in the fourth quarter of 2024.
Elon Musk declined a dinner invitation from Nicolai Tangen, CEO of Norway’s $1.7 trillion wealth fund, after the fund voted against his $56 billion pay package, which has since appreciated to around $100 billion. Musk expressed disappointment, stating, “friends are as friends do,” and questioned Tangen about potential media leaks of their messages. Tangen clarified that under Norway’s transparency laws, all communications are public, and he wished Musk luck as a shareholder.
Elon Musk declined a dinner invitation from Nicolai Tangen, head of Norway's $1.7 trillion oil fund, after the fund voted against his $100 billion pay package. Musk criticized Tangen for not being a good friend and expressed that attending would be "very difficult and expensive." Tangen clarified that the messages were public information and wished Musk well as a major Tesla shareholder.
UBS plans a capital increase of approximately CHF 350 million for the UBS (CH) Property Fund - Swiss Mixed "Sima" at the end of April or early May, aimed at funding property acquisitions, renovations, and debt repayment. The exact terms will be revealed in early April, with the fund focusing on residential and commercial properties in major Swiss cities. In other news, Logitech has raised its outlook following strong holiday sales, while Nestlé is set to invest $1 billion in expanding production in Mexico.
UBS benefits from a de facto state guarantee, leading to an estimated annual subsidy of CHF 2.6 billion due to reduced financing costs, according to a University of Bern analysis. Meanwhile, President Donald Trump is restructuring the Department of Justice, dismissing prosecutors involved in investigations against him and freezing funding programs, raising concerns over the separation of powers. In other news, Saïda Keller-Messahli faces defamation charges for her claims about Swiss mosques, and the Munich prosecutor's office investigates real estate mogul René Benko for fraud.
Nestlé S.A.
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