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UBS has downgraded A.P. Møller-Maersk to neutral from buy. The company, a leader in maritime transport, operates a fleet of over 707 vessels and provides port and logistical services. Its net sales are primarily generated from the United States (22.4%) and other global markets.
In 2023, European companies raised €11.7 billion, a 9% increase from the previous year, driven by a 51% rise in IPOs and refinancings. The UK, Switzerland, and France led fundraising efforts, while venture capital fell by 19%, particularly impacting the French and British HealthTech sectors. Despite a challenging year, refinancing on secondary markets surged by 51%, with the Netherlands achieving the highest levels.
The SMI closed higher, driven by gains in Nestlé, Lonza, and ABB, while Wall Street experienced a record chase. In Tokyo, the Nikkei index fell 0.6% amid pressure on technology stocks following a sales warning from ASML, with investors awaiting TSMC's quarterly report, expected to show a 42% profit increase. Major chipmakers like Tokyo Electron and Advantest saw significant losses as the market adjusted ahead of these announcements.
UBS has reduced its price target for ASML from 900 to 710 euros while maintaining a "Neutral" rating. Analyst Francois-Xavier Bouvignies cited a weak order situation and a lowered outlook for 2025, indicating ongoing uncertainties for 2026 and 2027, although downside risks appear limited after recent share price declines.
ASML's market value has plummeted by over €60 billion following disappointing earnings, triggering a sell-off in the semiconductor sector. While AI chipmakers like Nvidia thrive, traditional manufacturers such as Intel and Samsung face financial struggles, prompting analysts to predict a continued performance gap until at least 2025. Investors are now closely watching TSMC's upcoming results for further insights into the industry's health.
A UBS study emphasizes the need for women to enhance their retirement savings efforts, as they often earn less than men and face higher living costs. With examples like a 50-year-old woman named "Jane," the study highlights that private savings are crucial to maintain a standard of living in retirement, especially given women's career interruptions and longer life expectancy.
The World Bank's report highlights the significant global issue of income inequality, emphasizing its detrimental effects on sustainable development, poverty reduction, and social cohesion. With 49 countries exhibiting a Gini index above 40, high inequality is particularly prevalent in Latin America, the Caribbean, and sub-Saharan Africa, while Northern and Eastern Europe show the lowest levels. The majority of the global population resides in economies with moderate inequality, underscoring the urgent need for policies that address these disparities.
Private savings are essential for maintaining a standard of living in retirement, according to a UBS study analyzing pension systems in 25 cities. The findings reveal significant disparities; for instance, while Amsterdam requires no savings, Tokyo demands an unrealistic 93% of salary from age 50 due to its pension structure and longer retirement duration.
The U.S. health system ranks last among 10 wealthy nations in health equity, access, and outcomes, despite spending over 16% of its GDP on healthcare. Life expectancy is more than four years below the average, with the highest rates of preventable deaths, driven by issues like substance abuse and gun violence. To improve, the U.S. must enhance primary care, reduce administrative inefficiencies, and address systemic racism in healthcare.
Semiconductor stocks faced a decline following ASML's disappointing sales forecast, raising concerns over global chip demand. Despite a weak start to the tech earnings season, strong AI demand persists, with significant investments from AI supply chain companies indicating a positive long-term outlook. However, traditional tech segments like smartphones and PCs show mixed demand, suggesting a cautious approach for investors focusing on AI chip beneficiaries.
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ubs downgrades a p moller maersk to neutral rating
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08:38 17.10.2024
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Nikkei index declines as technology stocks face pressure ahead of earnings report
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06:10 17.10.2024
UBS lowers ASML price target amid weak order outlook and uncertainties
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asml shares drop highlights semiconductor industry struggles and performance gap
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22:16 16.10.2024
women urged to enhance retirement savings for financial security
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global income inequality persists with high levels in many countries
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20:11 16.10.2024
private savings essential for retirement across global cities study finds
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us health system ranks last in equity access and outcomes among wealthy nations
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13:15 16.10.2024
Tech sector faces volatility as AI demand remains strong amid mixed results
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