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The UK's Financial Conduct Authority has banned former Credit Suisse Vice President Detelina Subeva for her role in the Mozambique loan scandal, following her guilty plea for money laundering. Subeva accepted $200,000 in kickbacks as part of a scheme involving over $2 billion in fraudulent loans, which led to significant financial turmoil in Mozambique. She joins two other former Credit Suisse bankers, Andrew Pearse and Surjan Singh, who were previously convicted and banned for similar offenses.
The oil market faces renewed pressure as OPEC+ considers a significant supply increase for July, shifting focus from price defense to market share. A 411k b/d increase is anticipated, keeping Brent price forecasts steady at US$59/bbl for Q4. Meanwhile, US natural gas prices fell 3.4% following a larger-than-expected storage increase, now 3.9% above the five-year average.
UBS has updated its palladium price forecast, predicting a 16% decline in 2024 despite a continued undersupply for the thirteenth year, with a deficit of 501,000 ounces. While mine supply increased slightly, total demand fell by 2.7%, primarily due to a drop in automotive sector needs. For 2025, UBS anticipates a 300,000-ounce undersupply, though trade tensions could impact this outlook.
UBS has revised its palladium price forecast for 2025, predicting a supply deficit of around 300,000 ounces, despite a smaller anticipated deficit of 17,000 ounces according to Johnson Matthey. The palladium market remains in deficit for the thirteenth consecutive year, with a notable drop in prices attributed to surplus stock releases by mining producers. While overall demand fell by 2.7% in 2024, investment demand surged significantly, indicating shifting market dynamics.
The Swiss stock market continued its upward trend, with the SMI rising 0.5% to 12,420 points, fueled by optimism over potential trade deals and peace talks regarding Ukraine. Sika led the blue-chip gains with a 1.9% increase, while UBS faced pressure amid concerns over stricter capital requirements. VAT Group's shares fell 2.6% as it revised its sales growth outlook for 2025-2029.
The Swiss stock market continued its upward trend, gaining 0.5% to 12,420 points, fueled by optimism over potential trade deals and peace talks regarding Ukraine. Sika, Novartis, and Roche saw gains, while UBS faced pressure amid concerns over stricter capital requirements. VAT Group's shares fell 2.6% as it revised its sales growth outlook for 2025-2029.
The DAX has surged past the 24,000-point mark for the first time, driven by optimism surrounding potential peace talks between Ukraine and Russia and easing trade tensions. The upcoming Ifo business climate index and purchasing managers' figures are anticipated to provide further economic insights.
F5, Inc. is projected to post an EPS of 11.2 this year, with analysts giving it a consensus "Hold" rating and a target price of $282.56. Recent reports show varied price targets, with Morgan Stanley at $280 and Royal Bank of Canada at $290, while insider selling has occurred amid significant institutional investment. The company reported $3.42 EPS for the last quarter, exceeding estimates, but revenue fell short of expectations at $590.16 million.
Emerson Electric Co. reported Q2 earnings of $1.48 per share, exceeding estimates, with revenue of $4.43 billion, a 1.3% increase year-over-year. The company declared a quarterly dividend of $0.5275, yielding 1.75%, and has a market cap of $67.83 billion. Analysts maintain a "Moderate Buy" rating with a consensus target price of $132.24.
European equity markets are experiencing a third consecutive session of gains, driven by strong corporate earnings and a significant UK-EU agreement aimed at improving post-Brexit relations. While optimism grows, President Trump's recent call with Putin did not yield a ceasefire deal, although further talks are planned. Key economic data, including UK inflation and purchasing managers' indices, is set for release this week, influencing market expectations.
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FCA Bans Ex-Credit Suisse VP Over Mozambique Loan Scandal Involvement
12:50 23.05.2025
OPEC Considers Supply Increase Amid Pressure on Oil Market and Prices
02:00 23.05.2025
UBS Forecasts Palladium Market Undersupply Amid Price Decline and Demand Shifts
10:17 22.05.2025
UBS Forecasts Palladium Supply Deficit Amid Price Fluctuations for 2025
10:17 22.05.2025
Swiss stock market rises as UBS faces pressure from potential capital requirements
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17:34 20.05.2025
Swiss stock market rises as UBS faces pressure from potential capital requirements
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DAX surpasses 24000 points amid hopes for peace and trade easing
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f5 inc analysts raise price targets amid mixed earnings report
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11:38 20.05.2025
raiffeisen bank international acquires shares in emerson electric co
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