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☆ What matters is that the Fed cuts rates, economist says
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat matters is that the Fed cuts rates, economist saysGero Jung, chief economist at Mirabaud Asset Management, weighs in on the Federal Reserve's upcoming interest rate decision, saying a 25 basis point rate cut appears most likely.

Persons: Gero Jung Organizations: Mirabaud Asset Management, Federal

☆ Asset manager says small-cap benchmark Russell 2000 is a 'screaming buy'
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAsset manager says small-cap benchmark Russell 2000 is a 'screaming buy'John Plassard, senior investment specialist at Mirabaud Group, says markets could go higher even if the Fed doesn’t cut interest rates this year and describes the small-cap benchmark Russell 2000 as a “screaming buy.”

Persons: John Plassard Organizations: Mirabaud, Russell

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. REUTERS/Victoria Klesty/Illustration/File Photo Acquire Licensing RightsLONDON/NEW YORK, Oct 23 (Reuters) - The growth in demand for appetite suppressing anti-obesity drugs like Novo Nordisk's (NOVOb.CO) Wegovy presents opportunities for food manufacturers and the market's initially downbeat reaction may be overdone, investors say. Still, the stock market impact left some food manufacturers "trembling," said John Plassard, senior investment specialist at Nestle investor Mirabaud Group. The uptake in appetite suppressing drugs seems to be a U.S.-led dynamic, said My Nguyen, research analyst at Legal & General Investment Management America. "Elsewhere, trends such as wealthier, more mobile middle classes in emerging countries can support shifts towards snacking and convenience foods."

Persons: Victoria Klesty, Richard Saldanha, Wegovy, Kiran Aziz, Mark Schneider, John Plassard, Brian Frank, Frank, Nguyen, Richa Naidu, Matt Scuffham, Kirsten Donovan Organizations: REUTERS, Walmart, Nestle, Aviva, Novo Nordisk, EY, Industry, Health Sciences, Wellness, Mirabaud, Tyson Foods, Arcos Dorados, Legal, General Investment Management America, Germany's, Investments, Unilever, Coca Cola, Thomson Locations: Oslo, Norway, Victoria, United States, Denmark, Germany, Arda, Ural, U.S

☆ The market is being complacent on one more U.S. rate hike, portfolio manager says
▼ + stars: | 2023-10-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is being complacent on one more U.S. rate hike, portfolio manager saysAl Cattermole, portfolio manager at Mirabaud Asset Management, discusses the likelihood of another interest rate hike from the U.S. Federal Reserve.

Persons: Al Cattermole Organizations: Mirabaud Asset Management, U.S . Federal Reserve

☆ Analysis: EUphoria! Poland election surprise spurs investor hope
▼ + stars: | 2023-10-16 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

Donald Tusk, leader of the largest opposition grouping Civic Coalition (KO), delivers a speech after the exit poll results are announced in Warsaw, Poland, October 15, 2023. As Europe’s sixth-largest economy, a revitalised pro-EU attitude in Poland would be particularly welcome. The 66-year old Tusk and his pro-EU coalition allies may still have to wait weeks or even months though before getting a turn at forming a government. Duda has referred the issue at the heart of that row to a constitutional tribunal in Poland. The central bank though has slashed interest rates at its last two meetings as the election campaign burst into life.

Persons: Donald Tusk, Kacper, Poland's, Daniel Moreno, Mirabaud, PiS, Moreno, Hungary's Viktor Orban, Robert Fico, Tusk, Andrzej Duda, Duda, Viktor Szabo, Fitch, Szabo, Adam Glapinski, PiS ., Simon Quijano, Evans, Libby George, Karin Strohecker, Josie Kao Organizations: Civic Coalition, REUTERS, European Union, Law and Justice, European, EU, Brussels, PiS, Gemcorp, Ukraine, Reuters, Thomson Locations: Warsaw, Poland, Brussels, Europe, EU, Slovakia, Britain, London

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON/DUBLIN, Sept 18 (Reuters) - Societe Generale's (SOGN.PA) much-hyped new strategy plans were given a thumbs down by investors on Monday, underscoring uncertainty over European banks as they face a brittle economy. "There are more questions about the future and the economy," Legras said, adding that transformative mergers between banks, which investors have waited for in vain, remained unlikely. Reuters GraphicsThat dampens the prospects for Europe's banks, whose valuations are low and static, said one adviser who works with top executives from the region's lenders, adding that investors struggle to see much promise for the sector. European banks' modest earning power has dampened investor appetite for their shares, which often trade at just a fraction of book value - the sum of their assets. While in the United States, JP Morgan and Morgan Stanley are valued at around 1.5 times book value, Germany's Deutsche Bank, Dutch lender ABN Amro, France's Credit Agricole and Britain's Standard Chartered are valued at just half book value or less.

Persons: Gonzalo Fuentes, Jerome Legras, Legras, Slawomir Krupa, Krupa, Goldman Sachs, JP Morgan, Frederic Rozier, Morgan Stanley, Karel Lannoo, Elisa Martinuzzi, John O'Donnell, Alexander Smith Organizations: Societe Generale, La Defense, REUTERS, Reuters, European Central Bank, European Union, Commission, Deutsche Bank, ABN Amro, France's Credit, Thomson Locations: La, Paris, France, DUBLIN, France's, Europe, United States, Germany, Mirabaud, U.S, Brussels

☆ Instant view: Russia's rouble weakens past 100 per US dollar
▼ + stars: | 2023-08-14 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

The Russian rouble fell past the psychologically key 100 per U.S. dollar threshold for the first time since March last year on Monday. FILE PHOTO: Russian rouble and U.S. dollar banknotes are seen in this illustration photo taken March 10, 2023. MICHAEL WANG, DEPUTY PORTFOLIO MANAGER, MIRABAUD ASSET MANAGEMENT“The rouble has been underperforming all this year, partly on lower oil revenues but also because of capital flight. “The rouble remains under the selling pressure in the current global environment dominated by concerns about China, which is Russia’s most important trading partner.”“The sharp fall in Russia’s current account surplus leaves the rouble more vulnerable to global sentiment. The CBR (Russian central bank) may have to raise interest rates further to cool down domestic demand and slow down imports to stabilize the rouble.”

Persons: Dado Ruvic, Vladimir Putin’s, MICHAEL WANG, TIMOTHY ASH, Nabiullina, ”, PIOTR MATYS Organizations: REUTERS, CBR Locations: Russian, Russia, POLAND, China, Russia’s

☆ Swiss central bank signals more tightening to come after latest rate hike
▼ + stars: | 2023-06-22 | by ( John Revill | ) www.reuters.com time to read: +4 min

Although Swiss inflation ebbed to 2.2% in May from 2.6% in April, there was still more work to be done to tackle rising prices, Jordan told reporters. Although modest by international standards, Swiss inflation has remained above the SNB's 0-2% target range since February 2022. Reuters GraphicsThe latest SNB hike followed an increase by the European Central Bank, which last week raised euro zone borrowing costs to their highest level in 22 years. Reuters Graphics Reuters GraphicsEven with the Thursday's rate increase, the SNB forecast Swiss inflation would remain above its 0-2% target by 2026. "Before today's meeting, I thought that this rate hike was going to be the last of the cycle," she said.

Persons: Thomas Jordan, Jordan, Gero Jung, Charlotte de, John Revill, Noele, Maria Sheahan, Tomasz Janowski Organizations: Swiss National Bank, Swiss, Reuters, European Central Bank, U.S . Federal Reserve, Reuters Graphics Reuters, Charlotte de Montpellier, ING, Thomson Locations: ZURICH, Switzerland

☆ UBS got a great deal for Credit Suisse in the medium-term but uncertainties lie ahead, asset manager says
▼ + stars: | 2023-04-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS got a great deal for Credit Suisse in the medium-term but uncertainties lie ahead, asset manager saysThe numbers show UBS has a huge "margin of safety" in its Credit Suisse acquisition, but its investment case in the future will rely on several unknowns, says Daniele Scilingo, head of Swiss equities at Mirabaud Asset Management.

"If this solution hadn't worked, Credit Suisse (CSGN.S) would have failed, with extreme consequences for Switzerland but also the global economy," he told a press conference. The SNB Chairman said it was vital for UBS's takeover of the 167-year-old Credit Suisse to go through as smoothly as possible in order to maintain financial stability. [1/2] The Swiss National Bank (SNB) building is seen near the Limmat river in Zurich, Switzerland March 23, 2023. The Bank of England is expected to increase its interest rate by a quarter percentage point later on Thursday. "Without today's policy rate increase, the inflation forecast would be even higher over the medium term," the central bank said.

☆ U.S.-listed China shares feel the heat as report fans Sino-U.S. tensions
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

Feb 24 (Reuters) - Shares of Chinese companies listed in the United States fell in early trading on Friday as reports that Washington was looking to expand the number of troops helping train Taiwanese forces added to rising Sino-U.S. tensions. The iShares China Large-Cap ETF slipped 2.9%, while KraneShares CSI China Internet ETF shed 2.8%. China's blue-chip CSI300 Index (.CSI300) closed 1% lower during Asia hours, while shares of aerospace defense companies jumped. Relations between the world's two largest economies worsened this month over the shooting down of the Chinese spy balloon, weighing on China ADRs after a sharp rally starting late last year. A multitude of factors weighed on China ADRs last year including a risk of delisting from U.S. exchanges over an audit dispute, trade friction and geopolitical worries.

☆ UK recession may be 'less steep' than expected, says economist
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: 1 min

Gero Jung, chief economist at Mirabaud, says the U.K. recession may be "less steep" than some expect, following the Bank of England's decision Thursday to raise interest rates further.

☆ Tech rout widens as Meta sinks after results
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

Meta's results come a day after Google-parent Alphabet and Microsoft posted dismal numbers, sparking a wide-spread selloff in tech stocks. A year after changing its name to Meta to focus on shared virtual reality, the company posted an accelerating sequential decline in quarterly revenue. Meta also bumped up its full-year 2023 total expenses outlook to $96 billion to $101 billion, significantly higher than a revised estimate for 2022 total expenses of $85 billion to $87 billion. Chief Executive Mark Zuckerberg has said he expects the metaverse investments to take about a decade to bear fruit. At least eight brokerages slashed their price targets on Meta, with Baird's $80 cut to $150 the steepest of the lot.

☆ Amazon's cloud business just reported its slowest growth ever, and executives hinted it could get even worse
▼ + stars: | 2022-10-27 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Amazon's cloud business grew 27% in Q3, the slowest pace since disclosing that number in 2014. CFO Brian Olsavsky said the growth rate was even lower in the back-end of the third quarter. On Thursday, Amazon's cloud business reported a 27% revenue growth rate for the third quarter, the slowest expansion since the company started disclosing the number in 2014. During Thursday's analyst call, Olsavsky said AWS's growth rate decelerated as the third quarter progressed, falling down to the "mid-20% growth rate" in the latter part of the period. To help those customers, AWS is offering lower-priced options and a more cost-efficient chip processor service, he said.

☆ Facebook and Mark Zuckerberg just raised a giant middle finger to Wall Street. The company says its metaverse business will lose even more money next year.
▼ + stars: | 2022-10-26 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Facebook warned that its Reality Labs metaverse business will lose even more money in 2023. It lost $10 billion over the whole of 2021, and the company said spending costs for Reality Labs are only going to keep growing. "We do anticipate that Reality Labs losses in 2023 will grow significantly year-over-year," the company said. He specifically asked Facebook to limit metaverse spending to $5 billion a year. A main part of the immersive digital world Mark Zuckerberg is attempting to build out is avatars.

☆ YouTube, a major Google growth engine, grinds to a halt as advertisers pull back. It's not going to get better in the key holiday quarter.
▼ + stars: | 2022-10-26 | by ( Tom Dotan | ) www.businessinsider.com time to read: +3 min

YouTube ad revenue fell 2% from last year, the first time the platform showed a decline in revenue. For years, YouTube has been Google's ad revenue growth engine. The video unit posted its first ever year-over-year decline in ad revenue, as advertisers pulled back due to the uncertain economy. The results raised questions about YouTube's long-term revenue growth potential. Google executives tried to minimize the significance of YouTube's decline by saying the company suffered from comparisons to its breakout growth last year.

☆ Netflix trying to capture lower end of market with ad-based subscription offering, says analyst
▼ + stars: | 2022-10-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix trying to capture lower end of market with ad-based subscription offering, says analystNeil Campling, head of TMT research at Mirabaud GTS, discusses Netflix's third-quarter earnings, subscriber numbers, and the company's strategy for increasing market share.

☆ Facebook's 'desperate' metaverse push to build features like avatar legs has Wall Street questioning the company's future
▼ + stars: | 2022-10-13 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Mark Zuckerberg made another pitch for his metaverse this week, failing to placate investors. One analyst called it a "desperate" and likely doomed attempt by the company to reinvent itself. But Neil Campling, an analyst and head of research at Mirabaud, summed it up in one word: "desperate." And the Quest Pro, while much more expensive than Quest 2, is "a very fine piece of engineering," he said. Some on Wall Street are also willing to give Facebook more of a chance to prove itself, despite the costs.

☆ Meta's 'desperate' metaverse push to build features like avatar legs has Wall Street questioning the company's future
▼ + stars: | 2022-10-13 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Mark Zuckerberg made another pitch for his metaverse this week, failing to placate investors. One analyst called it a "desperate" and likely doomed attempt by the company to reinvent itself. But Neil Campling, an analyst who is the head of research at Mirabaud, summed it up in one word: "desperate." And he said the Quest Pro, while much more expensive than Quest 2, was "a very fine piece of engineering." Some on Wall Street are also willing to give Meta more of a chance to prove itself, despite the costs.

☆ Salesforce is facing a huge sales challenge to Marc Benioff's ambitious $50 billion revenue target, and Wall Street thinks a big acquisition could be just what the doctor ordered
▼ + stars: | 2022-09-23 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +3 min

Mirabaud analysts suggest buying a company like Box or Coupa could help Salesforce goose growth. To get there, analysts from Mirabaud suggested that an acquisition might be a smart way to goose growth towards Benioff's $50 billion revenue target. "We've bought 60 companies — we'll always buy companies," Benioff said at the event, as Bloomberg reported. "M&A has been key to headline growth for Salesforce and needed to mask slower organic growth trends," the analysts wrote. The biggest concern is that Salesforce's partners reported some trouble selling multiple products to the same customers, analysts say.

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