Swiss Investor Confidence Weakest Since Late 2016
Swiss Investor Confidence Weakest Since Late 2016

Swiss Investor Confidence Weakest Since Late 2016

Swiss Investor Confidence Weakest Since Late 2016

Switzerland’s investor confidence deteriorated further in April, survey data from the investment bank Credit Suisse and the CFA Society Switzerland showed Wednesday.
The Credit Suisse CFA Society Switzerland Indicator that reflects expectations of financial analysts for the economy in the coming six months, fell to 7.2 points from 16.7 in March. This was the lowest since October 2016, RTTNews reported.
The majority of respondents do not expect any major changes to the economic situation in Switzerland over the next six months. The majority of analysts are expecting a continuation of the euro rally. The risk of a trade war was considered generally low.
Further, the survey showed that the majority of analysts surveyed anticipate higher long-term interest rates in Switzerland. Furthermore, around half the survey participants expect a rising inflation rate in Switzerland and the eurozone over the next six months.
Meanwhile, Credit Suisse delivered its best quarterly results on Wednesday since Chief Executive Tidjane Thiam launched his restructuring plan for Switzerland’s second-biggest bank in 2016, driven by its wealth management business.
After 6.6 billion Swiss francs ($6.7 billion) of losses in 2015 and 2016, and a big tax writedown that wiped out gains last year, Credit Suisse posted 694 million francs in first-quarter net income, beating expectations.
The results showed the bank gaining from Thiam’s three-year plan to focus on wealth management over investment banking and settle legal cases.
“With these first-quarter results, we got off to a good start in our third and final year of restructuring, and we are looking ahead to the future with confidence in our new business model and in our execution capabilities,” Thiam said in a statement.
The bank’s shares were up 4.9% at 16.985 francs in early trade as markets welcomed the results. The stock still trades well below the level when Thiam took over, but has been steadily recovering from a low of 9.4 francs in mid-2016.

Short URL : https://goo.gl/oP3Moc
  1. https://goo.gl/5PjKDq
  • https://goo.gl/zDLS9P
  • https://goo.gl/d5cJkq
  • https://goo.gl/u6X7i5
  • https://goo.gl/zAnwNY

You can also read ...

Government data shows the number of jobs created in July fell to the lowest levels in over eight years.
South Korea’s ranking officials revealed a disparity in their...
As technological progress makes people richer in terms of many basic goods and services, it may be inevitable  that more human activity is devoted to zero-sum competition for available income and assets.
Across the global economy, the potential for automation seems...
Annual expansion in the second quarter fell to 4.5%.
Malaysia cut its full-year growth forecast and reported much...
India’s CAD to Widen to 2.5 Percent of GDP
India’s current account deficit will widen to 2.5% of the GDP...
Ghana Backpedalling Out of Banking Crisis
Ghana is backpedalling out of a banking crisis as the...
Canada Inflation Surges
Canada’s inflation rate surged to 3% in July, fueled by rising...
Amazon to Challenge TiVo With Live TV Recorder
Amazon.com Inc. is developing a new device that records live...
Walmart Completes Flipkart Deal
Walmart Inc. will retain existing management of Flipkart Group...

Add new comment

Read our comment policy before posting your viewpoints