Stock market: less fear of recession

die US inflation rate down to 2.9 percent in July. This is the lowest annual inflation since March 2021. In June the value was 3.0 percent. The economists surveyed previously expected the value to remain the same as it was for July. The US-Notenbank Fed working with one so far High interest rate policy against inflation, but it is soon Relaxation name

The sale is US-Detailed treatment rise again, rising motion. In July, income rose 1 percent compared to the previous month. Experts had only expected an increase of 0.3. However, that is Production decrease in the manufacturing sector.

In Switzerland the number went up Without work in July 2024 compared to the previous month by 3,198 (+3.1 percent) to 107,716. Compared to the same month last year, unemployment rose by 20,115 (+23.0 percent). The Unemployment rate has remained at 2.3% in July 2024. The variations are mostly seasonal.

The Federal Council provided information on 14 August State accounts. According to the first projection, the federal government expects one for this year 2024 Lack of funding of 1.6 billion francs. A deficit of 2.6 billion francs was previously budgeted. The development especially because the amazing one-time event happened Capital contribution to SBB of 1.15 billion francs is postponed until 2025. The Federal Social Insurance Office (BSV) has informed the Home Office Calculation of the AHV miscarriage The AHV is in better shape than expected. AHV costs are expected to be around 2033 four billion francs or about six percent lower than previously estimated. According to the Federal Council, pension should a Increase in VAT be funded.

Company news

The cement manufacturer Holcim expansion in Latin America. Holcim has acquired all shares in two local cement companies, Comaxa and Mixercon in Peru. A spokeswoman confirmed the two purchases are worth $100 million.

Internet banking Swissquote increase in net income to CHF 316.9 million in the first half of 2024, 19.3 percent compared to the previous year. The remaining profit was CHF 144.6 million (+35.7 percent). It exceeded analysts’ expectations.

The big bank UBS it made a profit of $1.14 billion in the second quarter. It also exceeded expectations and made good progress with CS integration. When it comes to cost savings, it is ahead of schedule. In total, UBS has saved about $ 6 billion this year and aims to achieve 7 billion by the end of 2024. In the important asset management sector, new funds were received to $ 27 billion. However, some CS legacy issues have not yet been fully resolved (lawsuits regarding Greensill funds are pending).

Basel dental implant manufacturer Straumann sales increase to CHF 1.27 billion in the first half of the year (+11.3 percent compared to 2023). The profit figures were higher than expected. The company is raising its sights for the second semester. Organic sales growth in double-digit percentages is now expected. The margin target was also increased to 28 percent.

The demand for analyzes after the end of Corona will decrease. Supplier of laboratory equipment Tech sales of CHF 467.2 million in the first half of the year (-13.7 percent compared). Ebitda margin fell 4.2 percentage points to 14.5 percent. The profit was CHF 22.5 million (-58 percent). The numbers were much lower than expected.

die St. Gallen Bank (SGKB) recorded lower operating income (-5.5 compared to the previous year) and lower profit (-7.4 percent) in the first half of the year. But the cantonal bank was satisfied; he was able to increase the size of his business and attract new funds. For this year, the bank still expects earnings to be at the level of the previous year.

Eyes

The “crash aftershocks” did not occur again. Almost all stock markets rose surprisingly quickly again in the reporting week recreation accelerated after the share price fall at the beginning of the month. The most important reasons for further development were deeper ones Inflation data in the US and in general reducing fears of recession. This is also likely in Switzerland gross domestic product grow by 1.2 percent in this year 2024, slightly higher than expected. US inflation weakened further in July, raising expectations Major interest rate cuts the central banks in the fall. The Half-year figures again interpreted positively. The course of other events on the stock markets depends on the level of key interest rate cuts. The US elections take place in November. The Democrats have a slight lead right now.