Her Eleftherias Kourtalis The options of the E.E. to support the energy market, UBS examines, concluding which solution would be the best for the region. On Monday, European Commission President Ursula von der Leyen said “the surge in electricity prices now exposes the limitations of the current electricity market design” and promised “urgent intervention and […]
Tag: UBS
UBS: The energy crisis sends the Eurozone into a certain recession in the second half
Her Eleftherias Kourtalis Higher energy prices will push the Eurozone into recession in the second half of 2022, UBS estimates, while inflation will peak in September with the ECB continuing rate hikes until April 2023. With energy prices expected remain high for some time yet, government support packages will continue in 2023. Given the prospect […]
UBS: Raises the bar for growth in Greece this year to 5.7% due to tourism
By Eleftherias Kourtalis To 5.7% from 4% before, UBS upgrades its estimate for growth in Greece in 2022, stressing that the country’s economic performance has proven to be particularly strong this year, while tourism is expected to be the big “driver” of GDP, with revenues reaching 20 billion euros. In more detail, referring to the […]
UBS: Don’t get too excited about the stock rebound – The triple threat for markets
Her Eleftherias Kourtalis The recent rally in stocks, especially in July, caught many investors by surprise as markets rebounded despite aggressive central bank interest rate hikes, soaring inflation, energy turmoil in Europe, a new housing crisis in China and the war in Ukraine. which has shown no sign of ending. The improved risk appetite was […]
UBS: Earnings rose, below estimates
UBS Group’s second-quarter earnings moved higher, although they came in below analysts’ estimates, due to a sharp drop in global equity and bond markets. The Swiss bank reported quarterly profit of $2.11 billion, up from $2.01 billion a year ago. Revenue came in at $8.92 billion, up from $8.90 billion. Analysts had expected UBS to […]
Goldman Sachs and UBS expect worst year for European shares since 2008
Strategists are cutting their targets for European shares, with Goldman Sachs and UBS Group now expecting the worst year for the region’s shares since 2008. The Stoxx Europe 600 index will end 2022 at 44.4 points, down 4.1% for the year and its worst annual performance since 2018, according to analysts polled by Bloomberg. The […]
UBS: Dollar rally won’t last – Swiss franc safer haven
A key reason for the devaluation of the euro/dollar exchange rate is – apart from the fears surrounding the eurozone economy and the evolution of the energy crisis – and the strength of the American currency. According to UBS, however, although in the current risk-off environment, the dollar’s rally is likely to continue, the currency’s […]
UBS: Eurozone heading for stagflation – It will narrowly avoid a technical downturn
The eurozone is heading for a period of stagnant inflation, as efforts to curb rising inflation will bring growth rates just above zero, UBS said on Thursday, while cutting its 2022 economic forecasts for the region. According to Reuters, UBS revised its GDP estimate down to 2.7% from 2.9% for 2022 and stressed that its […]
UBS: Positive for Greece despite the challenges in the economy
Of Eleftheria Kourtali UBS reduced its growth forecast for Greece to 4.0% from 5.5% previously this year, as it acknowledges, as it points out, the opposite winds that the economy is facing due to the effects of the war in Ukraine. , with the bank, however, maintaining its constructive stance on the country’s prospects due […]
UBS: At $ 22 billion its ‘Russian assets’ subject to sanctions
UBS owns about $ 22 billion in assets invested in Russian clients, potentially affected by measures imposed by the EU and Switzerland following Moscow’s invasion of Ukraine. These include the assets of those who did not reside in the EU or Switzerland until the end of March. Swiss banks hold up to $ 213 billion […]