Nov 8, 2018
LGT was the first bank to receive the “Best Private Bank for Alternatives” award at the renowned Financial Times Group’s PWM (Professional Wealth Management)/The Banker Global Private Banking Awards. It was also awarded “Best Private Bank for Growth Strategy” for the third consecutive year.
Nov 15, 2018
British Prime Minister Theresa May was given the go-ahead by the Cabinet for the EU withdrawal treaty, which has been promoted by the EU. However, the head of government will have great difficulty finding a majority in parliament for the deal, which will have to ratify the treaty at a later date. EU head negotiator Michel Barnier said that decisive progress had been made. However, the chances for an orderly Brexit have clearly increased and the EU is expected to convene a special summit on 25 November.
Nov 14, 2018
Wall Street made up some ground after the recent sell-off in technology stocks. Some optimism was expressed between the US and China regarding the trade conflict. In the Italian budget crisis, Deputy Prime Minister Matteo Salvini declared shortly before the expiry of the EU deadline for submitting budget amendments that he would not deviate from the plan for a new debt of 2.4% in 2019. Stock market sentiment is likely to be depressed overall and the majority of investors will remain on the defensive.
Nov 13, 2018
Renewed pressure on technology stocks, a rising US dollar and fears of rapidly rising interest rates led to a negative start to the week on Wall Street. Apple shares slumped -5% after supplier Lumentum raised its earnings and revenue guidance due to weak demand, causing speculation about weak iPhone sales, and burdening various chip manufacturers such as ams (-19.6%), or Infineon (-8%).
Nov 12, 2018
The prospect of a more restrictive monetary policy on the part of central banks, led by the Fed, and some disappointing corporate results (e.g. some weak technology earnings, ThyssenKrupp lowered its forecast or Richemont missed earnings expectations) as well as economic concerns, in particular with regard to China, leave stock markets without a clear short-term trend.