$UBS

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 21 mar - Nuovo rialzo con vista sulla Fed per le Borse e per le banche quotate. Dopo il ritorno degli acquisti nella sessione di inizio settimana, una volta assorbito l'intervento di Ubs per il salvataggio di Credit Suisse, sono stati ancora i bancari, assieme agli assicurativi e ai servizi finanziari, a sostenere il netto rialzo degli indici azionari alla vigilia della decisione della Federal Reserve su un ulteriore ritocco al costo del denaro. Le affermazioni della presidente Bce, Lagarde, sulla limitata esposizione degli istituti ai bond At1 azzerati nel bail-in di Credit Suisse, le rassicurazioni sul rispetto della gerarchia dei creditori in casi di ristrutturazioni bancarie nella Ue e le misure allo studio in Usa per mettere in sicurezza le banche regionali in difficolta' sono stati i fattori alla base del recupero delle Borse. Milano e Madrid, i due listini con maggior presenza di titoli finanziari, sono saliti rispettivamente del 2,53% e del 2,45% e sono stati i migliori di giornata. Intorno all'1,5% i rialzi di Francoforte, Parigi, Zurigo e Londra."_

Shareholders and Parliament will block the UBS Credit Suisse deal

Ma siamo tutti convinti che l'accordo UBS CS vada in porto? Io non mi meraviglierei se......

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 21 mar - L'argine costruito dalle autorita' svizzere ed europee per contenere le ricadute del salvataggio del Credit Suisse e limitare il contagio al settore finanziario sembra reggere, almeno per il momento: dopo i rialzi strappati ieri al termine di una giornata sull'ottovolante, i listini continentali consolidano i progressi in avvio di seduta. A Piazza Affari il Ftse Mib guadagna l'1,3% al traino dei titoli degli istituti di credito. Nel resto d'Europa, Francoforte sale dello 0,88%, Parigi dell'1,06%, Madrid dell'1,03% e Amsterdam dello 0,85%. Gli investitori cominciano a rivolgere l'attenzione anche all'avvio della due giorni di vertice della Fed, che domani annuncera' la decisione sui tassi di interesse. I future sui Fed Fund al momento considerano probabile all'81,2% un rialzo di 25 punti base, mentre il mantenimento dello status quo e' quotato al 18,8%. Tra i principali titoli milanesi, banche in evidenza dopo che l'intervento della Bce ieri ha limitato le tensioni sul mercato dei bond At1, innescate dalla decisione delle autorita' elvetiche di azzerare questa categoria di titoli nell'operazione Credit Suisse-Ubs. "_

By Peter Nurse Investing.com - European stock markets are expected to open higher Tuesday as signs of confidence returning to the banking sector emerge ahead of the start of the latest Federal Reserve policy-setting meeting. At 03:00 ET (07:00 GMT), the DAX futures contract in Germany traded 1.1% higher, CAC 40 futures in France climbed 0.6% and the FTSE 100 futures contract in the U.K. rose 0.5%. Investors have taken some heart from the rescue of troubled lender Credit Suisse (SIX:CSGN) by its Swiss rival UBS (SIX:UBSG), with UBS’s shares closing trade on Monday higher after sharp early losses were pared by the end of the day. There remain concerns about the risk of shockwaves on smaller U.S. banks, as well as potential ructions in the bond markets after the losses imposed on Credit Suisse’s junior bondholders. Attention is now on this week's meeting of the Federal Reserve, with its two-day get-together starting later this session. The turmoil in the banking sector has created a degree of uncertainty over whether the U.S. central bank will continue to lift interest rates to fight elevated inflation. European Central Bank President Christine Lagarde implied on Monday that the current financial market disorder could mean that the central bank can stop hiking interest rates earlier than previously expected. "Clearly financial stability tensions might have an impact on demand and might actually do part of the work that would otherwise be done by monetary policy and interest rate hikes," Lagarde told European lawmakers. The ECB raised its benchmark interest rates by 50 basis points to 3% last week, and Lagarde reaffirmed that the inflation outlook alone would warrant more rate hikes. The main economic release due Tuesday will be Germany’s ZEW survey of economic sentiment for March, which is expected to show a drop to 17.1 from 28.1. In corporate news, RWE (ETR:RWEG) will be in the spotlight after Germany's largest utility announced plans to increase its dividend even as it expects operating profit to fall in 2023, citing lower margins at its gas-fired power plans. Oil prices fell Tuesday as market confidence remained frail after a week of turmoil in the banking sector and ahead of a Federal Reserve interest rate decision this week. The American Petroleum Institute is scheduled to release its estimate of U.S. crude inventories later in the session. They rose by just over 1 million barrels last week, resuming their climb after a one-week decline, The API numbers serve as a precursor to official inventory data on the same due from the U.S. Energy Information Administration on Wednesday. By 03:00 ET, U.S. crude futures traded 0.6% lower at $67.44 a barrel, while the Brent contract dropped 0.6% to $73.36. Additionally, gold futures fell 0.1% to $1,980.00/oz, while EUR/USD traded 0.1% lower at 1.0708.

$NEM Apr 55 C $CAT Mar24 240 C $PAAS Apr 21 C $GOLD Jun 21 C $OXY Mar24 60 C $DAL Apr 35 C $NYCB Jan 12 C $UBS Apr 20 C $BMY May 72.5 C $LVS Apr 63 C

$NEM Apr 55 C $CAT Mar24 240 C $PAAS Apr 21 C $GOLD Jun 21 C $OXY Mar24 60 C $DAL Apr 35 C $NYCB Jan 12 C $UBS Apr 20 C $BMY May 72.5 C $LVS Apr 63 C

(Reuters) - U.S. banking stocks rose on Monday and Europe's lenders recovered from a sharp early sell-off after UBS Group's state-backed takeover of Credit Suisse appeared to close off one source of worry for the global banking sector. UBS agreed to buy rival bank Credit Suisse on Sunday for 3 billion Swiss francs ($3.23 billion) and assume up to $5.4 billion in losses, in a shotgun merger engineered by Swiss authorities. DEVELOPMENTS * In a global response not seen since the height of the pandemic, the Fed said it had joined central banks in Canada, England, Japan, the EU and Switzerland in a co-ordinated action to enhance market liquidity. * Switzerland awoke to a new era with a considerable dent in the country's long-held pride in its banking expertise. * The Swiss Bank Employees Association said it was "deeply shocked" by the takeover and called on UBS to keep job cuts to an "absolute minimum". Credit Suisse staff also fretted over the future amid "business as usual". * Under the deal, 16 billion Swiss francs ($17 billion) of Credit Suisse's Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator. What is AT1 debt? * Euro zone and UK banking supervisors England tried to stop a rout in convertible bank bonds, saying that owners of this type of debt would only suffer losses after shareholders have been wiped out. * Switzerland's two biggest political parties sharply criticised the takeover, saying multi-billion state support for the deal created enormous risks for the country. MARKET REACTION * Europe's bank shares fought back from an early slump on Monday and a cross-asset scramble for safety looked to have eased. * S&P, Dow gain as investors weigh bank risks, Fed rate-hike pause. Dollar slides. * Europe's bank bonds battered after Credit Suisse debt wipeout. ANALYSIS * Credit Suisse rescue presents 'buyer beware' moment for bank bondholders * UBS swallows doomed Credit Suisse, casting shadow over Switzerland * Big money captivated by banking drama as investors brace for more turmoil RELATED NEWS * A subsidiary of New York Community Bancorp (NYSE:NYCB) has entered into an agreement with U.S. regulators to buy deposits and loans from New York-based Signature Bank (NASDAQ:SBNY), which was closed a week ago. * Four prominent U.S. lawmakers on banking matters said on Sunday they would consider whether a higher federal insurance limit on bank deposits was needed to stem a financial crisis marked by a drain of large, uninsured deposits away from smaller and regional banks. * Did SVB break the Fed? Officials mull risks of more rate increases.

Credit Suisse, UBS deal: What you need to know

Upgrades 3/20: $AAL $ASPN $AZUL $BN $CAG $CLF $COIN $DOW $EGP $ENPH $GOL $KMB $KR $LYB $LYV $META $NRG $NYCB $PBLA $PEP $PTLO $PWSC $SKIN $SON $UNM $USB $VFC $VRSK $WBD $WRK $X .. Downgrades 3/20: $AKU $CODX $CYXT $DSEY $LFCR $NMTR $PEAR $UBS +Initiations 3/20: $DELL $FERG $GENI $ICCM $PLD $ROP $THS ..

$CS (-58.7% pre) $UBS agrees to buy Credit Suisse for more than $2 billion, Financial Times reports http://ooc.bz/l/123758 $UBS (-2.5% pre) UBS shares slide 5%, $CS Credit Suisse craters 60% after takeover deal - CNBC http://ooc.bz/l/123760 $CS (-58.7% pre) Credit Suisse says $17 billion debt worthless, angering bondholders - Reuters http://ooc.bz/l/123762 $GS (-0.2% pre) Goldman Sachs prepares claims trading for wiped-out $CS Credit Suisse debt - Bloomberg News http://ooc.bz/l/123764 French insurer AXA has about $640 mln exposure to Credit Suisse - Reuters http://ooc.bz/l/123766 Bank shares slide as $CS Credit Suisse rescue fails to quell contagion fears - Reuters http://ooc.bz/l/123768 $CS (-58.7% pre) Credit Suisse’s AT1 Bond Wipeout Seen as an Exception in Europe - BBG http://ooc.bz/l/123770 Banks’ Riskiest Bonds Sink as $CS Credit Suisse Wipeout Jolts Market - BBG http://ooc.bz/l/123772 $CS $UBS Exclusive: Credit Suisse says some clients may want to move wealth assets after UBS deal - Reuters http://ooc.bz/l/123774 $CS (-58.7% pre) How Scandal and Mistrust Ended Credit Suisse’s 166-Year Run - BBG http://ooc.bz/l/123776 $UBS (-2.5% pre) ‘Shotgun wedding’: What the UBS rescue of $CS Credit Suisse means for global markets - CNBC http://ooc.bz/l/123778 Saudi National Bank loses over $1 billion on $CS Credit Suisse investment - CNBC http://ooc.bz/l/123779 $FRC (-20.5% pre) First Republic shares fall as private placement report stirs fresh liquidity fears - Reuters http://ooc.bz/l/123780 $FRC (-20.5% pre) First Republic shares slide Monday after a credit rating downgrade - CNBC http://ooc.bz/l/123783 $FRC (-20.5% pre) First Republic Bank (FRC) selloff continues as S&P cuts rating again, says $30B infusion may not be enough - SI http://ooc.bz/l/123785 $FRC (-20.5% pre) First Republic Bank Looms Large for U.S. Regulators After Credit Suisse Sale - WSJ http://ooc.bz/l/123787

U.S. stock futures rise as traders assess health of global banking system after UBS-Credit Suisse deal: Live updates - CNBC http://ooc.bz/l/123711 Fed and other central banks try to head off crisis by keeping dollars flowing - CNN http://ooc.bz/l/123714 Fed poised to approve quarter-point rate hike this week, despite market turmoil - CNBC http://ooc.bz/l/123716 U.S. sees deposits stabilizing as some regional banks reel - Reuters http://ooc.bz/l/123718 Global Central Banks’ Daily Swap Lines Signal No Dash for Dollar - BBG http://ooc.bz/l/123720 Fed halt being priced as bank blaze smoulders - Reuters http://ooc.bz/l/123722 Morgan Stanley Strategist Says Bank Stress Signals Bear Market End - BBG http://ooc.bz/l/123725 European supervisors say shares should be wiped out before bonds - Reuters http://ooc.bz/l/123730 Goldman Sachs lowers euro zone growth forecast; sees no growth for UK - Reuters http://ooc.bz/l/123732 Switzerland wakes to new era after historic bank merger; employees 'shocked' - Reuters http://ooc.bz/l/123734 German producer prices rise more than expected in February - Reuters http://ooc.bz/l/123736 China's Xi arrives in Russia to meet Putin over Ukraine war - Reuters http://ooc.bz/l/123737 Macron's government faces 'moment of truth' over pension system overhaul - Reuters http://ooc.bz/l/123739 Euro zone trade deficit flat in Jan despite increased energy import spend - Reuters http://ooc.bz/l/123741 Putin to offer 'clarifications' on Russia's position on Ukraine during Xi visit - Reuters http://ooc.bz/l/123743 Xi: China's proposal on Ukraine reflects unity of global views - Reuters http://ooc.bz/l/123745 Taiwan calls on Britain to support its bid for Pacific trade pact - Reuters http://ooc.bz/l/123746 Japan announces $75 bln new plan to counter China in Indo-Pacific - Reuters http://ooc.bz/l/123748 Russia's Oil Flows Hold Up Despite Pledged Production Cut - BBG http://ooc.bz/l/123749 Oil hits lowest since 2021 on banking fears - Reuters http://ooc.bz/l/123751 Gold tops $2,000 on flight to safety after Credit Suisse collapse - SI http://ooc.bz/l/123753 Bitcoin Thrives in Chaos, Breaks Above $28,000 For First Time Since June - BBG http://ooc.bz/l/123755 Banks borrow only token amounts via Fed's dollar swap facility - Reuters http://ooc.bz/l/123757

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 20 mar - Borse europee sull'ottovolante dopo un fine settimana frenetico che e' terminato con il salvataggio di Credit Suisse e l'intervento delle principali banche centrali al mondo, scese in campo per fornire maggiore liquidita' al sistema finanziario. Gli indici sono partiti in deciso ribasso per poi recuperare a fine mattina, complice anche l'andamento delle azioni di Ubs, che hanno ridotto le perdite al 3,9% (dal 9%). Rimangono in profondo rosso i titoli di Credit Suisse (-59%). Gli investitori apprezzano le misure adottate per salvare l'istituto elvetico, una delle trenta banche piu' grandi al mondo, ma al tempo stesso temono che altri istituti possano trovarsi in difficolta'. Ritengono inoltre che alcuni nodi sul sistema bancario rimangano da sciogliere, come un eventuale stretta sulla liquidita' delle banche, che potrebbe comportare meno prestiti a imprese e famiglie e una minore remunerazione per gli azionisti. A meta' giornata Milano sale dello 0,54%, con lo spread a 194,9 punti e il rendimento dei Btp a 10 anni sceso al 3,98%. Parigi segna un progresso dello 0,8%, Francoforte dello 0,59%, Amsterdam dello 0,56%, Madrid dello 0,35% e Londra dello 0,34%."_

**Pour aujourd'hui nous avons le discours de C.Lagarde à 15h et 17h.** Il sera important de suivre ce qu'elle va dire mais cela pourrait notamment concerner la fusion CS et UBS et parler également de l'évolution de l'inflation. Il est également important de souligner que **François Villeroy (Directeur de la Banque de France et membre du conseil des gouverneurs de la BCE)** a donné quelques informations ce lundi 👇 **"La France devrait éviter la récession"**, a-t-il déclaré en ajoutant que "les banques françaises sont solides". **"La réglementation des banques françaises et européennes est meilleure que celle des Etats-Unis"**, a ajouté M. Villeroy. __Mais ce qui est également intéressant c'est ce qu'il a ajouté lors de son discours :__ **Les banques françaises ont des liquidités et des capitaux solides.** **Il réaffirme la détermination de la BCE à faire baisser l'inflation.** **Les banques françaises ne sont pas concernées par les problèmes bancaires observés aux États-Unis et en Suisse.** **Vigilant quant à l'inflation des prix alimentaires et du secteur de l'énergie.** **"Nous ne pouvons pas laisser l'inflation s'installer dans le système".** **Souhaiterait que, pour le mois de juin, les prix agricoles baissent.** 🧐 **Se félicite de l'acquisition du Crédit suisse par UBS.** Cela nous donne donc quelques indications sur les sujets dont Lagarde pourrait parler cette après-midi mais encore une fois je vous tiendrais au courant. À plus tard 💯👍

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 20 mar - Ubs bersagliata dalle vendite dopo l'accordo per l'acquisizione del Credit Suisse, che intanto si inabissa. Il titolo della prima banca svizzera attorno alle 9,40 accusa un calo del 12% a 15,04 franchi, mentre l'indice Smi arretra dell'1,6%. Il Credit Suisse, intanto, cede quasi il 63% a 0,6937 franchi, scendendo sotto il prezzo di acquisto (0,76 franchi). L'operazione siglata in extremis nella serata di ieri che vede Ubs rilevare il terremotato Cs per 3 miliardi di franchi con l'azzeramento di bond At1 per 16 miliardi di franchi, sta trascinando al ribasso tutto il comparto bancario in Europa, anche se molti titoli sono risaliti dai minimi toccati nelle primissime fasi della seduta. Sono tutti bancari o del settore finanziario i titoli peggiori dell'indice Stoxx Europe 600: Commerzbank cede l'8,5%, Allfunds il 10%, Deutsche Bank il 7,6%, Societe' Generale il 5,4%, Bnp Paribas il 5%, Ing il 5,3%. Tra le banche italiane, perdite piu' contenute per le big: Intesa perde il 2% e Unicredit il 2,8%, mentre Mps arretra del 5%. Tra le spagnole, il Santander cede del 3%. Tra le britanniche Hsbc e' in calo del 3,2%. Secondo gli analisti di Capital Economics le prospettive del mercato restano molto incerte. 'La struttura dell'operazione Credit Suisse non fa nulla per sistemare le cose, obbligando i detentori di debito obbligazionario ad accusare perdite, mentre vengono protetti alcuni azionisti, il che potrebbe aprire la strada a nuove turbolenze'. Il peso dei crediti a rischio e l'impatto della risalita dei tassi rischiano in effetti di penalizzare gli istituti piu' fragili, fanno notare gli esperti."_

Borsa Zurigo: -12% Ubs dopo l'accordo per il salvataggio del Credit Suisse (-63%)

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 20 mar - Borse europee di nuovo sotto pressione, nonostante l'annuncio del salvataggio di Credit Suisse e nonostante nella notte siano scese in campo le principali banche centrali del mondo per assicurare liquidita' al sistema. Gli investitori sono preoccupati che dopo la banca elvetica, altri istituti possano essere in difficolta', trovandosi a fare i conti con uno squilibrio tra attivi e depositi. Per altro alla Borsa di Zurigo Ubs ha aperto in ribasso quasi del 9%, mentre Credit Suisse tracolla di oltre il 60%. Sulle prime battute Francoforte perde il 2%, Parigi l'1,85%, Amsterdam l'1,5% e Madrid il 2,4%. Milano, risentendo del peso dei bancari, segna la performance peggiore, con il Ftse Mib giu' del 2,7%. Lo spread e' in risalita a un soffio dai 193 punti, anche se il rendimento dei Btp a dieci anni scende al 4%. Sui mercati gli annunci sul Credit Suisse hanno posto in secondo piano anche la notizia che il presidente cinese, Xi Jiping, oggi incontrera' a Mosca il presidente russo, Vladimir Putin, per analizzare un eventuale piano di pace per l'Ucraina. Intanto sale l'attesa per la decisione che adottera' il Fomc, il braccio operativo della Fed. Gli esperti ritengono che verra' deciso un rialzo di 25 punti base, dopo i crack di Svb e Signature Bank."_

(Reuters) - UBS agreed to buy rival bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) and assume up to $5.4 billion in losses, in a shotgun merger engineered by Swiss authorities to avoid further market-shaking turmoil in global banking. DEVELOPMENTS * Equity futures and Asian stocks struggled to stabilise on Monday, despite initial investor relief over the weekend deal to rescue Credit Suisse and promises of liquidity from central banks. * Credit Suisse told staff its wealth assets are operationally separate from UBS for now, but once they merged clients might want to consider moving some assets to another bank if concentration was a concern. * The Swiss Bank Employees Association said on Monday it was "deeply shocked" by the takeover of Credit Suisse and called on UBS to keep job cuts to an "absolute minimum". * The deal includes 100 billion Swiss francs ($108 billion) in liquidity assistance for UBS and Credit Suisse from the Swiss central bank. * The European Central Bank said on Sunday a Swiss rescue of Credit Suisse was "instrumental" for restoring calm on financial markets but it remained ready to support euro zone banks with loans if needed. * UBS Chairman Colm Kelleher said the bank wants to keep Credit Suisse's Swiss unit, speaking at a news conference announcing the merger between Switzerland's two biggest banks on Sunday. "It is a fine asset that we are very determined to keep and hopefully service their customers and clients as efficiently as Credit Suisse has done," Kelleher said. MARKET REACTION * Standard Chartered (OTC:SCBFF) Plc and HSBC shares each fell more than 6% in Hong Kong on Monday to more than two-month lows. The MSCI index for financial stocks in Asia ex-Japan was down 1.3%. * Safe-haven currencies the yen and U.S. dollar recovered from early steep declines and the risk-sensitive Australian and New Zealand dollars flipped to losses. QUOTES MAX GEORGIOU, ANALYST, THIRD BRIDGE, LONDON: "Today is one of the most significant days in European banking since 2008, with far-reaching repercussions for the industry. These events could alter the course of not only European banking but also the wealth management industry more generally." OCTAVIO MARENZI, CEO, OPIMAS, VIENNA "Switzerland’s standing as a financial centre is shattered – the country will now be viewed as a financial banana republic. The Credit Suisse debacle will have serious ramifications for other Swiss financial institutions. A country-wide reputation with prudent financial management, sound regulatory oversight, and, frankly, for being somewhat dour and boring regarding investments, has been wiped away. RELATED NEWS * The U.S. Federal Deposit Insurance Corp (FDIC) is planning to relaunch the sale process for Silicon Valley Bank after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender, according to people familiar with the matter. One of the options under consideration by the regulator is a sale process for the private bank of SVB for which bids are due on Wednesday, according to one of the sources, who requested anonymity as these discussions are confidential. * Four prominent U.S. lawmakers on banking matters said on Sunday they would consider whether a higher federal insurance limit on bank deposits was needed to stem a financial crisis marked by a drain of large, uninsured deposits away from smaller and regional banks. "I think that lifting the FDIC insurance cap is a good move," Senator Elizabeth Warren, a Democrat, said on CBS's "Face The Nation" program, referring to the Federal Deposit Insurance Corporation's current $250,000 limit per depositor.

Credit Suisse, UBS deal: What you need to know

Buonasera, tratta da AdnKronos "Ubs ha annunciato l'acquisizione di Credit Suisse per 3 miliardi di franchi. L'operazione è orchestrata dal Consiglio federale e dalla Banca nazionale svizzera, con l'istituto d'emissione che garantirà alle due banche liquidità per 100 miliardi di franchi. Per ridurre i rischi di Ubs, la Confederazione fornisce inoltre una garanzia di 9 miliardi per far fronte ai rischi di perdita dell'operazione."

Ciao sono nuovo e avrei una domanda. L'acquisto da parte di UBS potrebbe essere una buona notizia per il mercato, ma visto il prezzo di acquisto inferiore a quello di mercato potrebbe esserci un ulteriore crollo domani? > @dejanbacic said: UBS pagherà ora più di 0,50 franchi svizzeri una quota delle proprie azioni, molto al di sotto del prezzo di chiusura della Svizzera di 1,86 franchi svizzeri venerdì

Credit Suisse: UBS paga 3 miliardi, azione CS valorizzata a 0,76

About $17.3 Billion of Credit Suisse's bonds have become worthless after UBS takeover - BBG

$CS $UBS CREDIT SUISSE GROUP AG - EXCHANGE RATIO REFLECTS A MERGER CONSIDERATION OF CHF 3 BLN FOR ALL SHARES IN CREDIT SUISSE. *CREDIT SUISSE HOLDERS WILL GET 1 UBS SHARE FOR EVERY 22.48 SHRS *UBS PLANS TO CUT CREDIT SUISSE'S INVESTMENT BANK AFTER DEAL

https://www.zonebourse.com/amp/cours/action/CREDIT-SUISSE-GROUP-AG-9364979/actualite/UBS-accepte-de-racheter-Credit-Suisse-pour-plus-de-2-milliards-de-dollars-FT-43286923/

UBS qui rachète Crédit suisse dans un deal de 2 milliards c'est fou

SUMMARY OF UBS ACQUISITION OF CREDIT SUISSE, $CS: 1. UBS to pay more than $2 billion 2. Offer is ~$0.55/share, 73% below Friday’s close 3. Swiss Central Bank gives UBS $100 billion liquidity line 4. UBS looks to bypass shareholder approval 5. Deal announcement expected today

Si dice che UBS accetti l'acquisto di Credit Suisse.

https://www.financialjuice.com/News/7287765/UBS-agrees-to-purchase-Credit-Suisse-for-more-than-2-bln---FT.aspx

UBS pagherà ora più di 0,50 franchi svizzeri una quota delle proprie azioni, molto al di sotto del prezzo di chiusura della Svizzera di 1,86 franchi svizzeri venerdì

UBS AGREES TO BUY CREDIT SUISSE FOR MORE THAN $2BN - FT UBS WILL NOW PAY MORE THAN SFR0.50 A SHARE IN ITS OWN STOCK, FAR BELOW SUISSE’S CLOSING PRICE OF SFR1.86 ON FRIDAY - FT

Media: da nozze Credit Suisse - UBS possibile taglio 10.000 posti di lavoro... RaiNews24

https://www.financialjuice.com/News/7287169/UBS-is-said-to-be-concerned-about-Credit-Suisse-investment-bank-risk.aspx

Si prospetta un fine settimana ad alta tensione per salvare Credit Suisse, si parla di una possibile fusione con UBS, anche se non sono buoni i rapporti tra i 2 istituti bancari.

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 10 - Nonostante gli interventi per mettere in sicurezza Credit Suisse in Europa e First Republic Bank negli Stati Uniti, i mercati finanziari vivono una nuova seduta all'insegna delle vendite e le Borse europee chiudono la settimana con un altro netto calo: Piazza Affari ha archiviato le contrattazioni in calo del 1,64%, performance che porta a -6,5% il bilancio di una settimana nera segnata prima dal crack di Silicon Valley Bank e delle banche regionali Usa e poi dal caso Credit Suisse. Madrid ha ceduto l'1,9%, Francoforte e Parigi l'1,4% circa, Londra e Zurigo l'1%. Nell'intera settimana lo Stoxx600 ha lasciato sul terreno complessivamente quasi il 4%. 'Anche con tutte le misure intraprese dalla Fed, dal Tesoro americano, dalla BoE, dalla Banca nazionale svizzera e dalle banche Usa per stabilizzare la situazione, stiamo vedendo che i mercati sono in difficolta'' commenta Craig Erlam di Oanda davanti al -8% di Credit Suisse, per il quale si ragiona su un riassetto che coinvolga Ubs, e al -24% di First Republic nonostante i 30 miliardi di dollari messi a disposizione da 11 banche americane."_

Bonjour les PMTers 👋 Comme vous pouvez le voir aucune idée de trade n’a été envoyée pour la simple et bonne raison qu’il y a beaucoup de risques en ce moment. Soyez honnête et regardez vos performances de la semaine, ont-elles été bonnes ? Il y a peu de chance. Bref passons cela et concentrons-nous sur ce qui s’est passé récemment 👇 SVB en faillite ok on le sait… Le Crédit Suisse on en parlait mais c’était assez discret sauf depuis les dernières 72h car oui la banque se fera sûrement “racheter” entre autre par UBS. Mais le comble c’est que la BNS (Banque Nationale Suisse) décide de venir à son secours et de lui prêter environ 50 milliards de francs suisses. Une réunion de crise a été décidée par le gouvernement suisse et cela devait se dérouler aujourd’hui. Pas de retours significatifs pour le moment. Maintenant regarde ce graphique :

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 16 mar - Le Borse hanno ridotto nettamente i guadagni di inizio giornata tornando progressivamente sulla parita' prima delle decisioni Bce sui tassi di interesse. Piazza Affari, che aveva toccato +2% nei primi scambi, segna +0,01% nel Ftse Mib, con diversi titoli bancari e del risparmio gestito che hanno perso slancio (-1% Banca Generali, Bper, -0,8% Azimut, -0,6% Mediobanca). Poco sopra la parita' Amsterdam (+0,1%) e Francoforte(+0,2%) mentre Parigi e Madrid guadagnano mezzo punto percentuale. Fuori dall'area euro Londra sale dello 0,7% e Zurigo dello 0,6% con Credit Suisse che continua a correre (+25%) e trascina con se' gli altri finanziari (+5,5% Julius Baer, +4% Ubs). Negativi i futures di Wall Street su S&P500 e Dow Jones, tiene il Nasdaq: l'attenzione e' ancora una volta sulle banche con First Republic giu' del 21% in premercato sulle ipotesi di vendita della banca e il downgrade arrivato dalle agenzie di rating."_

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 15 mar - La fuga dalle banche torna al centro dei mercati borsistici europei: al termine di una mattinata di forti vendite tutti i principali indici azionari perdono tra il 2% e il 3% a causa della forte preoccupazione sullo stato di salute del Credit Suisse che a Zurigo precipita del 20%. Da inizio marzo le quotazioni sono scese del 37% tra l'iniziale rinvio della pubblicazione della relazione annuale, l'uscita dal capitale di Harris Associates e il deflusso dei fondi, ma il ko di oggi e' stato innescato dal fatto che Saudi National Bank (Snb) ha escluso ulteriori investimenti nella banca mentre le rassicurazioni arrivate dal presidente dell'istituto svizzero Axel Lehmann non sono servite. La Borsa di Zurigo perde il 2% con Ubs giu' del 7% e Julius Baer del 6%, ma le performance peggiori sono di Madrid (-3,9%) e Milano (-3,6%), i due listini con maggiore presenza di banche nel paniere principale. A Milano Unicredit cade del 7,3%, Finecobank del 7%, Intesa Sanpaolo del 6,66%, Banco Bpm del 6,5%, Bper del 6% e Mps del 6,5%."_

E' stato alzato il target price a 33 euro da parte di UBS. Fonte Alliancenews. > @gianni.ambrosin said: @Tatjana su BZU vedo che, nonostante la debolezza generalizzata dei MKTS oggi, il titolo si mantiene sopra la MM.50.p , segno perlomeno di forza relativa. 💪😉 IL G.

By Amruta Khandekar and Shristi Achar A (Reuters) - U.S. stock indexes fell on Friday as bank shares extended their slide after SVB Financial's efforts to raise capital fueled concerns about the sector's health, while signs of a cooling labor market eased some rate-hike jitters. Wall Street's main indexes recorded steep losses in the previous session after startups-focused lender SVB Financial Group's share sale to shore up its balance sheet wiped out more than $80 billion in value from bank shares. Trading in shares of SVB, whose efforts to raise money have failed according to a CNBC report, was halted on Friday after they fell more than 40% before the bell. The bank is in talks to sell itself, the report added. Among major S&P 500 sectors, financials dropped 2.8% while the banks sub-index lost 4.2%. The closely watched non-farm payrolls report showed the U.S. economy added jobs in February, average hourly earnings rose 0.2% last month after gaining 0.3% in January, while the unemployment rate rose to 3.6%. The data had been a focus area for markets concerned about aggressive interest rate hikes after Fed Chair Jerome Powell's hawkish remarks earlier this week, as any cooling in the labor market could persuade the Fed to ease their monetary policy approach. Traders are now pricing in a 28% chance of a 50-basis-point hike from the Fed this month, compared with a 50% chance before the numbers were released.A separate report on Thursday showed a sharp rise in jobless claims, which had also buoyed hopes of the Fed softening its monetary policy stance. "The headline (payrolls) number beat expectations, but the details are what's much more important and perhaps encouraging to those who think that the Fed doesn't need to do a 50 basis point hike," said Brian Jacobsen, senior investment strategist at Allspring Global Investments. "There's not a lot of evidence that wages are spiraling out of control. It means that maybe the Fed would be comfortable doing 25 basis points at their next meeting." All three major U.S. indexes were headed towards weekly losses as Fed Chair Jerome Powell earlier this week left open the possibility of a large rate hike at the Fed's March meeting, after the central bank dialed down the size of its rate hike last month. At 9:46 a.m. ET, the Dow Jones Industrial Average was down 156.67 points, or 0.49%, at 32,098.19, the S&P 500 was down 34.26 points, or 0.87%, at 3,884.06, and the Nasdaq Composite was down 146.50 points, or 1.29%, at 11,191.86. Among other stocks, Gap Inc (NYSE:GPS) fell 6.5% after the apparel maker posted a bigger-than-expected fourth-quarter loss and forecast full-year sales below Wall Street estimates. Oracle Corp (NYSE:ORCL) slid 3.6% after the software firm missed third-quarter revenue estimates, while Caterpillar Inc (NYSE:CAT) slipped 1.4% after UBS downgraded the equipment maker to "sell" from "neutral". DocuSign (NASDAQ:DOCU) dropped 20.4% as the digital document signing tool provider forecast first-quarter revenue below estimates and announced its chief financial officer's exit. Declining issues outnumbered advancers by a 3.33-to-1 ratio on the NYSE and by a 3.88-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week highs and 27 new lows, while the Nasdaq recorded 12 new highs and 294 new lows.

Su Buzzi e' pure stato alzato il Target a 33 euro da parte di UBS

By Mohi Narayan and Sudarshan Varadhan (Reuters) - Oil prices slipped on Monday after China set a lower-than-expected target for economic growth this year at around 5%, and as investors cautiously awaited U.S. Federal Reserve Chair Jerome Powell's testimony this week. Brent crude futures were trading down 53 cents, or 0.6%, at $85.30 a barrel at 0735 GMT. U.S. West Texas Intermediate (WTI) crude futures were also down 0.6% at $79.21. "Crude remains in a tug-of-war between optimism over Chinese reopening and nervousness over a hawkish Fed hurting the U.S. economy," said Vandana Hari, founder of oil market analysis provider Vanda (NASDAQ:VNDA) Insights. China's closely watched growth outlook, announced on Sunday, was lower than its 5.5% gross domestic product (GDP) growth target last year. GDP grew last year by just 3%. Policy sources had told Reuters a range as high as 6% could be set for 2023. Premier Li Keqiang said on Sunday the foundation for stable growth in China needed to be consolidated, insufficient demand remained a pronounced problem, and the expectations of private investors and businesses were unstable. However, analysts at UBS Investment Bank upgraded their forecasts for China's GDP growth to 5.4% for 2023 and to 5.2% for 2024 from 4.9% and 4.8% respectively. "Economic re-opening is proceeding better than we had expected earlier – the feared 'second-wave' of COVID did not materialize and there was little sign of supply disruptions," Tao Wang, Head of China economic research at UBS Investment Bank, said in a note. Both crude benchmarks settled more than $1 higher on Friday after two sources told Reuters a report that the United Arab Emirates was considering leaving OPEC was inaccurate. Hari said the rebound was bigger than the slump on the original news and put crude prices in "overbought territory, so (it's) hardly surprising that prices are correcting downwards this morning". At the same time, oil prices are likely to be impacted by rate hikes across the world as global central banks tighten policy over fears of increasing inflation. Traders have started factoring in rate hikes across the world, but are hoping for smaller increases than last year. The United States Federal Reserve's Chair Jerome Powell will testify to Congress on Tuesday and Wednesday, where he will likely be quizzed on whether larger hikes are needed in the world's largest oil consuming country. The United States' future rate hikes are also likely to depend on what the February payrolls report reveals on Friday, followed by the February inflation report due next week. Over the weekend, European Central Bank President Christine Lagarde said it was "very likely" they would raise interest rates this month to keep a lid on inflation.

By Shadia Nasralla LONDON (Reuters) -Oil prices firmed on Thursday after Brent crude posted its biggest one-day loss for seven weeks in the previous session, with gains on Russian supply curbs capped by an expected rise in U.S. inventories. Brent crude futures rose 84 cents, or 1%, to $81.44 a barrel by 1248 GMT, compared with about $98 a barrel on the eve of Russia's invasion of Ukraine a year ago. West Texas Intermediate crude futures (WTI) advanced 80 cents, or 1.1%, to $74.75 after six sessions of losses. Lending support to prices, Russia plans to cut oil exports from its western ports by up to 25% in March, exceeding its announced production cuts of 500,000 barrels per day. Both oil benchmarks lost more than $2 in the previous session on expectations of further increases to interest rates. Minutes from the latest U.S. Federal Reserve meeting on Wednesday showed that a majority of Fed officials agreed that the risks of high inflation warranted further rate hikes. The policymakers also suggested that a shift to smaller increases would let them calibrate more closely with incoming data. The dollar, meanwhile, has strengthened against a basket of other currencies in recent weeks, making oil more expensive for holders of other currencies. Oil price gains were also kept in check by signs of further crude inventory builds. U.S. crude oil and fuel inventories rose by 9.9 million barrels last week, according to market sources citing American Petroleum Institute figures. U.S. oil inventories have climbed every week since mid-December, stoking worries about demand. [API/S] A Reuters poll had forecast a 2.1 million barrel increase in crude stockpiles last week. Official data from the U.S. Energy Information Administration is due at 1600 GMT. While a stronger dollar remains a near-term headwind for crude, we expect lower Russian production and China's reopening to tighten the oil market and support prices, UBS analysts said.

By Rowena Edwards LONDON (Reuters) -Oil prices fell on Wednesday as concerns about fuel demand were stoked by expectations minutes of the U.S. Federal Reserve's most recent policy meeting due later in the day would indicate a need for higher interest rates. Brent crude futures for April delivery were down 79 cents, or 0.95%, to $82.26 a barrel at 1452 GMT. West Texas Intermediate (WTI) crude futures for April dropped by 68 cents, or 0.89%, to $75.68 a barrel. The minutes from the Federal Reserve's last policy meeting are expected to give traders a glimpse how much further interest rates may need to rise to slow inflation and cool an economy that has remained stronger than expected despite monetary tightening. Higher interest rates tend to lift the dollar, making dollar-denominated oil more expensive for holders of other currencies and reducing demand. [USD/] Other economic reports from the United States, the world's biggest oil consumer, showed some troubling signs however. Sales of existing homes fell in January to their lowest since October 2010. A preliminary Reuters analyst poll on Tuesday also showed a rise in U.S. crude inventories, exacerbating demand worries. Inventory reports from the American Petroleum Institute, an industry group, are due at 4:30 p.m. ET (2130 GMT) on Wednesday. [EIA/S] The economic outlook across Europe, however, continues to show resilience, UBS said in a note. This followed business surveys released on Tuesday which showed surprisingly strong growth. Expectations of tighter global supplies and rising demand from China also cushioned overall price weakness. Analysts expect China's oil imports to hit a record high in 2023 to meet increased demand for transportation fuel and as new refineries come on stream. In a note on Wednesday, Daniel Hynes, senior commodity strategist at ANZ Bank, pointed to state-owned PetroChina and Unipec booking 10 supertankers to import oil from the United States next month, equal to about 20 million barrels of crude, as signs of rising Chinese demand. China is the world's largest oil importer. Morgan Stanley (NYSE:MS) has raised its global oil demand growth estimate for this year by about 36%, citing growing momentum in China's reopening and a recovery in aviation, but flagged higher supply from Russia as an offseting factor.

By Senad Karaahmetovic The U.S. stocks fell modestly last week with the S&P 500 (SPX) closing the week 0.28% lower - the first time it recorded two consecutive weekly red candles since December. The index is essentially flat month-to-date (MTD), which is quite positive for bulls as the January rally is still holding in. Looking at valuation, the forward 12-month P/E ratio for the S&P 500 is 18.0, below the 5-year average of 18.5% but above the 10-year average of 17.2. The Dow Jones Industrial Average Index (DJI) has continued to hover around 34000, ending the week 0.13% lower. Nasdaq Composite Index (IXIC) was the only major U.S. index to close in green last week after dropping 2.4% a week earlier. Looking ahead, this week's key economic data releases include the Q4 GDP second release on Thursday while investors will also watch closely the core PCE inflation and the University of Michigan reports on Friday. Earlier in the week, the minutes from the January FOMC meeting will be released (Wednesday) while several Fed speakers are due to speak this week, including Jefferson, Waller, Williams, Bostic, Daly, Mester, Bullard, and Collins. Q4 earnings session so far As of Friday, February 17, 82% of S&P 500 companies have reported results for Q4 2022. According to FactSet's data, 68% of S&P 500 companies have reported a positive EPS surprise and 65% of S&P 500 companies have reported a positive revenue surprise. As far as closely watched guidance is concerned, 65 S&P 500 companies have issued negative EPS guidance and 20 S&P 500 companies have issued positive EPS guidance. For this week, Home Depot (NYSE:HD) and Walmart (NYSE:WMT) have already reported earnings with both trading lower, thanks to the weaker-than-expected guidance for the full year. Coinbase (NASDAQ:COIN) and Palo Alto Networks (NASDAQ:PANW) are due to report on Tuesday, while Nvidia (NASDAQ:NVDA) and eBay (NASDAQ:EBAY) are reporting on Wednesday after the market close. Finally, Alibaba (NYSE:BABA) and Booking (NASDAQ:BKNG) are due to report on Thursday. What are analysts saying? Here's what analysts have to say about the upcoming trading week. Goldman Sachs analysts: "Our risk appetite indicator (GSRAII), sentiment surveys and CTAs equity positioning registered the largest bullish turn (from very bearish levels). We think the speed of the rebound lowers the bar for a negative sentiment shock from here if macro data disappoint." Morgan Stanley analysts: "With the Equity Risk Premium at its lowest level since 2007, the risk-reward for stocks is extremely poor, particularly with a Fed that is likely far from done, and earnings expectations that are 10-20% too high. It's time to head back to base camp before the next guide down in earnings." Citi analysts: "Last year's losing trades have started 2023 very strongly. Global equities, especially tech stocks, are up. Oil and defensive stocks have lagged. However, markets often change leadership into the new year, only to revert back to the previous themes later on. We suspect 2023 will follow this well-worn pattern." UBS analysts: "We still expect a hard landing… We added a May rate hike to the projection, and point to the risks that the FOMC raises rates by an additional 25 bps at their June meeting too. But higher rates do not make us more bullish on the economic outlook." Credit Suisse analysts: "The bulls have been playing two key datapoints (global PMIs rising and core CPI falling), and thus the negative catalyst will come when either stops. Wages and service sector inflation (ex shelter) are correctly seen as the key to overall inflation, and we think both are stickier than the market currently perceives." Vital Knowledge analysts: "The current phase of unhelpful economic data may persist for a bit longer (including the Jan PCE on Friday 2/24) and the SPX's valuation still isn't appealing, but these are ephemeral stumbling blocks, which is why dips (down to 4000-4050) should be bought. Disinflation is likely to resume, central banks (including the Fed) are nearing the finish line, and earnings/growth are resilient." JPMorgan analysts: "With equities trading near last summer’s highs and at above-average multiples, despite weakening earnings and the recent sharp move higher in interest rates, we maintain that markets are overpricing recent good news on inflation and are complacent of risks. Equity markets appeared to read this month's central bank meetings as dovish, while dismissing the weak Q4 earnings and the implications of the strong US payroll report for both monetary policy and corporate margins. We see the equity risk/reward as skewed to the downside, as upside potential for markets is likely fairly limited given stretched valuations and high rates, while downside could be meaningful, e.g. in case of a further weakening of activity, persisting inflation, higher terminal rates, or a resurgence of geopolitical risk."

**MARKET TALK: lusso, 2023 anno del consumatore cinese (Ubs)** _"MILANO (MF-DJ)--Il 2023 sara' l'anno del consumatore cinese. E' quanto sottolinea Ubs in una nota sul comparto del lusso, in cui gli analisti ricordano come negli ultimi tre anni le restrizioni per far fronte al Covid-19 abbiano determinato una significativa sottoperformance del consumatore cinese di beni di lusso. Secondo le stime di Ubs nel 2022 il peso dei consumatori cinesi sulle vendite di lusso e' stato del 17%, contro il 33% del 2019. Gli esperti si aspettano che il settore nel 2023 segni un +9% delle vendite (+6% il consenso) proprio grazie alla ripresa dei volumi in Cina."_

**ENERGIA - UBS:** Nel 2023 il petrolio registrerà una ripresa della domanda e un rallentamento dell'offerta. Il Brent è visto in crescita fino a 110 dollari al barile nel 2023, con il WTI a 107 dollari al barile.

$UBS Feb 17.5 P $CHWY Jan 42.5 P $AMC Dec30 P $AGNC Feb 10 P

$UBS Feb 17.5 P $CHWY Jan 42.5 P $AMC Dec30 P $AGNC Feb 10 P