Zurich Market Talk - 14-10-2011
14.10.11 07:55

 

EMS Group achieved 15.0% higher net sales in local currencies compared to the previous year. Net sales in Swiss Francs amounted to CHF 1'255 million (1'226), which is 2.3% above the previous year's figure. The weakening trend for worldwide economic growth, which was already visible in the second quarter of 2011, became more pronounced in the third quarter. Link: Click Here

Syngenta:
Sales in the third quarter of 2011 increased by 16 percent at constant exchange rates. Volume expanded by 13 percent, representing the sixth consecutive quarter of double digit growth, and prices rose 3 percent. In the first nine months of the year, sales were up 13 percent at constant exchange rates at $10.4 billion. Link: Click Here

Clariant
successfully places EUR 365 million of certificates of indebtedness. Clariant, a world leader in specialty chemicals, announced today the issuance of totally EUR 365 million in the German market for certificates of indebtedness ("Schuldschein"). The four certificates have a term of 3 years (EUR 242 million) respectively 4.5 years (EUR 123 million) each with fix or float coupons. Link: Click Here


Sulzer: strong Swiss franc had a significant negative translation effect on absolute figures. In the first nine months of 2011, Sulzer received orders of CHF 2 647.1 million. This was an adjusted1 increase of 16.5% (nominal increase of 8.2%) compared with the same period of the previous year. Order intake increased due to growth in early-cycle markets and larger orders in the oil and gas market in the first half of the year. Uncertainties in the financial markets have started to influence customer ordering behavior recently. Link: Click Here



Economy
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S&P: Long-Term Rating On Spain Lowered To 'AA-' On Economic Growth And Banking Sector Risks; Outlook Negative
. Despite signs of resilience in economic performance during 2011, we see heightened risks to Spain's growth prospects due to high unemployment, tighter financial conditions, the still high level of private sector debt, and the likely economic slowdown in Spain's main trading partners. Link: Click Here


 
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