| Zurich Market Talk - 21-10-2011 |
| 21.10.11 07:18 | |
|
Newron, a research and development company focused on novel CNS and pain therapies, announced today that Merck Serono, a division of Merck KGaA, Darmstadt Germany, is returning global rights to safinamide to Newron effective in 180 days. The decision by Merck Serono is due to strategic considerations and re-prioritization of its R&D pipeline, and is not based on any new efficacy or safety findings with safinamide. Link: Hier Klicken BKW: First workforce measures affect Networks Division. Regulatory environment and market conditions. With a view to further developing its market position and as part of the economising programme already announced, BKW FMB Energy Ltd. (BKW) has taken measures to reduce the workforce in the Networks Division. The move was prompted in particular by the changed regulatory environment and increased pressure on costs. In mid-April 2011, the Federal Electricity Commission (ElCom) decided on a substantial reduction in permissible revenues from the distribution grid. Around 55 employees are affected by the job cuts. Link: Click Here Economy ******** Euro area consumer confidence now consistent with flat annual private consumption growth. Euro area October "flash" consumer confidence decreased from -19.1 to -19.9 (Barclays Capital: -20.7; consensus: -20.0). Although this marks the fourth consecutive decline, today's outturn is the smallest decline (-0.8) in the past four months. The average decline over the past four months is nevertheless still -2.6 points. Link: Click Here UK: Strong retail in Sept, but downward revisions to past. Retail sales volumes (ex petrol) rose a robust 0.7% in September: notably above market expectations of a 0.2% gain. However, that upside surprise was more than offset by downward revisions to the past: YoY retail sales growth in September was 0.4%, a touch below market expectations of 0.6%. Link: Click Here The Swiss trade surplus widened to CHF1.85bn (nsa) in September from CHF0.76bn in August. In sa terms, the September surplus was CHF1.90bn, compared with CHF1.13bn a month earlier. Exports (sa) rose 3.4% m/m in real terms (reaching CHF16.63bn in nominal terms) and were up 8.8% y/y in wda terms. Link: Click Here |
| < Prev | Next > |
|---|