| Zurich Market Talk - 03-01-2012 |
| 03.01.12 07:45 | |
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EFG International sells EFG Bank Denmark to SEB Wealth Management. As part of its business review, EFG International is in the process of resetting businesses and locations, and has agreed to sell EFG Bank Denmark to SEB Wealth Management, effective from 1 January 2012. The terms are not being disclosed. Link: Click Here Evolva in collaboration with Roquette. Evolva Holding SA (SIX: EVE) today announced the signing of an agreement with Roquette Frères SA for joint research and development of novel and optimised biosynthetic production routes for an ingredient with important applications in food products. Roquette is a world leader in the area of nutrition and other products based on raw vegetable materials. Link: Click Here Adecco Group, the global leader in Human Resource services, today announces the acquisition of VSN Inc., a leading provider of professional staffing services in Japan, for an enterprise value of EUR 90 million1. VSN Inc. doubles the exposure to professional staffing of Adecco in Japan and reinforces Adecco’s strong position in an attractive structural growth market. Adecco expects the transaction to be immediately EPS accretive and EVA2 enhancing in year one. Link: Click Here Economy ******** China: Seasonally-adjusted NBS PMI stabilised at around 50 in December. The pick up in the input cost index and uncertain commodity prices suggest pipeline inflationary pressures remain. China's NBS manufacturing PMI rose above the 50 threshold to 50.3 in December (BarCap and Bloomberg: 49.1), from 49 in November. After adjusting for seasonality (sa), the NBS PMI rebounded less to 49.9 vs 49.8 in November. Link: Click Here Euro area December final PMIs: Small improvements confirmed across the board. The euro area "flash" headline manufacturing index was confirmed at 46.9 in its final form. Between November and December, the PMI manufacturing index thus increased 0.6 points. The output and new orders indices eventually rose by 1.4 and 1.1 points to 47.1 and 43.5. For the second consecutive month since April 2010, the employment index was below the 50-breakeven at 49.9, consistent with job losses in the sector - although at a very minor pace at this stage. Link: Click Here |
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