Europe

Switzerland and India could resume discussions on a free trade agreement at the end of the week. Swiss President Johann Schneider-Ammmann has discussed with the Indian Prime Minister Narendra Modi in Geneva today.

"We have established a very good basis" of discussion for the next days and the next few months, Schneider-Ammann said in a meeting with Nerandra Ways and twenty representatives of the Swiss economy. Previously the Swiss minister of the economy had entertained for over an hour with the head of the Indian government. The talks were energy and financial issues.

The wealthy clientele, given the low interest rates and the uncertainty on the financial markets, do not know where to invest their assets. The proportion of undecided, according to a study published by the Liechtenstein bank LGT, reaches 40%.

Almost everyone agrees that there are no alternatives to the equity markets, but few have increased investment in this sector: the share is so remained unchanged at 44%.

The study, which examined a representative sample of wealthy investors in Switzerland, Austria and Germany, shows that 25% of holders of securities judge the overvalued stock market. For the property market rises proportion to 52%.

Interest rates will remain at current levels or lower for an extended period and the quantitative easing program will last at least until March 2017. This was stated by President of the ECB Mario Draghi stating that the Q and will last as long as there will be a correction significant inflation and that stimuli have rebalanced the risks and the economy is gradually advancing.

The ECB, Draghi added, will not hesitate to act if necessary. And it recalled that the low rates are a symptom of a weak economy and that they are the right fit for restoring growth. In addition, the ECB will use all the instruments available within the framework of its mandate if necessary.

It had been known for months and yesterday the Bank of England has officially unveiled the design of the new 5-pounds banknotes that will come into circulation from September 13.

On one side appears the irreplaceable face of Queen Elizabeth, and on the other that of the statesman Winston Churchill, selected to replace Elizabeth Fry, nineteenth-century reform of the penitentiary system in the United Kingdom.

The merger between the London Stock Exchange and Deutsche Boerse could involve cutting 1,250 jobs in what would become the largest European square.

The predictions announced the two companies even if the London Stock Exchange states that will create 200 new jobs to create new initiatives, waiting for July 4, the London Stock Exchange shareholders approve the transaction. LSE shareholders will receive 0.4421 new shares for each LSE share they own, those of Deutsche Boerse will receive one new share for every Deutsche Boerse in the portfolio.

Credit Suisse will issue 75.5 million new shares to finance the optional dividend paid for the year 2015. The increase represents 3.8% of the current share capital. The price was fixed at 12.47 francs per title.

Shareholders have exercised almost 1.3 million option rights in favor of a dividend in the form of new shares. Yesterday it was the last day to choose the payment method, like a today’s press release mentions.

The issue price was calculated on the basis of the reference price of the shares Credit Suisse, or 13.86 francs, less 10%. The distribution will take place on June 6th.

New economic recovery signals for the Swiss industry: in the second quarter, the UBS barometer of small and medium-sized enterprises (SMEs) rose to -0.16 points, compared with -0.18 points in the first three months of the year . For large companies, which compared to the smaller ones have suffered less than the ex-strengthening, it has gone from 0.24 to 0.52 points.

"The industry seems to have started to get back on top," the UBS economists commented in a statement today. In the second quarter barometers they have reached the highest level since October 2014. Regarding SMEs contributed to this improvement especially the increase in orders and backlog slightly higher than the previous month. The forecasts relating to orders for the third quarter were however not very rosy, a fact that probably prevented a more marked elevation of the barometer.

According to market expectations, the European Central Bank left interest rates unchanged at the end of the Monetary Policy Council. The main rate remains stuck at a record low of 0.00%, the rate on bank deposits to -0.40% and the marginal lending facility at 0.25%. The ECB announced after the meeting that was held in Vienna.

The plan of the corporate bond purchases ECB will start on June 8 and June 22 will be the turn of the maxi-Tltro loans to banks.