STOCK MARKET REPORT by CEO Silvano Grimaldi of the independent asset management company GRIMALDI & PARTNERS Ltd.

STOCK MARKET REPORT by CEO Silvano Grimaldi of the independent asset management company GRIMALDI & PARTNERS Ltd.

MONTHLY REVIEW

The international stock markets ended the month of DECEMBER with losses.

BURDENING FACTORS

Concerns about the economy as a result of restrictive monetary policy signals.
The US Federal Reserve has indicated more rate hikes for 2023 than previously expected.
The major central banks have disappointed hopes that interest rate hikes will end soon.
According to the forecasts, a higher interest rate level than the central bankers had previously promised.

EQUITIES IN FOCUS

Zurich Insurance starts share buyback program next week

The insurer Zurich is launching a previously announced share buyback program of up to CHF 1.8 billion. A separate trading line will be opened on the Swiss stock exchange for this purpose.

The buyback program will start on November 21 and last until the end of 2023 at the latest. The Board of Directors intends to destroy the repurchased registered shares by means of a capital reduction.

The insurer had already announced the share buyback on August 11 together with the half-year figures.

MONTHLY OUTLOOK

There was no year-end rally last December, perhaps because the stock markets had already recovered strongly at the beginning of December.

In January 2023, optimism is likely to take over and ensure a good plus.

We expect a positive trend on the stock markets for January 2023.

STOCK RECOMMENDATION: ZURICH INSURANCE