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Efg Financial Products LTD Brandschenkestrasse 90, Ch-8002
Efg Financial Products LTD Brandschenkestrasse 90, Ch-8002
EQUITIES _______________________________________________________________________________
Switzerland Europe
Companie Financiere Richemont SA (CFT VX) Air France-KLM Group (AF FP)
• Richemont is in talks to buy the shares in Internet • Europe’s biggest airline may face new
clothing retailer Net-a-Porter International Ltd. it competition after Turkish Airlines Chief Executive
doesn’t already own, the Sunday Times reported, Officer Temel Kotil said Central Europe is a region
without saying where it got the information. of interest. Turkish Airlines also aims to win market
Richemont controls a 29% stake in the company, share from Deutsche Lufthansa AG (LHA GY) and
which would be valued at about £350mn ($532.1 British Airways Plc (BAY LN).
mn) if the deal is completed, according to the
Times.
USA
Gold
Gold rose in Asia as the metal’s drop to a two-week low spurred purchases and a decline in the euro and equity
markets prompted some investors to seek an alternative investment. Gold for immediate delivery gained as
much as 0.3% to $1,105.25 an ounce, before trading at $1,103.65 at 9:10 a.m.in Singapore. The precious metal
fell to $1,098.70 on March 12, the lowest price since Feb. 25. Bullion priced in euro climbed today for the first time
in four days as the 16-nation currency declined.
Soft Commodities
Wheat futures declined in Chicago as the dollar gained, making U.S. crops less attractive to importers and
investors. Soybeans also fell. May-delivery wheat fell as much as 0.6% to $4.825 a bushel in after-hours electronic
trading on the Chicago Board of Trade, before trading at $4.8325 at 1:33 p.m. Singapore time. Wheat exports
from the U.S. dropped to 56 million bushels in December, from 70.6 million bushels a month earlier, the nation’s
Department of Agriculture said March 12. May-delivery soybeans were little changed at $9.25 a bushel at 1:49
p.m. p.m. Singapore time after trading between $9.2175 and $9.275 a bushel. The oilseed may decline this week
as record South American crops slow demand for U.S. supplies, the Bloomberg News survey showed. Twenty-one
of 39 respondents said to sell the oilseed. Soybeans may decline below $9 a bushel for the time since October
as China, the world’s biggest importer, may switch more cargoes from the U.S. to South America, according to a
separate Bloomberg survey. Prices may decline next month as more cancelations may be reported, according
to nine out of 10 traders and researchers contacted in China for the survey. A net purchase of 192,400 tons of
U.S. soybeans from China was cancelled in the week through March 4, the Department of Agriculture said last
week.
FX ____________________________________________________________________________________
The dollar and yen rose amid concern tensions between the U.S. and China will escalate and sovereign credit
ratings will deteriorate, boosting demand for the currencies as a refuge. Japan’s yen strengthened versus 12 of
its 16 major counterparts after Chinese Premier Wen Jiabao rebuffed calls for the yuan to appreciate, risking a
worsening of relations with the U.S. The pound fell for the first time in three days against the dollar after Moody’s
Investors Service said the U.K. has moved “substantially” closer to losing its AAA credit rating as the cost of
servicing its debt rose. The dollar rose to $1.3741 per euro as of 3:08 p.m. in Tokyo from $1.3769 in New York on
March 12. It was at 90.59 yen from 90.56 yen. The euro slipped to 124.47 yen from 124.69 yen. The pound
declined to $1.5165 from $1.5204 in New York on March 12. The currency fetched 90.60 pence per euro from
90.53 pence. The Dollar Index, which tracks the currency against those of six major U.S. trading partners, rose
0.1% to 79.928.
This information is issued to qualified investors only and is not research. The information contained in this paper is based on or derived from information generally available to the
public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to
change without notice. This paper has been prepared solely for information purposes and does not constitute any solicitation to buy or sell any instrument, or to engage in any
trading strategy. Products mentioned in this document qualify as structured products and are derivative financial instruments. The products do not qualify as units of a collective
investment scheme pursuant to art. 7 et seqq. of the Swiss Federal Act on Collective Investment Schemes (CISA) and are therefore neither registered nor supervised by the Swiss
Financial Market Supervisory Authority FINMA.Investors should be aware that they are exposed to the credit risk of the issuer and the guarantor, respectively. Charts and market
data provided by Reuters. © EFG Financial Products AG. All Rights reserved.