Severfield Plc

1.40 (2.28%)
Share Name Share Symbol Market Type Share ISIN Share Description
Severfield Plc LSE:SFR London Ordinary Share GB00B27YGJ97 ORD 2.5P
  Price Change % Change Share Price Shares Traded Last Trade
  1.40 2.28% 62.80 144,466 16:35:25
Bid Price Offer Price High Price Low Price Open Price
60.20 62.60 61.20 61.20 61.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Structural Steel Erection 408.15 15.60 5.00 12.28 193.57
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:25 UT 2,783 62.80 GBX

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Date Time Title Posts
06/6/202311:47Swiss Franc/ Euro Relationship2,446
25/4/202308:11Severfield moves closer4,467
15/6/200709:01Severfield...moving up nicely...latest upgraded forecasts look good23
27/4/200509:37Severfield - The one to go for - set for Ј4.00149

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Posted at 11/5/2023 15:16 by waldron

SNB rates not yet restrictive enough to tame prices, Jordan says
swiss national bank

The Swiss National Bank’s interest-rate moves haven’t yet fully tamed inflation, according to its President Thomas Jordan.

This content was published on May 11, 2023
May 11, 2023


“Monetary policy is still not restrictive enough to anchor inflation in the area of price stability,” Jordan said on Wednesday in Chur, Switzerland. “We cannot exclude that we have to further tighten monetary policy.”

Switzerland’s central bank has lifted rates by 225 basis points since last June. While the SNB – which next meets on June 22 – kicked off its tightening cycle earlier that the European Central Bank, its schedule of just one meeting a quarter means it has raised borrowing costs by less than its euro-area counterpart.

Comparatively slow Swiss inflation has also allowed this less aggressive stance: Consumer-price growth in April was just 2.6% – fraction of the rate in the surrounding euro area. Still, the SNB sees inflation staying at 2% or higher through 2025, hovering on the upper edge of its target range.

“If the inflation forecast is significantly above the area of price stability, then monetary policy is too loose,” Jordan said, adding that the current forecast is close to the central bank’s target.

Posted at 30/4/2023 04:54 by ariane

Swiss Franc Can Count on Further Hikes at the SNB

Modified: Thursday, 23 March 2023 10:48 GMT
Written by: Gary Howes

The Swiss Franc can count on further interest rate hikes from its central bank to underpin value.

The Swiss National Bank (SNB) raised interest rates by a further 50 basis points to 1.5% on Thursday and said more were coming.

"It cannot be ruled out that additional rises in the SNB policy rate will be necessary to ensure price stability over the medium term," said the SNB in a statement detailing its decision.

The central bank said it was necessary to raise rates in order to challenge "renewed" inflationary pressures.

"Despite the events related to Credit Suisse, the SNB has not flinched and decided to raise its interest rate by 50 basis points to 1.5%," says Charlotte de Montpellier, Senior Economist, France and Switzerland at ING Bank.

The Pound to Franc exchange rate was quoted at 1.1265 in the wake of the decision, the Euro to Franc was at 0.9958 and the Dollar to Franc at 0.9134.

"The Swissy rose to a week high against the dollar on the news," says Neil Wilson, Chief Market Analyst at Finalto.

"The Swiss franc rose after the SNB hike," says Francesco Pesole, FX Strategist at ING Bank. "The SNB actively favours a stronger CHF to limit imported inflation."

The reaction is however relatively contained and suggests the market largely expected the decision and guidance.

The SNB was required to opt for another 'large' hike of 50bp as it meets at fewer intervals than its major peers and therefore a 25bp move might have meant that a gap in Swiss policy relative to elsewhere opened up.

This would have meant Swiss bond yields and other financial assets risked being left at a greater discount to those elsewhere, putting downside pressure on the CHF.

It also meant the central bank might risk being caught flat-footed in fighting rising inflation.

The decision therefore underpins the Franc over the medium term.

Posted at 28/4/2023 07:20 by florenceorbis

Swiss National Bank to face Credit Suisse and climate protests at fraught AGM
Published Fri, Apr 28 20231:07 AM EDT
Elliot Smith

Key Points

More than 170 climate activists have now purchased a SNB share. Around 50 will be in attendance on Friday, and activists plan around a dozen speeches on stage at the AGM.

The central bank played a key role in brokering the controversial rescue of Credit Suisse by UBS over the course of a chaotic weekend in March.

Climate campaigner Jonas Kampus told CNBC that activists hope the national focus on the SNB after the Credit Suisse crisis provides fertile ground to advance concerns about climate risk.

The Swiss National Bank will hold its annual general meeting in Bern on Friday against a backdrop of protest over its action on climate change and its role in the emergency sale of Credit Suisse
to Swiss rival UBS


The central bank played a key role in brokering the rescue of Credit Suisse over the course of a chaotic weekend in March, as a flight of deposits and plummeting share price took the 167-year-old institution to the brink of collapse.

The deal remains mired in controversy and legal challenges, particularly over the lack of investor input and the unconventional decision to wipe out 15 billion Swiss francs ($16.8 billion) of Credit Suisse AT1 bonds.

The demise of the country’s second-largest bank fomented widespread discontent and severely damaged Switzerland’s long-held reputation for financial stability. It also came against a febrile political backdrop, with federal elections coming up in October.

While the SNB will no doubt face questions and grievances from shareholders about the Credit Suisse situation on Friday, the country’s network of climate activists will also be seeking to use the central bank’s unwanted spotlight to challenge its investment policies.

Unlike many major central banks, the SNB operates publicly-traded company, with just over half of its roughly 25 million Swiss franc ($28.1 million) share capital held by public shareholders — including various Swiss cantons (states) and cantonal banks — while the remaining shares are held by private investors.

More than 170 climate activists have now purchased a SNB share, according to the SNB Coalition, a dedicated pressure group spun out of Alliance Climatique Suisse — an umbrella organization representing around 140 Swiss environmental campaign groups.

Around 50 of the activist shareholders will be in attendance on Friday, and activists plan to make around a dozen speeches on stage at the AGM, climate campaigner Jonas Kampus told CNBC on Wednesday. Protests will also be held outside the event.

The group is calling for the SNB to dispose of its stock holdings of “companies that cause serious environmental damage and/or violate fundamental human rights,” pointing to the central bank’s own investment guidelines.

In particular, campaigners have highlighted SNB holdings in Chevron, Shell, TotalEnergies, ExxonMobil, Repsol, Enbridge and Duke Energy.

Members of a Ugandan community objecting to TotalEnergies’ East African Crude Oil Pipeline, will also attend on Friday, with one planning to speak on stage directly to the SNB directorate.

As well as a full exit from fossil fuel investments, activists are demanding that the SNB implement the “one for one rule,” — a capital requirement designed to prevent banks and insurers benefiting from activities that are detrimental for the transition to net zero.

In this context, the SNB would be required to set aside one Swiss franc of its own funds to cover potential losses for each franc allocated to financing new fossil fuel exploration or extraction.

Ahead of the AGM, the central bank declined on legal grounds to schedule three motions tabled by the activists, and said on Wednesday that it would not comment on protest plans, instead directing CNBC to its formal agenda. Yet Kampus suggested that just the process of submitting the motions itself had helped expand public and political awareness of the issues.

“From all sides, there is public pressure and also political pressure that the SNB needs to change things. At this moment, the SNB is really far behind in terms of their actions taken compared to other central banks,” Kampus told CNBC via telephone, adding that the SNB takes a “very conservative view” of its mandate regarding price stability and financial stability, which is “very narrow.”

The shareholders’ cause is also backed by a motion in parliament, with support from lawmakers ranging from the Green Party to the Centre [center-right party], which demands an extension of the SNB’s mandate to cover climate and environmental risks.

“While other central banks around the world are going well beyond the steps taken by the SNB in ​​this respect — the SNB has repeatedly taken the position that its mandate does not give it sufficient leeway to take climate risks fully into account in its decisions and monetary policy instruments,” reads the motion, filed on March 16 by Green Party lawmaker Delphine Klopfenstein Broggini.

“The present parliamentary initiative is intended to ensure this leeway and to make it clear that the SNB must take climate risks into account when conducting monetary policy.”

The motion argues that climate risks are “classified worldwide as significant financial risks that can endanger financial and price stability,” concluding that it is in “Switzerland’s overall interest that the SNB proactively address these issues” as other central banks are seeking to do.

Kampus and his fellow activists hope the national focus on the SNB after the Credit Suisse crisis provides fertile ground to advance concerns about climate risk, which he said poses a risk to the financial system that is “several times larger” than the potential fallout from Credit Suisse’s collapse.

“We feel that there is also a window of opportunity on the SNB side in that they maybe this time are a bit more humble, because they obviously also have done some things wrong in terms of the Credit Suisse crash,” Kampus said.

He noted that the central bank has always asserted that climate risk was incorporated into its models and that there was “no need for further exchange with the public of further transparency.”
Investor who predicted Credit Suisse decline says Swiss banking model is 'damaged'

“Very central to the SNB’s work is that the public just needs to trust them. Trust is something that is very important to the central bank, and to demand trust from the public without leading up to it or supporting it with further evidence that we can trust them in the long run is quite scary, especially when we don’t know what their climate model is,” he said.

The SNB has long argued that its passive investment strategy, which invests in global indexes, is part of its mandate to remain market neutral, and that it is not for the central bank to engage in climate policy. Activists hope mounting political pressure will eventually force a change in legislation to broaden the SNB’s mandate to accommodate climate and human rights as risks to financial and price stability.

UBS and Credit Suisse also faced protests from climate activists at their respective AGMs earlier this month over investment in fossil fuel companies.

Posted at 25/4/2023 08:11 by diesel
There have been some large trades, for SFR, these last three days, be interesting to see if this continues.
Posted at 19/3/2023 20:11 by waldron
UBS to take over Credit Suisse in historic $3.2bn rescue deal

Longtime Swiss rivals to merge as authorities scramble to calm loss of confidence
"This takeover was made possible with the support of the Swiss federal government, the Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank," the central bank said in a statement.

KATSUHIKO HARA, Nikkei Asia chief desk editor

March 20, 2023 03:42 JST
Updated on March 20, 2023 04:58 JST

NEW YORK -- UBS will take over Credit Suisse in a historic deal, leading to a consolidation of longtime rivals in the country.

The deal was announced Sunday by both banks as well as Swiss National Bank -- the central bank -- and Switzerland's financial authority.

"UBS today announced the takeover of Credit Suisse. This takeover was made possible with the support of the Swiss federal government, the Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank," the central bank said in a statement.

"Both banks have unrestricted access to the SNB's existing facilities, through which they can obtain liquidity from the SNB in accordance with the 'Guidelines on monetary policy instruments,'" the statement said.

To support the deal, the Swiss government will provide a loss guarantee of up to 9 billion Swiss francs ($9.72 billion). Swiss National Bank has agreed to offer 100 billion Swiss francs of liquidity backed by a federal default guarantee.

According to Credit Suisse's press release, all shareholders of the struggling bank will receive 1 share in domestic peer UBS for 22.48 shares in Credit Suisse as merger consideration. "This exchange ratio reflects a merger consideration of [3 billion Swiss francs, or $3.24 billion] for all shares in Credit Suisse," the bank said.

UBS will be the surviving entity upon closing of the merger transaction, the bank announcement said.

UBS, in its announcement, said the merger is expected to create a business with more than $5 trillion in total invested assets. UBS also said an annual run rate of cost reduction of more than $8 billion is expected by 2027.

FINMA, in announcing its approval of the merger, said, "The Credit Suisse Group is experiencing a crisis of confidence, which has manifested in considerable outflows of client funds. This was intensified by the upheavals in the U.S. banking market in March 2023."

"There was a risk of the bank becoming illiquid, even if it remained solvent, and it was necessary for the authorities to take action in order to prevent serious damage to the Swiss and international financial markets," FINMA added.

Swiss Finance Minister Karin Keller Sutter said in a news conference that she had been contacted by British and American colleagues expressing concern about the potential impact of turmoil surrounding Credit Suisse since the collapse of Silicon Valley Bank in the U.S.

Posted at 19/3/2023 19:43 by waldron

Credit Suisse: UBS finds deal to acquire troubled rival

An agreement shephered by Swiss authorities was found on Sunday for banking giant UBS to buy Credit Suisse, whose share price plummeted this week.

Le Monde with AP
Published on March 19, 2023 at 20h00

Time to 2 min.

Banking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday, March 18.

Swiss President Alain Berset, who did not specify the value of the deal, called the announcement "one of great breadth for the stability of international finance. An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system."

Credit Suisse is designated by the Financial Stability Board, an international body that monitors the global financial system, as one of the world’s globally systemic important banks. This means regulators believe its uncontrolled failure would lead to ripples throughout the financial system not unlike the collapse of Lehman Brothers 15 years ago.

Sunday's news conference follows the collapse of two large US banks last week that spurred a frantic, broad response from the US government to prevent any further bank panics. Still, global financial markets have been on edge since Credit Suisse's share price began plummeting this week.

The 167-year-old Credit Suisse already received a $50 billion (54 million Swiss francs) loan from the Swiss National Bank, which briefly caused a rally in the bank's stock price. Yet the move did not appear to be enough to stem an outflow of deposits, according to news reports.

Still, many of Credit Suisse's problems are unique and do not overlap with the weaknesses that brought down Silicon Valley Bank and Signature Bank, whose failures led to a significant rescue effort by the Federal Deposit Insurance Corporation and the Federal Reserve. As a result, their downfall does not necessarily signal the start of a financial crisis similar to what occurred in 2008.

The deal caps a highly volatile week for Credit Suisse, most notably on Wednesday when its shares plunged to a record low after its largest investor, the Saudi National Bank, said it wouldn't invest any more money into the bank to avoid tripping regulations that would kick in if its stake rose about 10%.
Read more Article réservé à nos abonnés Credit Suisse plummet forces Swiss regulators to quell stock market panic

On Friday, shares dropped 8% to close at 1.86 francs ($2) on the Swiss exchange. The stock has seen a long downward slide: It traded at more than 80 francs in 2007.

Its current troubles began after Credit Suisse reported on Tuesday that managers had identified "material weaknesses" in the bank’s internal controls on financial reporting as of the end of last year. That fanned fears that Credit Suisse would be the next domino to fall.

While smaller than its Swiss rival UBS, Credit Suisse still wields considerable influence, with $1.4 trillion assets under management. The firm has significant trading desks around the world, caters to the rich and wealthy through its wealth management business, and is a major advisor for global companies in mergers and acquisitions. Notably, Credit Suisse did not need government assistance in 2008 during the financial crisis, while UBS did.

Despite the banking turmoil, the European Central Bank on Thursday approved a large, half-percentage point increase in interest rates to try to curb stubbornly high inflation, saying Europe’s banking sector is "resilient," with strong finances.

ECB President Christine Lagarde said the banks "are in a completely different position from 2008" during the financial crisis, partly because of stricter government regulation.

The Swiss bank has been pushing to raise money from investors and roll out a new strategy to overcome an array of troubles, including bad bets on hedge funds, repeated shake-ups of its top management and a spying scandal involving UBS.

Le Monde with AP

Posted at 16/3/2023 06:27 by grupo guitarlumber
Swiss Franc Frazzled as Banking Woes Takes Hold. Is the Fed Pivot Here?
Mar 16, 2023 6:00 AM +01:00
Daniel McCarthy, Strategist
Swiss Franc, USD/CHF, Credit Suisse, SNB, ECB, RBA, NZD/USD - Talking Points

The Swiss Franc steadied today after the Swiss National Bank stepped in

Markets are left guessing where the blowtorch will next be applied

If risk aversion takes hold, will it change the central banks tightening cycle?

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The Swiss Franc is caught in a vortex between a banking crisis and a risk-off event as markets are asking questions of what the ramifications of the failure of three US banks will be.

Credit Suisse has been bailed out by the Swiss National Bank (SNB) today. They will provide up to CHF 50 billion of liquidity to the embattled investment bank and Credit Suisse will buy CHF 3 billion of their own debt.

Going into today, Credit Suisse’s 1-year credit default swaps, (CDS) the cost of insuring the banks’ debt, went from under 5% to 37%. The share price remains well below CHF 2. The high above CHF 80 in 2007 is but a distant memory.

The Franc is often seen as a haven in times of uncertainty, but currency traders are conflicted with a Swiss bank in the centre of the current crisis of confidence.

The emerging banking woes are less than a week old but the path ahead for rates has pivoted dramatically. The terminal rate for the Federal Reserve is now around 4.85%, a long way from over 5.90% seen last week.

Posted at 13/3/2023 11:00 by la forge
1 EUR = 0.9756 CHF

The Euro to Swiss Franc exchange rate (EUR CHF) as of 13 Mar 2023 at 10:59 AM.

SFR getting alittle stronger by the day

Posted at 07/3/2023 08:07 by maywillow

Swiss inflation rises due to air fares, rents and petrol

Prices rose last month due to air transport, package holidays, rents and petrol, the Federal Statistical Office said.

Consumer prices increased 3.4% in February from a year earlier, the Federal Statistical Office reported on Monday. This raises the possibility that the Swiss National Bank will raise interest rates this month.

This content was published on March 6, 2023

Consumer prices were up from 3.3% in January and well above the Swiss National Bank (SNB) target range for price stability, defined as between 0-2%.

Prices rose 0.7% month-on-month due to various factors, the FSO said.

“These include rising prices for air transport, package holidays and supplementary accommodation.

Housing rentals also recorded a price increase, as did petrol,” it said.

The central bank is due to announce its policy decision on March 23, with the market seeing a 91% probability of a 50 basis point increase from the current level of 1%, especially following recent weakening of the Swiss franc, which has helped limit price rises from costlier imports.

Posted at 10/10/2022 20:49 by tole this falling dividend-paying penny stock a must buy?This Fool takes a closer look at a penny stock with an enticing dividend yield, and believes it has defensive capabilities.Jabran Khan?Published 10 October, 4:35 pm BSTSFRShot of a young Black woman doing some paperwork in a modern officeImage source: Getty ImagesOne penny stock that has caught my eye recently is Severfield (LSE:SFR). It has some attractive fundamentals as well as some defensive capabilities, in my opinion. Should I buy the shares for long-term growth and returns? Let's take a closer look.Construction steelAs an introduction, Severfield is a steel designer, manufacturer, and installer for large-scale construction projects. Steelworks are essential in a lot of construction as they form the initial structure of any property being built. Severfield is one of the largest firms in its market and has an extensive presence throughout Europe too.So what's happening with Severfield shares currently? Well, as I write, they're trading for 50p, putting them in penny stock territory. At this time last year, the stock was trading for 65p. This equates to a 23% decline over a 12-month period.A penny stock with risks to considerI believe the Severfield share price has come under pressure due to macroeconomic headwinds. These include soaring inflation, the rising cost of materials, as well as a global supply chain crisis. All of these challenges could hinder its progress moving forward too. Rising costs eat into profit margins, which can affect investor sentiment and returns. The supply chain issues are impacting many firms and affecting product availability and performance.With the worldwide economy in a state of volatility, construction projects may be halted, or slowed down at least. This could have a detrimental impact on demand, which would in turn, affect Severfield's performance and level of return.The bull case and my verdictTo start with, I believe Severfield has some defensive traits. This is because of the essential nature of its core offering, steel works, and the role steel plays in virtually every construction project. No matter the project, some form of steel is required to help build the initial structure. Steel is as important as bricks and mortar. This should help boost performance and growth for a long time to come.Next, I can see Severfield shares would boost my passive income stream through dividend payments. At present, the dividend yield on offer is 6%. This is higher than the FTSE 100 and FTSE 250 averages of 3%-4% and 1.9% respectively. I am aware that dividends are never guaranteed, however. Furthermore, the shares look decent value for money right now on a price-to-earnings ratio of just 11.Finally, Severfield has a good track record of performance. I do understand that past performance is not a guarantee of the future. However, looking back, I can see it has grown revenue and profit for the past four years consecutively.Overall I like the look of Severfield shares. I will be adding them to my buy list for the next time I have some funds to invest. The fundamentals, such as performance track record, passive income opportunity, as well as the shares' value for money look good. Furthermore, I like Severfield's brand power and global presence. In fact, its exposure to the Indian market, which is experiencing an infrastructure and construction boom, should boost performance and growth in the coming years too.
Severfield share price data is direct from the London Stock Exchange
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