STOCK MARKET REPORT by GRIMALDI & PARTNERS

MONTH REVIEW - MAY 2021

The international stock markets ended MAY with gains.

MAIN DRIVERS:

Hope for a strong economic recovery.

Particularly noticeable at EQUITY STOCKS LEVEL:

LOGITECH confirms increase in share buyback volume to USD 1 billion

Computer accessories maker Logitech has announced further details on the previously announced increase in its share buyback program. The company can now buy back its own shares up to a maximum amount of US $ 1 billion.

Logitech intends to use the repurchased shares to finance participation plans and any company acquisitions.

The buyback program began on July 27, 2020 and will run for a period of three years. Initially, however, a maximum buyback volume of 250 million US dollars was planned. Trading takes place at market conditions on the regular trading lines of SIX.

SWATCH GROUP - watch exports in April slightly above pre-Corona level

As expected, exports of Swiss watches soared in April compared to the previous year. At the time, they had collapsed at the height of the pandemic. The current figures are now above the pre-crisis level for the second month in a row.

Overall, watch exports in April amounted to 1.79 billion Swiss francs, according to the figures from the Federal Customs Administration on Thursday. This corresponds to an increase of almost five and a half times over the previous year. A year ago, due to the shutdown to contain the corona pandemic, only watches worth CHF 329 million were sold abroad.

The year-on-year comparison should continue to be positive over the next few months. Because even in May 2020, watch exports remained below the 1 billion franc mark before slowly recovering.

MONTH OUTLOOK - JUNE 2021

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STOCK RECOMMENDATION OF THE MONTH

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