Australian retail sales rose by 0.6% in October, marking the third consecutive month of growth as consumer confidence improves ahead of potential interest rate cuts. This increase surpassed expectations of a 0.4% gain and follows a modest 0.1% rise in September, according to the Australian Bureau of Statistics.
George Clinical has appointed Tony Proctor, C.P.A., as Chief Financial Officer, bringing over 25 years of financial leadership experience. Proctor, who has held executive roles at Lexitas, Parexel, and Syneos Health, aims to enhance financial operations and support the company's growth strategy. CEO Mary Gunn expressed confidence that his expertise will drive exceptional value for customers globally.
The latest episode of Monocle's special series, supported by UBS, focuses on breaking barriers in economics and finance, featuring insights from Addition Wealth founder Ana Mahony and business leader Rania Anderson. This episode is part of a broader exploration of women's investment and economic empowerment, with additional content available in 'Konfekt's' winter issue.
01:00 02.12.2024
Charter Communications, Inc. will have its CEO, Christopher Winfrey, participate in the UBS Global Media and Communications Conference on December 10, 2024, at 11:15 a.m. ET in New York. A live webcast of the event will be available on Charter's investor relations website, with an archived version following the broadcast. Charter, a leading broadband connectivity company, serves over 58 million homes and businesses across 41 states under the Spectrum brand, offering a comprehensive range of residential and business services.
01:00 02.12.2024
The American Diabetes Association warns against the use of compounded versions of popular diabetes and weight loss drugs like Wegovy and Zepbound, citing concerns over safety, quality, and effectiveness. The organization urges healthcare professionals to adhere to approved formulations due to potential dosing errors and adverse events linked to compounded products. Amid ongoing shortages, the FDA has faced legal challenges regarding its enforcement of compounding regulations, complicating the landscape for these medications.
Asia-Pacific markets are poised for a mostly positive start as investors anticipate key economic data from Japan, South Korea, and China. China's manufacturing PMI for November rose to 50.3, surpassing expectations, while non-manufacturing PMI dipped to 50.0. In the U.S., the S&P 500 and Dow Jones reached new highs, buoyed by strong chip stocks and expectations of market deregulation under a potential second Trump administration.
UBS has downgraded Imdex Limited's stock rating from Buy to Neutral, raising the price target to AUD2.60 from AUD2.35. This change follows a 55% year-to-date increase in Imdex shares, which now trade at a one-year forward P/E ratio of 24, placing it at the mid-point of its historical range. Despite potential for significant earnings growth, the stock's recent performance has led to a more cautious outlook.
00:36 02.12.2024
UBS has downgraded Imdex Limited from Buy to Neutral, raising the price target from AUD 2.35 to AUD 2.60. This decision follows a 55% increase in Imdex shares this year, with the stock now trading at a mid-range P/E of 24, reflecting a more cautious outlook despite potential earnings growth.
00:35 02.12.2024
Oil prices rose slightly as the dollar weakened, with Brent crude around $72 a barrel and West Texas Intermediate above $68. Traders are focused on the upcoming OPEC+ meeting, which has been postponed by four days, following a 3% decline in prices last week.
UBS has upgraded Petronet LNG Ltd. to 'buy', raising the target price to Rs 400, driven by India's increasing LNG demand, projected to grow at 5.6% CAGR over the next three years. The company has secured five long-term LNG contracts starting in 2026, which will boost capacity by 4.2 MMTPA. With significant imports expected to meet 80-85% of the incremental gas demand, Petronet is well-positioned for growth, supported by terminal expansions and strong cash flow.
00:12 02.12.2024
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