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UBS analyst Shreyas Patel has upgraded AMP Ltd's stock rating from 'Sell' to 'Neutral', adjusting the price target to AUD1.30 from AUD1.35. This change follows a significant 29% decline in the stock after disappointing February results, with signs of recovery in various business segments and moderated Wealth outflows. The potential realization of equity-accounted investments could enhance AMP's capital management strategy, indicating a more balanced risk-reward outlook for the company.
Asian stocks rebounded as muted US inflation reignited Federal Reserve rate cut bets, with the MSCI Asia Pacific Index ending a six-day decline. US equity contracts rose following a 1.1% increase in the S&P 500 Index, while the dollar stabilized after a recent drop. In China, semiconductor stocks gained as Premier Li Qiang emphasized innovation and infrastructure development, suggesting potential upside from policy easing despite concerns over US tariffs.
AMP Ltd. has made a historic investment of approximately A$27 million (around $17.2 million) in Bitcoin futures, becoming one of the first major Australian pension managers to embrace cryptocurrency. This cautious move, constituting about 0.05% of its total pension assets, reflects a shift in attitudes within the traditionally conservative sector, despite broader hesitance in the A$4.1 trillion Australian pension industry. AMP's Chief Investment Officer emphasized the importance of risk management and careful oversight in this evolving digital asset landscape.
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UBS upgrades AMP stock rating to neutral with revised price target
12:48 03.04.2025
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23:35 22.12.2024
Australia's AMP makes historic investment in Bitcoin futures worth 17 million dollars
11:30 13.12.2024
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