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Polar Capital Holdings Plc acquired a new position in XPeng valued at approximately $6.6 million, with institutional investors owning 21.09% of the stock. XPeng, a Chinese electric vehicle manufacturer, has received mixed ratings from analysts, with a current consensus of "Moderate Buy" and an average price target of $22.02. The company's recent earnings report showed a loss of $0.19 per share, surpassing expectations, while revenue for the quarter was $2.21 billion.
The Australia 200 index is trading slightly higher at 7860, recovering from an intraday high of 7922 amid rising geopolitical tensions following Israel's airstrikes on Gaza. The upcoming jobs report is expected to show stable employment, likely keeping interest rates on hold. In the energy sector, Beach Energy and AGL Energy saw gains, while gold prices hit a record high, benefiting companies like Regis Resources. The banking sector experienced mixed results, and the materials sector remained steady despite fluctuations in coal and iron ore stocks.
Macquarie Group Limited, an Australia-based global financial services firm, is facing challenges in its fiscal Q3, which may jeopardize its full-year guidance, according to UBS. The company operates across various segments, including asset management, banking, commodities, and capital advisory, providing a wide range of financial solutions.
The ASX 200 rose 5 points (0.06%) to 8488 amid mixed reporting season results, with Seven West Media up 6.06% and CSL down 3.74%. Gold prices hit a record high of $2942, reflecting trade war uncertainties, while the NAB Business Confidence index improved to +4 in January. The index remains in a bullish trend, with support at 8380-8360.
AppLovin insiders sold 888,867 shares valued at $284.77 million in the last ninety days, with company ownership at 14.69%. Institutional investors hold 41.85% of the stock, and analysts have raised price targets, with UBS Group setting it at $440.00. The company reported a 38.6% revenue increase year-over-year, achieving $1.20 billion in the last quarter.
FMR LLC increased its stake in Spotify Technology by 23.4%, owning 1,567,818 shares valued at $577.8 million, while Two Sigma Advisers LP raised its position by 19.0% to 980,000 shares worth $361.2 million. Institutional investors hold 84.09% of Spotify's stock, which has a "Moderate Buy" rating and a consensus price target of $438.36. Recently, UBS Group raised its price target for Spotify from $485 to $540, indicating a potential upside of 10.25%.
The ASX 200 is trading 4 points lower at 8310 as caution prevails ahead of the Federal Open Market Committee meeting. Speculation about the Santa Claus rally is growing, with mixed performances across sectors; property and healthcare stocks gained, while big banks generally declined. The energy sector hit a three-year low before seeing some buying interest, and technical analysis suggests a potential rebound if the index remains above 8236.7.
Prime Capital Investment Advisors LLC and Arkadios Wealth Advisors have increased their stakes in Amcor, now owning 18,961 and 25,597 shares, respectively. Institutional investors hold 45.14% of the stock. Amcor has received a "strong-buy" upgrade from UBS Group, with a consensus rating of "Moderate Buy" and an average price target of $11.20.
The ASX 200 fell 19 points (-0.23%) to 8333, marking its lowest level in three weeks as markets reassessed the likelihood of an RBA interest rate cut in February following a strong November jobs report, which showed unemployment at 3.9%. The property and consumer discretionary sectors experienced notable declines, while the energy sector rebounded after crude oil prices rose above $70. Technical analysis indicates the index may close below a critical support level, potentially leading to further declines.
China's top leaders are preparing for the annual central economic work conference on December 11-12 to discuss the GDP growth target and stimulus measures amid economic challenges. While the 2025 growth target is expected to remain around 5%, persistent issues like a housing downturn and weak domestic consumption continue to pressure the economy. Recent stimulus efforts, including interest rate cuts and a $1.4 trillion debt relief package for local governments, aim to bolster growth, but trade tensions with the U.S. and potential tariffs from the incoming Trump administration pose additional risks.
Macquarie Group Limited
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xpeng secures new investments as analysts adjust stock ratings and price targets
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