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UBS has downgraded South32 from Buy to Neutral, lowering the target price to £1.90 from £2.10, following a strong performance against BHP. Despite a robust total return of 20.5% over the past year, analysts noted long-term growth challenges, particularly with the Hermosa project and resource depletion at Cannington. The company's current financial health remains solid, but projected cash returns are less attractive, with a free cash flow yield below the long-term average.
The Australia 200 index rose 38 points (0.48%) to 7957, poised for its best close in nearly two weeks, buoyed by supermarket stocks following ACCC findings. The real estate sector also gained amid expectations of an RBA rate cut in May, while the financial sector showed signs of recovery. Gold prices retreated from record highs, and Paladin's uranium operations were suspended due to heavy rainfall.
US stock markets showed mixed results as tariff concerns eased, while the Australia 200 index rebounded after four weeks of losses, supported by labor data suggesting a potential interest rate cut by the RBA in May. Key economic indicators included unchanged Fed rates, softer retail sales, and a surprising surge in US housing starts. In the UK, inflation rose to 3.0%, prompting the BoE to maintain rates, while Japan's BoJ held rates steady amid global uncertainties.
Barclays has adjusted its price target for Digital Realty Trust to $139 from $142 while maintaining an underweight rating. Digital Realty Trust, Inc. specializes in the development, ownership, and management of data centers, with a portfolio of 310 centers across various regions, including the U.S., Europe, and Latin America.
Big tech companies, including Apple, Meta, and Google, have formally complained to the Trump administration about Australia's media laws, labeling them as "coercive and discriminatory." They argue that the News Media Bargaining Incentive imposes unfair taxes on U.S. digital firms, costing them an estimated $140 million annually. The proposed requirements for U.S. online video providers to fund Australian content could further jeopardize their revenue in a market worth $2.3 billion.
BNP Paribas’ Securities Services has been selected by ProCapital, a subsidiary of Crédit Mutuel Arkéa, to provide a comprehensive suite of services across European markets, including custody, clearing, and securities lending. This partnership enhances ProCapital's operational efficiency through BNP Paribas’ integrated Execution-to-Custody solution, building on their existing collaboration in North America since 2021. Both companies emphasize their shared commitment to delivering high-quality service and client satisfaction.
Tesla shares fell nearly 2% to $231.71, with Piper Sandler analyst Alexander Potter maintaining an Overweight rating and setting a $450 price target, suggesting a potential 90% upside. Despite this optimism, Tesla's sales are struggling, particularly in China and Australia, with significant year-over-year declines. Increased competition from GM and Ford, along with a drop in used vehicle prices, adds to the challenges facing the company.
Vermilion Energy, with properties across Canada, the U.S., Europe, and Australia, has seen a shift in analyst ratings, now holding a "hold" status. Recent institutional trading includes Zurcher Kantonalbank reducing its stake by 32.1%, while other firms increased their positions. The company announced a quarterly dividend increase to $0.0903, reflecting a 4.51% yield, despite a negative payout ratio.
UBS Group AG has acquired a 6.27% voting stake in Ora Banda Mining, marking a significant investment that could influence the company's market position and stakeholder dynamics. This development, effective March 18, 2025, highlights UBS's growing interest in the gold mining sector, where Ora Banda focuses on exploration and development. The company currently boasts a market cap of A$2.13 billion and has seen a year-to-date price performance increase of 66.92%.
Nanosonics has seen a 14% increase in its share price following FDA approval, which has enhanced its credibility in the medtech sector. The company has upgraded its FY 2025 guidance due to strong sales growth and a favorable exchange rate, though investors should remain cautious about potential earnings instability. Monitoring the success of the CORIS system will be crucial for improving financial metrics.
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ubs downgrades south32 to neutral and lowers target price to 1.90
08:18 21.03.2025
Australia 200 rebounds as rate cut expectations boost supermarket and real estate stocks
Australian Dollar
N-able, Inc.
Westpac Banking Corp
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06:28 21.03.2025
us stock markets mixed as australia 200 rebounds amid economic concerns
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05:09 21.03.2025
barclays lowers price target for digital realty trust to 139 dollars
11:22 20.03.2025
big tech firms urge us to challenge australian media laws on trade grounds
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global banking services and regulations overview by BNP Paribas
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analyst maintains bullish outlook on tesla despite recent stock decline
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10:07 20.03.2025
vermillion energy announces dividend increase amid mixed analyst ratings
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08:36 20.03.2025
ubs group acquires significant stake in ora banda mining
07:52 20.03.2025
Nanosonics gains FDA approval boosting share price and financial outlook
05:46 20.03.2025
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