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UBS anticipates the Australian dollar (AUD) will appreciate against the US dollar (USD) due to favorable growth prospects in Australia and China, alongside a supportive rate environment. The firm recommends long positions in AUD, particularly against the New Zealand dollar, while advising caution regarding potential US tariffs that could temporarily weaken AUD/USD below 0.60.
US pork exports reached a record 3.03 million tons in 2024, a 4% increase from the previous year, generating $6.83 billion in revenue. Notable growth occurred in shipments to Mexico, Central America, and the Asia-Pacific region, while beef exports slightly declined to 1.29 million tons, though revenues rose to $10.45 billion.
New Zealand's Financial Markets Authority (FMA) has identified 96 fraudulent trading platforms, including clones of Saxo Bank, IG Markets, and ATFX, targeting global investors. These scams create a facade of legitimacy, displaying artificial profits and denying withdrawal requests while demanding additional payments disguised as fees or taxes. The FMA warns investors to exercise extreme caution and continues to monitor the evolving landscape of these deceptive operations.
UBS analyst Marcus Curley has upgraded Air New Zealand's stock rating from Sell to Neutral, raising the price target to NZD0.63 from NZD0.52. The airline is expected to benefit from lower jet fuel prices and a strong balance sheet, although challenges such as engine maintenance and aircraft delivery delays may prolong its recovery to pre-COVID capacity levels until FY27. UBS's NPAT estimate for FY27 remains significantly below market consensus, reflecting ongoing operational hurdles.
UBS has raised its price target for Arthur J. Gallagher & Co. to $335 from $310 while maintaining a neutral rating. The company focuses on insurance brokerage services, with 85.7% of revenues from brokerage and 14.2% from risk management, primarily serving insurance and reinsurance firms. Geographically, 63.8% of revenues come from the United States, followed by the United Kingdom at 19.8%.
JB Hi-Fi reported a revenue of A$5.67 billion, marking a 9.9% year-over-year growth, with a net profit of A$285.4 million, up 8%. The interim dividend increased by 8% to A$0.70, driven by strong sales in January, particularly in New Zealand.Car Group achieved A$548 million in revenue, a 12% increase, and a net profit of A$292 million, reflecting a 9% growth, supported by expansions in Brazil and South Korea. In contrast, Pilbara Minerals anticipates an underlying net loss of A$5 million to A$7 million due to declining lithium prices, while Domino's is restructuring with store closures expected to save A$16 million annually from FY 2026.
Methanex Corporation is a leading producer and supplier of methanol, operating facilities across North America, South America, Europe, and Asia-Pacific. Key production sites include plants in Canada, Chile, Egypt, New Zealand, Trinidad and Tobago, and the United States, catering to diverse international markets.
UBS analyst Joshua Spector has raised the price target for Methanex shares from $53 to $66, maintaining a buy recommendation, as the company is expected to navigate a tightening methanol market despite anticipated price declines. Methanex's strong financial health and strategic positioning, particularly in the Americas and Europe, support this optimistic outlook, with analysts forecasting EBITDA growth above consensus for 2025 and 2026. Recent financial results showed adjusted EBITDA of $216 million and a net income of $1.21 per share, reflecting the company's solid performance amid market changes.
Pernod Ricard, the leading global producer of premium spirits and wines, reported net sales distribution with 61.8% from strategic international brands, including Absolut and Jameson. Local brands account for 18.2%, craft spirits 7.3%, and strategic wines 3.6%. Geographically, sales are split between Europe (28.3%), Americas (28.8%), and other regions (42.9%), with 94 production sites worldwide as of June 2024.
[Bloomberg]
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs forecasts australian dollar appreciation amid growth prospects and trade risks
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10:59 19.02.2025
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