REA Group shares rose 1.1% to A$236.76 after UBS increased its price target to A$268, citing strong first-quarter results that exceeded market expectations. The company is poised for significant growth in FY25, with sales estimates for FY25-27 revised upwards by 2% on average. In contrast, smaller rival Domain Holdings saw a 1.9% decline in shares, highlighting REA's outperformance, particularly in Sydney and Melbourne.
REA Group shares rose 1.1% to A$236.76 after UBS upgraded its price target to A$268, citing solid Q1 results that exceeded market expectations. The brokerage anticipates continued growth for REA in FY25, while Morningstar noted the company's outperformance against Domain Holdings, particularly in Sydney and Melbourne.
Australian company REA Group, controlled by News Corp, saw a 1% increase in its stock price to A$236.63 following strong first-quarter results that exceeded market expectations. UBS raised its price target to A$268 and maintained a "buy" rating, anticipating solid growth for the remainder of fiscal 2025. The company's revenue estimates for fiscal years 2025-2027 have been revised upward by an average of 2%, with REA's stock up 29.3% year-to-date.
A leading UBS banker in Australia is focusing on assisting ultra-wealthy clients in making international investments. This role highlights the growing demand for expert financial guidance among affluent individuals seeking opportunities beyond domestic markets.
The Philippine peso is expected to rebound as overseas remittances surge ahead of the Christmas holidays, typically peaking in December. Historical data indicates that the peso has gained in the final quarter in six of the last seven years, with forecasts suggesting a rise of over 5% by year-end. Currently, the peso has declined nearly 4% this quarter.
Australia is poised for short-term economic challenges following Donald Trump's election, with Treasurer Jim Chalmers indicating potential reductions in output and increased inflation pressures. However, he noted that Australia's economic structure positions it to fare better than many other nations amidst these changes.
Investors in Asia are increasingly betting on stocks poised to benefit from Donald Trump’s potential return to the White House. Shares of Korean shipbuilders, Indian electronics manufacturers, Australian steel suppliers, and Vietnamese industrial parks have surged, driven by expectations of stricter global trade policies that could reshape supply chains and favor agile companies.
The dollar surged on Friday, marking its strongest weekly performance since June, driven by Donald Trump's return to the White House. The Bloomberg Dollar Spot Index rose by 0.8%, causing significant declines in major currencies, including a 1.1% drop in the euro to $1.0687, and at least 1% losses for the Norwegian krone, Swedish krona, and Australian and New Zealand dollars.
ANZ Group Holdings Ltd. CEO Shayne Elliott emphasizes the need for his successor to possess a strong sense of social responsibility as the bank addresses recent trading scandals. His bonus for fiscal year 2024 was reduced by A$1.1 million due to these issues, and he acknowledges that his nine-year tenure is nearing its conclusion.
US equity markets surged following a red sweep in the presidential election and a 25 basis point Fed rate cut, bringing the Federal Funds rate to 4.50%-4.75%. The ASX 200 also rose by approximately 2%, supported by US market trends, while the RBA maintained its rate at 4.35%. Key economic indicators are set for release next week, including US CPI and Australia's employment report.
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