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Zenith Energy has expanded its lender line-up by securing deals with Deutsche Bank, MUFG, Société Générale, Royal Bank of Canada, Bank of China, Canadian Imperial Bank of Commerce, and Export Finance Australia. With nearly $4 billion in assets under management, executives indicate they are in advanced stages on several investments.
Shares of Medibank Private surged to a record high of A$4.50, rising 3.9% before closing up 2.8%. UBS raised its price target for the insurer to A$4.90, citing potential for margin growth as premium rate increases are expected to outpace inflation through FY26E. Currently, three analysts rate the stock "buy" while seven hold, with a median price target of A$4.46. The stock has gained 17.9% this year.
UBS has raised its price target for Coles Group shares to A$22.35 from A$19.50, maintaining a 'Buy' rating, following stronger-than-expected half-year earnings. Coles reported a net profit of A$576 million, benefiting from holiday shopping and a strike at rival Woolworths. Currently, six of 15 analysts recommend buying the stock, while it closed down 2% at A$19.98.
US stock markets declined amid Nvidia's disappointing earnings and new tariffs announced by President Trump, contributing to a 3.86% drop in the Australia 200 index for March. Economic indicators showed a rise in jobless claims and a fall in consumer confidence, while Australia’s GDP growth is projected to slow. Key upcoming data releases include Australia's GDP and the ECB's interest rate decision, with expectations for further rate cuts amid economic challenges.
AUD/USD has retraced below its January high, hitting a low of $0.6286, with the next support at the 55-day SMA of $0.6262. Meanwhile, EUR/JPY is testing support levels, and USD/JPY has stabilized after a drop to ¥148.57, with potential resistance at ¥150.93. Global uncertainty over US tariffs continues to weigh on these currency pairs.
The US's trade surplus with Australia has shielded Australian agricultural exports from new tariffs, according to Rabobank. While Australia enjoys a favorable trade balance, the US remains a crucial market for its beef, lamb, and wine, with potential tariffs posing risks to these sectors. The report outlines nine waves of US tariffs impacting global food and agriculture, highlighting significant disruptions for countries with trade deficits with the US.
The ASX 200 rose 21 points (0.25%) to 8261 amid a calmer session following Nvidia's Q4 earnings report, which disappointed investors as shares fell 1.5%. The index is down 3.12% for February, primarily due to poor earnings in the financial, healthcare, and IT sectors, while defensive sectors like consumer staples and utilities gained. Key earnings reports are expected from Life360, Star Entertainment, TPG, and Harvey Norman tomorrow.
Tariff tensions and declining consumer confidence are raising concerns about a potential market correction, particularly in the tech sector, which is showing vulnerability amid budget cut fears. Major retailers like Walmart are signaling a challenging environment, while gold sees profit-taking after a strong run. Bitcoin has also broken below key support levels, reflecting deteriorating risk sentiment and excessive market enthusiasm.
Deutsche Bank has closed its short EUR/USD position due to political developments in Germany, while Citi and BNP Paribas remain bearish on the euro. Citi initiated a short position at 1.0467, citing political uncertainty and trade headwinds, while BNP Paribas recommended a short EUR/AUD position, highlighting stronger fundamentals in Australia.
Cost of living pressures are impacting ASX-listed companies, with Wesfarmers benefiting from the RBA's recent rate cut, although domestic cost challenges persist. Meanwhile, Guzman y Gomez and Inghams report positive sales growth despite economic headwinds, with expectations for improved consumer sentiment as rate cuts continue. Analysts suggest holding Wesfarmers and Inghams stocks, while Guzman y Gomez shows potential for further upside.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
zenith energy expands lender partnerships with major global financial institutions
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