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Westpac's financial results revealed a 3 basis point decline in net interest margins year-on-year, despite a 3% increase in total loans and a 7% rise in customer deposits to $697 billion. Operating expenses rose 6% due to technology investments, while credit impairments decreased. The bank's $3 billion digital transformation aims to modernize operations amid branch closures, but analysts suggest a 'hold' rating for shares, citing limited upside potential and concerns over market liquidity and economic conditions.
Morgan Stanley has rated Macquarie Group (MQG) as Equal-weight, following the sale of its North American and European public markets business to Nomura for approximately $2.8 billion in cash. This transaction enables Macquarie to concentrate on higher-growth alternatives, resulting in a $500 million gain and the release of around $1 billion in capital.The firm maintains a target price of $191 for MQG, which is currently trading at $180.83, indicating a potential return of about 5% if the target is met, excluding dividends, fees, and charges.
Oaktree Capital Management affiliates won a court case against minority investor Gary Marino, who, alongside JPMorgan Chase, sought to acquire a short-line railroad ultimately sold to Macquarie Group. A Delaware judge dismissed Marino's claims of unfair dealings, noting he could not prove damages or that he could have matched Macquarie's bid.
Morgan Stanley reports that Macquarie Group has achieved exceptional growth in deposits and mortgages, outperforming major Australian banks. The Commonwealth Bank of Australia has shown below-system growth in both areas, while Westpac has underperformed the market average. National Australia Bank exceeds industry benchmarks in household deposits but lags in mortgage growth, and ANZ matches the market in deposits but falls short in mortgages.
Gold prices have surged, with UBS raising its forecast to $3,200 per ounce amid ongoing trade tensions and market uncertainty. While gold has gained over 14% year-to-date, platinum has struggled, down 3.39%, as ETFs offload the metal. Analysts remain bullish on gold, citing strong demand and central bank purchases, despite potential risks from India's gold bond program and fluctuating investor sentiment in China.
Wells Fargo has initiated coverage of Independence Realty Trust (IRT) with an Overweight recommendation, projecting a 7.01% upside to an average price target of $22.40 per share. The company anticipates a 122.37% increase in annual revenue, reaching $1.424 billion, with a non-GAAP EPS of 0.48. Institutional ownership has risen, with 780 funds reporting positions, reflecting a bullish sentiment indicated by a put/call ratio of 0.79.
UBS has raised its gold price forecast to $3,200 per ounce by June, driven by increasing demand for safe-haven assets amid global trade tensions and economic uncertainty. The bank cites substantial inflows into gold-backed ETFs and robust central bank buying as key factors, alongside expectations of further interest rate cuts by the Federal Reserve. Other banks, including Macquarie Group and Goldman Sachs, have also upgraded their gold price outlooks, with projections reaching as high as $3,500 per ounce.
UBS has raised its gold price forecast to $3,200 per ounce, driven by increased demand for safe-haven assets amid global trade tensions and economic uncertainty. The bank anticipates this target could be reached within the next four quarters, supported by strong inflows into bullion-backed ETFs and central bank purchases exceeding 1,000 tonnes this year. Analysts from other major financial institutions also share a bullish outlook, with projections suggesting gold could rise even higher, reflecting ongoing geopolitical risks and economic slowdown fears.
Gold prices are on a strong upward trajectory, with UBS raising its price target to $3,200 per ounce, while Macquarie Group predicts a potential rise to $3,500 this year. The surge is attributed to increased investor and institutional demand for gold, driven by its lack of credit or counterparty risk.
UBS Group has raised its gold price forecast to $3,200 an ounce, anticipating increased demand for safe-haven assets amid global trade tensions. This adjustment follows gold's recent surge past $3,000, driven by factors such as US tariffs, strong ETF inflows, and central bank purchases, with expectations of over 1,000 tonnes by year-end. The bank also notes a deteriorating US economic outlook, prompting traders to expect further interest rate cuts.
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