Sector Update: Financial
Market Chatter: UBS in Talks With 360 One WAM for Wealth Management JV
UBS Poll: Wealthy Investors Favor Harris, Business Owners Prefer Trump -- Barrons.com
Citi Maintains UBS Group(UBS.US) With Hold Rating, Raises Target Price to $32.45
Unusual Options Activity: WYNN, UBS and Others Attract Market Bets, WYNN V/OI Ratio Reaches 222.2
Commerzbank Board Hires UBS for Potential UniCredit Deal Advice
$100 Invested In This Stock 5 Years Ago Would Be Worth $300 Today
Fed Rate Cut Paves the Way for Banks to Exit Emergency Facility
UBS Group: Brent crude oil will rebound to over $80 per barrel.
ubs group analyst, Giovanni Staunovo, stated that oil traders are focusing on the slowdown in economic activity, but "moderate" supply growth "keeps the oil market in a state of undersupply". "Given that inventories are expected to continue to decline, we expect Brent to return to above $80 per barrel". Brent futures are currently trading at $73.84 per barrel. Production in Brazil is "noticeably weak" this year, and US crude oil supply growth is also slowing down. Due to the decrease in crude oil prices, US crude production will be sluggish next year, but will be supported by efficiency improvements and relief from inflation pressure. UBS no longer insists Brent crude will rise this year.
UBS Group: Downgrade oil price forecasts and target prices for the three major oil companies, with a preference for Sinopec among them.
UBS Group released a research report stating that it has adjusted the profit forecast for the 'Big Three Oil Companies,' expecting PetroChina (00857) to achieve profits of 69.3 billion, 68.4 billion, and 73 billion yuan for the fiscal years 2024 to 2026 respectively; for Sinopec (00386), the figures are 67 billion, 75.8 billion, and 84.8 billion yuan respectively; and for CNOOC (00883), the profits are projected to be 52.9 billion, 50.1 billion, and 54.2 billion yuan. They have also adjusted the target prices for the 'Big Three Oil Companies,' which includes lowering the target price of PetroChina from 10.4 Hong Kong dollars to 9.7 Hong Kong dollars; and lowering the target price of Sinopec from 6.6 Hong Kong dollars.
KKR's Pete Stavros Launches Group Promoting Stock Ownership for Employees
UBS Group AG (UBS): Hedge Funds Are Bullish On This Diversified Bank Stock Now
Spot gold breaks through $2640, hitting a new all-time high.
On September 24th, spot gold broke through $2640 per ounce, hitting a new historical high, with a 0.44% intraday increase. The UBS Group Wealth Management Investment Director's office believes that the rise in gold has not ended. The Federal Reserve's loose monetary policy, heightened geopolitical tensions, and continued diversification strategies of central banks around the world are all factors driving the rise in gold prices, hence still bullish on gold. Driven by institutional and ETF demand, it is expected that demand for gold will remain strong until next year. By mid-2025, the price of gold may reach $2700 per ounce. In addition to physical gold, investors can also consider structured strategies, ETFs, or gold reserves.
Meituan-W plans to issue USD preference notes.
Meituan-W (03690) has announced that the company proposes to only offer the notes internationally to professional investors. The completion of the proposed notes issuance is subject to market conditions and investor interest. As of the date of this announcement, the principal amount, interest rate, payment date, and other terms and conditions of the notes have not been determined. The pricing of the notes will be conducted through Goldman Sachs (Asia) Limited, Merrill Lynch (Asia Pacific) Limited, Morgan Stanley International Limited, and The Hongkong and Shanghai Banking Corporation Limited as the joint global coordinators, joint lead managers, and joint bookrunners.
UBS Loses $2.8 Billion Advisor Team to RBC Wealth Management -- Barrons.com
U.S. Commercial Banks Will Directly Benefit from the Rate Cuts. Here's How
FedEx Stock Is Plunging. Wall Street Says Stick With It, Mostly.
UBS Group: Maintains a "sell" rating on MTR Corporation with a target price of 21.6 Hong Kong dollars.
UBS Group released a research report stating that it gives a "sell" rating to MTR Corporation (00066) and expects the upcoming capital expenditure of the MTR Northern Link project to face upward pressure due to inflation. The target price for the next 12 months is HKD 21.6. The report states that yesterday, MTR Corporation signed a project agreement with the Hong Kong government (represented by the Secretary for Transport and Logistics) to determine the financing arrangements, design and construction, operation, and maintenance of the Hung Shui Kiu Station. Based on current prices, the estimated cost of the Hung Shui Kiu Station is around HKD 7 billion. The bank estimates that the reduction in land premium for this project is still lower than the premium paid by SHK PPT (00016) for the Fanling agricultural land in July.
UBS Group: Unexpected reduction in stamp duty is a "Mid-Autumn gift" for the Hong Kong property market. Bullish on Henderson Land and other developers benefiting.
UBS Group released a research report stating that the USA has officially entered an interest rate cut cycle. HSBC Hong Kong subsequently announced that it will follow suit and reduce the Hong Kong dollar's most favorable interest rate by 25 basis points, unexpectedly becoming a "Mid-Autumn Festival gift" for the Hong Kong property market, bringing bullish news. The interest rate on new first-hand residential mortgages will be reduced from 4.125% to 3.88%, which will help narrow the negative interest rate difference with rental roi. Based on the market's prediction of interest rate cuts in the USA in the next two years, UBS currently expects Hong Kong's mortgage interest rate for new properties to be reduced to 2.9% by the end of next year, further decreasing by 97 basis points from the current 3.88%. Assuming that the Hong Kong dollar's most favorable interest rate can be further reduced this year.
Smaller Banks Outshine Big Ones Post-Fed -- WSJ