Latest news with #UBS
The Star
3 hours ago
- Business
- The Star
Global art market banking on new generation of collectors
The global art market is not immune to current economic and geopolitical tensions, and is counting on a new generation of collectors to revitalise the momentum. Some big transactions were concluded last week during Art Basel, the world's top contemporary art fair, notably by London's Annely Juda Fine Art gallery, which sold a David Hockney painting for between US$13mil and US$17mil, without disclosing the exact price. The David Zwirner gallery sold a sculpture by Ruth Asawa for US$9.5mil and a Gerhard Richter painting for US$6.8mil. However, prices did not reach the heights achieved in 2022, when the art market was in full swing. Back then, a sculpture by French-American artist Louise Bourgeois was purchased for US$40mil. "The market is certainly softer," Art Basel's chief executive Noah Horowitz told AFP, though major sales still happen at such fairs "despite, somehow, all that's going on in the world". Switzerland's biggest bank UBS and the research and consulting firm Arts Economics prepared a report for the fair. According to their estimates, the art market slowed in 2023, then fell by 12 percent globally in 2024, to US$57.5bil, with the decline particularly affecting works valued at more than US$10mil. The four-day Art Basel fair, which closed last Sunday, featured more than 280 galleries presenting works by around 4,000 artists. Photo: AFP "In the next six to 12 months, I don't see any changes on the horizon," said Hans Laenen, an art market specialist at insurer AXA XL. In a time of economic and geopolitical uncertainties, "investors are turning very strongly to gold", he told AFP. In the art sector, behaviour is "more conservative" among both buyers and sellers, who prefer to wait before putting works on the market in the current climate, he continues. "The number of transactions is increasing," but in "lower price segments," he noted. According to the insurance firm Hiscox, the number of lots sold for less than US$50,000 increased by 20 percent in auction houses in 2024, while very highly priced works saw a sharp drop, indicating a change in collector behaviour. New generation According to Jean Gazancon, chief executive of art insurer Arte Generali, a younger generation of collectors is entering the market. "We are insuring more and more 30-somethings for collections of 300,000, 500,000, or a million euros," he noted. "These are successful start-uppers, investment bankers, lawyers, or sometimes people who have inherited," and they begin their collections "very young", sometimes making "very radical" choices, he said. A view of Ukrainian painter Sana Shahmuradova Tanska's 'Zhai-Liza (Angel), 2024' at Gunia Nowik Gallery's booth at Art Basel on June 17. Photo: AFP UBS expects that trend to increase. According to its projections, an unprecedented wealth transfer will take place over the next 20 to 25 years with the general ageing of the population. Globally, around US$83tril in assets will change hands, it says, meaning "there's a whole new generation of collectors coming to the market with different buying patterns", said Eric Landolt, global co-head of the family advisory, art and collecting department at UBS. The four-day Art Basel fair, which closed last Sunday, featured more than 280 galleries presenting works by around 4,000 artists. It is a must for collectors, who can buy everything from Pablo Picasso paintings to very recent works. The Thaddaeus Ropac galleries notably offered a portrait of Pope Leo XIV by the Chinese-French artist Yan Pei-Ming. It also highlights young artists, such as Joyce Joumaa, 27, who jointly won the 2025 Baloise Art Prize for her work focusing on the energy crisis in Lebanon. - AFP
Yahoo
5 hours ago
- Business
- Yahoo
S&P 500 Bulls Roar as UBS Lifts Targets and EPS Estimates
June 27 - UBS has raised its year-end S&P 500 target to 6,200 and set a mid-2026 goal of 6,500. The strategists also raised their S&P 500 2025 EPS forecast to $265, implying about 6% growth, and bumped the 2026 estimate to $285, or roughly 7.5%. They said easing U.S.-China trade tensions and a tax-and-spending package in Congress should bolster corporate cash flows. Analysts at UBS expect the upcoming Q2 earnings season to hold up well, even as tariffs linger. They noted most large-cap firms have weathered earlier levies without major damage. UBS flagged potential volatility around the expiration of President Trump's reciprocal duties next month. They warned that goods hit by existing tariffs could push inflation higher and slow growth if costs pass through to consumers. The bank prefers communication services, financials, health care, information technology and utilities, citing their resilience and cash-flow strength. With the S&P near its all-time high, investors will be watching management commentary and guidance closely. The path for U.S. equities now hinges on tariff developments and second-quarter results. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
5 hours ago
- Business
- Yahoo
S&P 500 Bulls Roar as UBS Lifts Targets and EPS Estimates
June 27 - UBS has raised its year-end S&P 500 target to 6,200 and set a mid-2026 goal of 6,500. The strategists also raised their S&P 500 2025 EPS forecast to $265, implying about 6% growth, and bumped the 2026 estimate to $285, or roughly 7.5%. They said easing U.S.-China trade tensions and a tax-and-spending package in Congress should bolster corporate cash flows. Analysts at UBS expect the upcoming Q2 earnings season to hold up well, even as tariffs linger. They noted most large-cap firms have weathered earlier levies without major damage. UBS flagged potential volatility around the expiration of President Trump's reciprocal duties next month. They warned that goods hit by existing tariffs could push inflation higher and slow growth if costs pass through to consumers. The bank prefers communication services, financials, health care, information technology and utilities, citing their resilience and cash-flow strength. With the S&P near its all-time high, investors will be watching management commentary and guidance closely. The path for U.S. equities now hinges on tariff developments and second-quarter results. This article first appeared on GuruFocus. Sign in to access your portfolio
CNBC
17 hours ago
- Business
- CNBC
Yields on these income-producing assets can top 6%. Here are UBS' top picks in preferred securities
Long-term investors can find solid income in preferred securities, according to UBS. The assets, which have hybrid features of both stocks and bonds, have seen a muted performance so far this year, said Frank Sileo, senior fixed income strategist. Preferreds trade on exchanges like stocks, but also have par values and pay a stream of income. Similar to bonds, when the price of the preferred goes down, its yield moves higher. While spreads are tight, lack of competitive yield alternatives, banking sector fundamentals and supply-demand dynamics should remain supportive of the securities, Sileo said in a note Wednesday. Banks account for an estimated two thirds to three quarters of total preferred issuance , according to S & P Global. "For long-term investors, preferreds can provide high-quality, diverse, and durable portfolio income," Sileo wrote. Preferreds come in par values of $25 and $1,000, with the former sold to retail investors and the latter aimed at institutions. Many have long maturity dates or are perpetual, but they typically have "call dates," or points in time when they can be redeemed. UBS recommends investing in both preferred par values. The $25 par preferreds have underperformed so far this year, down 0.6% year to date, versus a 3.5% gain for $1,000 par preferreds, as of June 24, Sileo said. The performance of the lower-priced securities are somewhat more influenced by stock market trends, he noted. "This illustrates the importance of 'intra-sector diversification,'" Sileo said. "Adding USD 1,000 par preferreds may improve overall risk-adjusted performance by reducing return correlations with other sectors, including common stocks." Investors can also save on taxes compared to bonds since preferreds typically are taxed at capital gains rates, which are 0%, 15% or 20%, depending on your income. Here are some of Sileo's top picks in preferred securities in different strategies: conservative, moderate and aggressive. He uses yield-to-worst as a measure of income, which is the lowest estimated annualized yield among potential redemption date scenarios. Investors looking for broad market exposure can invest in exchange-traded funds. For example, the iShares Preferred and Income Securities ETF (PFF) has a 30-day SEC yield of 6.57% and 0.46% expense ratio. The Global X U.S. Preferred ETF (PFFD) has a 6.52% 30-day SEC yield and 0.23% expense ratio. However, the majority of the ETFs are indexed funds with limited or no exposure to $1,000 par preferreds, Sileo noted. "Given the diversity of investment choices within the preferred securities sector and the wide range of preferred ETFs, investors may consider a strategy that uses both single-security recommendations and ETF selections for a more tailored, customized investment solution," he said.
Yahoo
17 hours ago
- Business
- Yahoo
Mettler-Toledo price target raised to $1,260 from $1,200 at BofA
BofA raised the firm's price target on Mettler-Toledo (MTD) to $1,260 from $1,200 and keeps a Neutral rating on the shares. The firm is updating its price targets for stocks under its coverage in the Life Sciences & Diagnostic Tools, LSTs, sector, the analyst tells investors. The firm notes LSTs remain under pressure as uncertainty persists with the macro environment and U.S. government policies. Recent weeks, however, have seen some signs of improvement as tariff concerns have cools slightly, the firm adds. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on MTD: Disclaimer & DisclosureReport an Issue Mettler-Toledo initiated with an Overweight at Barclays Citi adds 'upside 90-day short-term view' on Mettler-Toledo MongoDB and Asana downgraded: Wall Street's top analyst calls UBS upgrades Mettler-Toledo to Buy into growth reacceleration UBS upgrades Mettler-Toledo to Buy ahead of growth reacceleration Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
