2338 GMT - Macquarie serves up two contrarian ideas for investors as Australia's corporate-earnings season extends into its second week. It believes the market likely fears a CSL miss, given the pharmaceutical company's stock hasn't yet arrested a share-price slide that began in July and some analysts have cut forecasts. CSL's stock is down some 13% since July 23. "It should benefit from the lower AUD and pharma tends to outperform after RBA cuts," Macquarie says. Many economists expect Australia's central bank to cut interest rates this month, which would be the first time since inflation ran hot in the pandemic's aftermath. Macquarie is also bullish about property company Mirvac, saying it would also benefit from rate cuts. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 09, 2025 18:38 ET (23:38 GMT)
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