Property firms, consumer staples likely to benefit from Australia's budget - UBS

Stockland

10/05/2023 03:56

** UBS says several ASX-listed stocks and sectors could
benefit from Australia's federal budget announced on Tuesday
    ** From measures aimed at aiding first home buyers, there
are positive readthroughs for property firms like CSR Ltd
 CSR.AX , Boral  BLD.AX , Domain Holdings Australia  DHG.AX ,
REA Group  REA.AX , Stockland Corp  SGP.AX  and Mirvac  MGR.AX 
- UBS
    ** Real estate sub-index  .AXRE  up 0.8%
    ** UBS says stocks that could be positively impacted by
measures aimed at supporting low-income households include
Domino's Pizza Enterprises  DMP.AX , Coles Group  COL.AX ,
Wesfarmers  WES.AX  and Super Retail Group  SUL.AX  
    ** Consumer staples sub-index  .AXSJ  down 0.4%
    ** Transportation, food production, healthcare, and
engineering/contracting sectors are all suffering from labour
shortages, and would be relieved to see policies that could
address this challenge: UBS
    ** Treasurer Jim Chalmers announced billions in
cost-of-living relief aimed at lowering power bills and consumer
prices
    ** Australia's benchmark index  .AXJO  down 0.1%

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))