MARKETS SPECTATOR: Insurance bears

Macquarie has lowered its ratings for IAG and Suncorp's insurance businesses, calling an end to their excessive outperformance of the benchmark index.

Macquarie Group has downgraded a number of big names stocks this morning, especially in the insurance space.

The broker lowered its rating on Insurance Australia Group to neutral from outperform, despite lifting its target price slightly to $4.88 per share.

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