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Ahead of the FY26 result, Macquarie notes the blended OIS/BBSW rate forward curve, weighted for Computershare's geographic mix, is -4 basis points lower now compared to the curve at the first half result and 47 basis points higher for FY27.

The broker points out the margin income guidance from the company is based on the forward curve. Every 25 basis points movement in bond yields for the portfolio mix equates to a 2.5% impact on group EPS.

Other items to watch for will be the probability of no buyback, given implications for franking credits.

At current levels valuation is considered fair and Macquarie will watch equity and debt market volumes before becoming more bullish. Neutral rating. Target is raised to $38 from $36.

Citi rates GGP as Buy

June quarter production for Greatland Resources was better than expected at 79koz, some 8% above both Citi's and consensus forecasts.

FY26 production stands at 329koz, 6% above the top end of management's guidance range, while copper production for the quarter of 3.6kt contributed to FY26 copper output of 14.6kt.

Cash at quarter end stood at $1,289m, a rise of $81m on the prior quarter and was achieved the analyst notes post Havieron capex spend and a tax payment.

Buy rated with a $16 target.

UBS rates RIO as Neutral

UBS points to Rio Tinto has not yet announced any asset divestments as announced at the Dec 2025 capital markets day, albeit media reports infer the sale of the borates business is going well, while the sale of the titanium oxide business (RTIT) has been paused.

Borates is expected to achieve up to US$2bn with a swathe of interested parties. RTIT has been placed on hold due to geopolitical tensions with the most possible buyers being Chinese companies.

Management is also noted for being in discussions with Vitol to form a joint venture partnership for freight and logistics. The analyst estimates Rio spends $3bn p.a. on freight in the Pilbara and IOC. The partnerships with Vitol could be "meaningful" UBS states.

Rio announces 2Q production on Jul 15 and 1H2026 results on July 29. Neutral rated. Target $177.

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ANALYSIS & DATA

FNARENA'S MARKET CONSENSUS FORECASTS

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ANZ | ANZ GROUP HOLDINGS LIMITED

Abbreviated format - see the full version here

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$35.26 03 Jul 2026	0.470 OPEN $34.90	1.35% HIGH $35.44	2,720,610 LOW $34.77

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$35.26

03 Jul
2026

market green arrow 0.470

OPEN

$34.90

market green arrow 1.35%

HIGH

$35.44

2,720,610

LOW

$34.77

TARGET
$34.517-2.1% downside
Franking for last dividend paid out: 75%

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY24 Actual	FY25 Actual	FY26 Forecast	FY27 Forecast
EPS (cps)	xxx	198.2	246.7	xxx
DPS (cps)	xxx	166.0	166.8	xxx
EPS Growth	xxx	- 9.1%	24.5%	xxx
DPS Growth	xxx	0.0%	0.5%	xxx
PE Ratio	xxx	N/A	14.2	xxx
Dividend Yield	xxx	N/A	4.8%	xxx
Div Pay Ratio(%)	xxx	83.8%	67.6%	xxx

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Australia
07 July 2026 Updated : 09:42 AEDT
SPI Overnight
8813.00
+3.00
0.03%
NZ50
13811.500
+48.400
0.350%
All Ordinaries
9037.00
-11.30
-0.12%

S&P ASX 200
8831.00
-13.40
-0.15%
S&P ASX 300
8766.80
-12.30
-0.14%
Communication Services
1605.60
+3.10
0.19%
Consumer Discretionary
3931.10
+16.30
0.42%
Consumer Staples
13059.00
-78.80
-0.60%
Energy
9499.70
+42.30
0.45%
Financials
9370.30
-31.50
-0.34%
Health Care
27426.60
+406.00
1.50%
Industrials
8454.80
-15.00
-0.18%
Info Technology
1803.40
+16.60
0.93%
Materials
23908.00
-151.00
-0.63%
Real Estate
3636.30
+6.70
0.18%
Utilities
9252.30
-73.80
-0.79%
A-REITs
1691.60
+3.30
0.20%
All Technology Index
3032.50
+16.30
0.54%
Banks
3919.50
-15.60
-0.40%
Gold Index
16491.80
-94.60
-0.57%
Metals & Mining
8223.50
-51.80
-0.63%

Click item/line to change chart

Australasia
07 July 2026 Updated : 09:42 AEDT

AUD/USD
0.6959
+0.00
0.43%
AUD/NZD
1.2201
+0.00
0.01%
NZD/USD
0.5705
+0.00
0.44%
AUD/JPY
112.77
+0.27
0.24%
SGD/AUD
1.11
0.00
-0.25%
AUD/EUR
0.6081
+0.00
0.13%
AUD/GBP
0.5194
0.00
-0.06%
AUDCAD
0.9885
+0.00
0.25%
World
07 July 2026 Updated : 09:42 AEDT
CAD/USD
0.7040
+0.00
0.17%
EUR/JPY
185.44
+0.17
0.09%
EUR/USD
1.1445
+0.00
0.29%
GBP/USD
1.3397
+0.01
0.46%
USD/JPY
162.04
-0.31
-0.19%

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World
07 July 2026 Updated : 09:42 AEDT
FTSE100
10651.77
-27.26
-0.26%
DAX30
25817.89
+38.58
0.15%
Hang Seng
23616.32
+266.29
1.14%
Nikkei 225
69737.69
-6.38
-0.01%
NZ50
13811.500
+48.400
0.350%
DJIA
53055.91
+155.84
0.29%

S&P500
7537.43
+54.19
0.72%
Nasdaq Comp
26121.16
+288.49
1.12%
S&P500 VIX
15.57
-0.24
-1.52%
US 10-year yield
4.479
-0.006
-0.130%
USD Index
100.63
+0.01
0.01%
Aus Stocks
07 July 2026 Updated : 09:42 AEDT
Amcor (US)
44.62
-0.38
-0.84%
Newmont (US)
98.20
+1.16
1.20%
Rio Tinto (UK)
7036.00
-34.00
-0.48%
BHP Group (US)
83.64
+0.31
0.37%
Rio Tinto (US)
93.58
-0.84
-0.89%
ResMed (US)
218.40
+8.77
4.18%
South32 (UK)
218.80
+2.00
0.92%
James Hardie (US)
25.62
-0.19
-0.74%
Janus Henderson (US)
51.95
-0.02
-0.04%

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Metals & Minerals
07 July 2026 Updated : 07:19 AEDT
Gold (oz)
4176.05
-11.25
-0.27%
Silver (oz)
62.48
-0.33
-0.53%
Copper (lb)
6.2500
+0.03
0.42%
Aluminium (lb)
1.4116
+0.01
0.58%
Nickel (lb)
7.2890
-0.02
-0.31%
Zinc (lb)
1.6257
+0.02
0.94%
Copper (t)
13775.00
+57.30
0.42%
Aluminium (t)
3111.25
+17.95
0.58%
Nickel (t)
16065.00
-50.00
-0.31%
Zinc (t)
3583.15
+33.55
0.95%
Uranium (lb) weekly
85.00
0.00
0.00%
Iron Ore (t)
98.30
+0.05
0.05%
Energy
07 July 2026 Updated : 07:19 AEDT

West Texas Crude
68.60
-0.18
-0.26%
Brent Crude
72.06
-0.06
-0.08%