Next Week At A Glance – 5-9 Oct 2026

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A brief look at important company events and economic data releases next week.

For a more comprehensive preview of next week’s events, please refer to “The Monday Report”, published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.

The week that was in Australian finance:

• The RBA rate hike seems almost an eternity ago, and it was only Tuesday. The ASX200 took the hike in its stride, with the market almost 100% positioned for a rise in the cash rate by 25bps to 4.6%.
• Wednesday delivered a softer-than-expected August CPI print, albeit, as Governor Bullock explained in her press conference, even the September quarter CPI print, when announced, will be in the rear-view mirror and of limited use.
• The Australian market rallied 124 points, or 1.4%, over the first three days of the week, with some cashed-up funds even doing some bottom fishing on Wednesday.
• All enthusiasm was dashed on Thursday, starting the month of October with a brutal -2% decline in the ASX200, some -175 points down.
• Australia remains exposed to multiple adverse headwinds, a case of pick your poison in 2026, but what is really causing ructions both at home and globally is the seemingly relentless rise in global bond yields.
• The US 10-year topped out at a 24-year high on Thursday at 5.34% and, as the global benchmark, is dragging global yields higher, supported by higher oil prices and inflation. Countries with large fiscal deficits are particularly exposed. Higher rates mean higher government debt-servicing payments and tighter financial conditions. Bottom line, none of this is good for markets.
• The US is somewhat different. The Administration has made no secret of wanting to run the economy “hot”, and the latest economic data reinforces that premise. But the US cannot contain the consequences within its own borders. Higher US yields effectively export tighter financial conditions to economies that do not necessarily share America’s growth momentum.
• There are multiple moving parts and levers to this story, far too many for our wee weekly updates. However, if bond vigilantes continue to push yields higher, one must question: at what point does something break?
• As the Bloomberg headline aptly stated, “Rising Yields Are Wreaking Havoc on Stocks Outside the AI Trade”.
• Australian investors can take some comfort — sort of — that ex-US Tech and Japan equities are under the pump. Even France is attracting comparisons with the European sovereign debt crisis.
• However, it is October, and all the share market crash comparisons are likely to appear soon. Rising bond yields were also part of the backdrop to the 1987 crash. For now, global strategists remain in the ‘garden variety’ -5% to -10% pullback camp for US equities in the run-up to the midterms.
• All eyes will remain on oil prices and global bond yields. Equities, for now, will dance to the tune of BOND?

The team at FNArena wishes you a great long weekend.

Corporate news in the week that was: 

• Healius ((HLS)) expects $155m in cash proceeds from the sale of Agilex Biolabs to TPG-controlled Novotech, sharpening its focus on its core pathology business
• La Caisse has hired Macquarie Capital ((MQG)) to sell its more than 10% stake in WestConnex, potentially triggering a major infrastructure ownership change and putting the spotlight on Transurban ((TCL))
• Warburg Pincus has submitted a third, higher takeover proposal for Ingenia Communities ((INA)) after the board rejected its previous $5.05 per share offer
• Dexus ((DXS)) has revived talks to acquire the $2bn Campus Living Villages student accommodation business
• Blackmagic co-founder Peter Barber reportedly sought to sell his stake at a valuation of around $1.5bn, but co-founder Grant Petty allegedly opposed bringing in another investor
• Westview Group is seeking Asian and North American equity partners and debt funding for its proposed $1bn Queensland steel plant
• RedEarth Energy Storage has entered voluntary administration after financial difficulties and rising Chinese imports derailed its planned ASX listing
• Firmus is preparing for its October 6 IPO bookbuild as bankers sound out investors ahead of the proposed $7bn float
• Cadence Asset Management has decided not to participate in the anticipated Firmus ASX IPO
• Colonial First State is avoiding Australian private credit amid concerns about exposure to property development following the Bathla collapse
• Brett Blundy-backed Dissh increased sales by more than 20% as it expanded its store network and targets further US growth
• Members of the Tzaneros family have reportedly borrowed $30m against their Point Piper property while ACFS remains in administration
• ‘Mirvac Group ((MGR)) is in talks to acquire two Brisbane build-to-rent properties from a Canadian pension fund
• Northern Star Resources ((NST)) has rejected a more than $36bn takeover proposal from South Africa’s Gold Fields, which remains open to discussions
• EQT has reconfirmed its $9.4bn takeover proposal for Cleanaway Waste Management ((CWY)) and is working towards an implementation deed following due diligence
• Warburg Pincus has raised its third takeover proposal for Ingenia Communities Group ((INA)) to $5.25 per share, subject to due diligence and other conditions
• Potentia Capital is running a sale process for software company Rex, with Gresham and RW Baird advising
• Alceon is assessing distressed Bathla land for potential acquisitions or new lending opportunities after exiting its $460m exposure in December
• Merchant Wealth Partners is investing $255.9m for a 25.9% stake in Soul Pattinsons’ ((SOL))-backed Ironbark Financial
• Metrics’ ((PNI)) three ASX-listed funds face material NTA downgrades after KPMG’s audit increased credit-loss provisions and reduced valuations for some private assets
• Chobani is investing $20m to expand its Melbourne factory into flavoured milk production
• Regal Partners’ ((RPL)) Phil King has promoted the Firmus IPO investment case to Morgans brokers ahead of the proposed listing
• REA Group ((REA)) will acquire a 35% stake in Distilled, owner of Irish property portal Daft.ie, for -$409m, expanding its property platform into Ireland
• Roc Partners has escalated its opposition to Pacific Current Group ((PAC))’s takeover, alleging the board failed to adequately disclose potential conflicts
• Firmus has pushed its IPO bookbuild back two days to October 8 after its Meta deal prompted a revision to IPO earnings guidance
• Afterpay co-founder Anthony Eisen has sold around $67m of Block ((XYZ)) shares as he reduces his exposure and focuses on new ventures
• Thoma Bravo has appointed Barrenjoey ((MFG)) and Goldman Sachs to prepare Nearmap for a potential ASX relisting in 2027
• HLEND has marked down its loan exposure to KKR-owned Laser Clinics Australia as restructuring and sale efforts continue
• Aerometrex ((AMX)) has appointed Moelis ((MAF)) as a defence adviser amid valuation concerns and ahead of rival Nearmap’s potential ASX return
• Metrics ((PNI)) has frozen redemptions from its circa $6bn wholesale private credit fund amid valuation and audit concerns
• Centuria Capital Group’s ((CNI)) private credit funds face further pressure from exposure to insolvent WST Property Group, adding to losses associated with Bathla
• Anthropic’s confidential IPO prospectus reportedly shows surging revenue alongside a US$8.1bn operating loss and substantial future infrastructure commitments
• OpenAI is approaching a US$70bn annual revenue run rate ahead of a potential IPO
• SkyCity Entertainment ((SKC)) has hired UBS to advise on ongoing takeover discussions after rejecting two unsolicited approaches last month, while preparing a formal sale process for its Adelaide casino
• APA Group ((APA)) has completed the acquisition of an 80% interest in CS Energy’s $1.3bn Brigalow peaking power project, committing around $1.02bn
• IFM Investors is undertaking early due diligence with Macquarie Capital ((MQG)) on a potential bid for Rio Tinto’s ((RIO)) circa-US$7bn mine-supporting power infrastructure portfolio
• Private equity veterans Chris Hadley and Clark Perkins, founders of Quadrant and Mercury respectively, have jointly acquired a 10% stake in dog food company Lyka
• Kelsian Group ((KLS)) has completed the $149.9m sale of its tourism portfolio to Journey Beyond, reducing debt and sharpening its focus on core transport operations
• Adamantem Capital is seeking investment bank advisers ahead of a planned sale of national cardiology provider Advara HeartCare
• Metrics Master Income Trust ((MXT)) and Metrics Income Opportunities Trust ((MOT)) remain under scrutiny after KPMG delayed the release of audited financial reports, with S&P placing four Metrics funds on CreditWatch and redemptions and distribution reinvestment plans suspended
• Firmus has appointed four joint lead managers for its planned $7.2bn ASX IPO, potentially generating around $215m in adviser fees
• InfraBuild has appointed Jefferies Australia to launch a formal refinancing process for around $750m of existing bonds
• Plato Investment Management ((PNI)) is reportedly preparing to short Firmus following its ASX listing
• AustralianSuper, Australian Retirement Trust and UniSuper reportedly have around $3bn invested in a gated Partners Group fund amid liquidity concerns
• Meta Platforms  has secured priority rights over a significant portion of Firmus’ planned AI factory capacity, strengthening the data centre operator’s upcoming IPO proposition
• Transurban ((TCL)) agrees to acquire CPPIB’s stakes in three Sydney toll road assets for -$4.5bn, increasing its ownership across key parts of its Sydney network
• Lynas Rare Earths ((LYC)) agrees to acquire Meteoric Resources ((MEI)) for -$968m, adding the Caldeira rare earths project in Brazil to its growth portfolio
• Ampol ((ALD)) agrees to acquire electric vehicle charging operator Evie Networks for -$225m, significantly expanding its national EV charging network
• KKR cancels $12.4m of Colonial First State executive equity as the wealth manager’s prolonged sale process continues
• Kent and Desley Walker acquire the North Sydney Hotel for almost -$30m
• PwC Australia acquires Advancy’s Australian due-diligence business, adding a six-person team focused on private equity clients
• Stockland ((SGP)), GIC and other major investors submit bids for Cerberus-owned land lease community operator Lincoln Place, which is expected to fetch around $1bn
• OD6 Metals ((OD6)) seeks $5m through a discounted share issue to fund drilling at its Nevada fluorspar project and is considering a US-focused rebrand
• GM Steel is seeking equity investors for a proposed Queensland steel plant, ahead of a planned $250m-$300m capital raising to fund construction
• Firmus reportedly prices its IPO at $11 per share, targeting a $7.2bn raising and valuation of around $44bn
• SharonAI secures US$356m of GPU-backed private debt to fund the expansion of its AI infrastructure

For a calendar of earnings result releases and a summary of earnings results to date, refer to FNArena’s Corporate Results Monitor (https://www.fnarena.com/index.php/reporting_season/)

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