Next Week At A Glance – 2-6 Nov 2026

This story features WESFARMERS LIMITED, and other companies.
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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 ASX200 has probably confused some investors over the past week, with the index gaining some 1.8%, now sitting -3.67% off its 52-week high, against a backdrop of high inflation and the market pricing in an RBA rate hike on Melbourne Cup Day.

• The RBA has been at pains over the last few weeks to stress that inflation is too high, and the September quarter data confirmed the trend, albeit it was largely as most economists expected.

• Major retailers have also been serving up underwhelming September quarter sales and margin updates, with October sales looking even softer. Consumer staples stalwarts also pointed to a moderation in growth over October, on the impact of higher prices as well as price discounting.

• Arguably, a grim picture for the consumer and the housing sector remains in place, as indicated by Wesfarmers’ ((WES)) Bunnings update. Yet, the Australian market continues to advance, led by Materials, Real Estate, Information Technology, Financials, Energy, Healthcare and Industrials this week.

• Conversely, Consumer Discretionary and Consumer Staples suffered the brunt of the selling, with Coles Group ((COL)) downgrading guidance and dragging down the latter sector.

• Over on Wall Street, Big Tech earnings have caused some hefty selling across AI and AI-adjacent stocks. Anthropic announced its IPO with much fanfare and equal scrutiny.

• The Federal Reserve kept interest rates on hold, with all and sundry expecting a rate rise in December.

• In the lead-up to Tuesday’s US midterms (EST), it is risk-off for Technology, and Australia has seemingly taken up the anti-AI trade mantle, despite the ‘bearish’ outlook on the macro environment.

• Markets are forward-looking, and maybe in spite of the RBA’s ‘hawkish’ stance and jawboning, investors are looking through the cycle to better times, 12 months down the track, as well as the relative underperformance of the domestic market.

• As to next week, well, that is probably anyone’s guess as to what happens when the US midterm results roll in on Wednesday, AEDT. Will it be popcorn time over contested results?

• Back home, the RBA meeting on Tuesday is also a potential market-moving event. At the same time, big banks are starting to report earnings. Westpac ((WBC)) is due on Monday, National Australia Bank ((NAB)) on Thursday and Macquarie Group ((MQG)) for 1H27 earnings on Friday.

The team at FNArena wishes you a great weekend.

Corporate news in the week that was:

• Steadfast Group ((SDF)) secures court approval for shareholders to vote on its proposed $6.7bn takeover by Dragoneer, Amwins Group and KKR on November 27, with completion targeted for December 22
• Wambo Cattle Company sells Queensland land to Singapore’s Zerra DC for a proposed $32bn data centre campus linked to Anthropic, with water access remaining a key development issue
• M Resources seeks Indonesia’s Widjaja family as a potential minority investor in its bid for Whyalla steelworks and associated iron ore mines, competing with India’s Jindal Steel International
• Singapore’s OUE REIT acquires a 50% stake in Sydney’s Salesforce Tower from China’s Ping An for $864m amid ongoing commercial office market weakness
• PAG reportedly targets a stake in Akaysha Energy in a potential transaction valuing the Australian battery storage business at over $3bn
• Warburg Pincus progresses its $2.1bn takeover of Ingenia Communities Group ((INA)), while considering the sale of $1bn in holiday park assets to G’day Group or Tasman Holiday Parks
• Healius ((HLS)) signals preparedness for potential takeover interest amid reports three private equity firms are assessing the company
• Apollo and GIC submit non-binding bids for Rio Tinto’s ((RIO)) $7bn Australian and Canadian energy infrastructure portfolio
• Tokio Marine reportedly pauses consideration of a potential takeover of Suncorp Group ((SUN)) following the insurer’s share price rally
• NRL moves to acquire the Novotel Sydney International Airport hotel from Charter Hall ((CHC)) for $115m, marking its sixth hotel acquisition and largest asset purchase
• AMP Ltd ((AMP)) explores private equity-backed funding for its bank loan portfolio to release capital and potentially facilitate a bank sale or broader takeover, with Insignia Financial ((IFL)) identified as a possible buyer
• Keyview Financial continues searching for an international capital partner, appointing Denison Partners and Berkshire Global Advisors to assess strategic growth options
• Rio Tinto ((RIO)) plans to invest US$1.9bn in Queensland’s Kangwinan bauxite project
• Firmus reportedly parts ways with lobbyist Eamonn Fitzpatrick following the collapse of its proposed $44bn IPO
• Megaport ((MP1)) reportedly considers a capital raising amid heightened volatility in AI and data centre infrastructure stocks following Firmus’ failed IPO and NextDC’s ((NXT)) valuation decline
• Eagers Automotive ((APE)) moves to acquire full ownership of its BYD retail joint venture, EV Dealer Group, in a binding transaction expected to be 5%–5.5% earnings accretive
• Dyno Nobel ((DNL)) suspends its share buyback, fuelling speculation over potential European acquisitions or US military-related deals
• AGL Energy ((AGL)) reportedly nears a renewable energy pipeline funding agreement with Morrison, while separate takeover and infrastructure asset-sale speculation remains unconfirmed
• Canadian pension fund OMERS acquires an indirect minority stake in $3bn non-bank lender La Trobe Financial through a Brookfield-managed fund, following the shelving of La Trobe’s planned IPO
• Anthropic files for a Nasdaq IPO under ticker ANT, with Goldman Sachs and Morgan Stanley leading the offering and a potential listing targeted for the week commencing 16 November. Macquarie Capital ((MQG)) has a supporting role.
• David Jones faces mounting solvency concerns, with lender Hilco Global preparing potential restructuring support and advisers McGrathNicol and Clifford Chance reportedly engaged
• Bathla Group’s collapse leaves private credit lenders seeking exits from at least $3.4bn in reported loans, with administrators removing founder Bhart Bhushan and his brothers from management
• Mining equipment business National Group nears a $200m refinancing to repay existing lenders Deutsche Bank, SeaTown Holdings, Wingate and Balmain
• Brookfield-owned Neoen commits a further $10bn to Australian wind, solar and battery projects by 2030, more than doubling its investment in Australia since 2012
• Woodside Energy ((WDS)) agrees to sell its 33.44% stake in the Greater Sunrise gas project to Timor-Leste’s TIMOR GAP for up to US$200m, prioritising nearer-term production and cash flow
• Octopus agrees to acquire Victoria’s Golden Plains Wind Farm 2 for over $2bn, backed by international pension investors
• PAG may revisit the sale of Oporto and Chicken Treat owner Craveable Brands after total comprehensive income rose to $25.9m despite declining revenue
• Superhero acquires a 10% stake in Raiz Invest ((RZI)), strengthening its position in Australia’s digital investment market
• UniSuper reportedly holds up to 0.5% of Firmus’ pre-IPO shares despite CIO John Pearce publicly criticising the neocloud’s failed $44bn float
• AirTrunk secures a $4.25bn green loan from 32 financial institutions for its western Sydney data centre, lifting global committed debt financing to approximately $38.4bn
• National Reconstruction Fund Corporation commits up to $110m in senior debt financing for Victoria’s Donald rare earths project
• Turaco Gold ((TCG)) seeks to raise $105m through a discounted placement to fund an increased stake in a Cote d’Ivoire gold project
• CommBank ((CBA)) faces a potential $3bn valuation on its original $153m Anthropic investment ahead of the proposed IPO, although escrow restrictions and a preference to retain exposure may limit any sell-down
• CommBank’s ((CBA)) CommSec prepares to market Anthropic’s proposed $2.85trn IPO to Australian retail investors
• Advent International raises US$30bn across flagship and mid-market private equity funds as it expands in Asia-Pacific, following its majority investment in New Zealand’s NZCR Group
• Warburg Pincus raises its takeover offer for Ingenia Communities ((INA)) to $5.45 per security, trumping AVID Property Group’s competing $5.35 proposal
• Frasers Group declares its 65c per share hostile takeover offer for Accent Group ((AX1)) best and final, with the offer scheduled to close on January 29, 2027
• Pemba Capital-backed Sequana acquires UK infrastructure advisory firm INFRACO, expanding its international operations to 300 staff and more than $80m in annual revenue
• Gold Fields lobbies Northern Star Resources ((NST)) shareholders to support its proposed $36bn merger
• Japan’s Daiichi Life is expected to increase its takeover proposal for Challenger ((CGF)) towards $13 per share, potentially valuing the group at approximately $8.8bn
• Hilco Capital provides David Jones with $10m in emergency financing to fund inventory purchases ahead of Christmas trading
• Stonepeak secures $55m in cornerstone commitments for a proposed $100m ASX-listed debt investment trust, targeting a December listing
• ·Storage Investments Australia prepares a $125m capital raising and launches a $200m fund to expand its Roomia self-storage network
• Charter Hall ((CHC)) prepares to launch a new ASX-listed REIT before Christmas, targeting a capital raising exceeding $100m and a 7% dividend yield
• Ingenia Communities ((INA)) denies knowledge of a third bidder as it considers competing takeover proposals from Warburg Pincus and AVID, with no certainty a transaction will proceed
• CECEP Wind Power and Goldwind seek buyers for their White Rock Wind Farm in NSW, with a potential sale valued at more than $450m
• Adamantem Capital appoints bankers to explore the sale of cardiology provider Advara HeartCare amid increasing healthcare M&A activity
• Capital Partners explores a potential sale of David Jones, with retail billionaire Brett Blundy among possible buyers
• Sam Arnaout moves to secure control of Cairns Reef Hotel Casino through a near-$200m takeover of the remaining interest in Reef Casino Trust ((RCT))
• Pacific National’s proposed $6bn sale stalls as shareholders insist on a whole-of-business transaction, potentially excluding bidders interested in individual divisions
• Former Cue executive Justin Levis and billionaire Larry Kestelman emerge as potential buyers for Cue Clothing and Veronika Maine as receivers assess offers
• ASIC continues targeted inquiries into JPMorgan, Morgan Stanley, Bank of America and Morgans Financial over their roles as joint lead managers of Firmus’ cancelled IPO
• Funds raised through iPartners for business lender Marketlend reportedly flowed to related company Electricity Wizard, now in liquidation, raising questions over valuations and related-party transactions
• Star Entertainment ((SGR)) confirms its WhiteHawk Capital Partners credit facility remains available after accepting a $260m Federal Court penalty for anti-money laundering breaches
• Tribeca-backed Cyprium Metals ((CYM)) seeks $25m in equity and US$40m in debt to fund redevelopment of its Nifty copper mine in Western Australia
• Firmus founders reportedly pledge their entire shareholdings to support up to $10bn in financing as the AI infrastructure company seeks private capital following cancellation of its proposed $44bn ASX IPO
• Metrics’ ((PNI)) $8.25bn wholesale senior loan fund faces $904m in redemption requests, declining cash reserves and rising loan provisions amid concerns over Australian private credit and property exposure

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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