Next Week At A Glance – 16-20 Nov 2026

This story features MAYNE PHARMA GROUP 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 enjoyed more gains this week, with macro signals continuing to point to an ongoing decline in Australia’s residential property market.

• As noted by CBA Economic Research, the value of new housing lending fell sharply in 3Q26, down -15.5%; a larger decline than both the bank and market had expected, as investor lending pulled back. The decline was the largest since records began in late 2002, with the annual rate reaching -18.1%.

• The Westpac-Melbourne Institute Consumer Sentiment Index fell -2.7% to 78.2 in November, a four-year low, while the NAB Business Survey showed confidence fell -1pt to -15. Forward orders dropped -11pts to -12, the weakest result since the pandemic, while capital expenditure intentions also declined.

• As explained by our Editor this week, Bell Potter and others are pointing to Australia being at or near the top of the rate-hiking cycle.

• Arguably, the growing tension for the RBA is the deterioration in consumer and business sentiment, alongside a sharp pullback in housing lending, notably from investors, which fell -32.3% in 3Q26 q/q. With the cash rate now at 4.85% after five hikes this year, the question is how much further the RBA can go in tackling inflation before the impact of higher rates becomes more pronounced across the broader economy.

• From a sector perspective, InfoTech, Energy, Materials, Industrials and Real Estate enjoyed a positive week, with rotation out of Industrials and Communication Services.

• Next week on the calendar are the November RBA meeting minutes and the 3Q26 Wage Price Index, as well as a suite of AGM updates and ongoing earnings reports. A general observation thus far is that management teams have indicated a 2H27 earnings skew.

• In contrast, the hotter-than-expected US October CPI print reversed a recent sell-off in the 10-year Treasury, with yields backing up once again to over 5%. Oil prices also reversed recent falls and moved higher.

• Fed Governor Christopher Waller said on 10 November 2026 that the Federal Reserve should consider a 50bp rate hike in December if inflation remained elevated, spurring further commentary around an outsized hike at the December meeting.

• The big news, however, lays at the feet of Jensen Huang and his spectacular own goal and fall from grace over an affair with an alleged Chinese spy, as well as a reported relationship with an Nvidia employee. Nvidia lost around -US$500bn in market capitalisation this week, but US markets have thus far weathered the storm, with investors rotating into rival chipmakers Broadcom and AMD.

• Anthropic is targeting a Nasdaq listing on 19 November 2026 (US time), at a potential valuation of around US$1trn–US$1.4trn, which could further set the tone on the AI-trade.

• With Microsoft Outlook down globally, Friday (the 13th) is noticeably quiet, summing up once again how 2026 continues to shape up as the year of unexpected events.

The team at FNArena wishes you a great weekend.

Corporate news in the week that was:

• Mayne Pharma ((MYX)) enters a binding $55.5m all-share agreement to divest its international operations to WA-based Evaris Pharma
• Warburg Pincus raises its takeover offer for Ingenia Communities ((INA)) to $5.60 cash per share, seeking to displace rival bidder AVID, subject to due diligence and matching rights
• NextDC ((NXT)) faces concerns over potential Amazon contract withdrawals following M3 Melbourne data centre delays, fuelling takeover speculation involving Goodman Group ((GMG)), Digital Realty, Brookfield and Blackstone
• Hanwha faces competition from Wildcat Infrastructure for Austal USA, with Wildcat’s indicative US$1.25bn–US$1.35bn offer exceeding Hanwha’s US$1.05bn–US$1.2bn proposal
• UPS moves towards exclusive negotiations to acquire Riverside-owned Smartways Logistics for approximately $600m
• PEP and Brookfield-owned Intellihub acquires Sydney-based Taggle, expanding into water metering beyond its core electricity metering operations
• Gordon Legal investigates a potential class action against NextDC ((NXT)) over alleged disclosure failures surrounding M3 delays and the company’s October earnings downgrade, including during the September $1.1bn convertible notes raising
• Victor Smorgon Group-backed Partnership Capital deploys $40m in equity across its first three acquisitions during its first year of operations
• AirTrunk abandons its proposed 140MW Lane Cove data centre, citing technical limitations, and shifts its development focus to larger projects at Kurri Kurri and Mickleham
• Gerry Harvey increases his stake in Pacific Lime and Cement ((PLA)) through an oversubscribed $50m capital raising, exceeding the original $40m target
• Potentia Capital explores strategic options for Nitro Software, acquired and taken private in 2023 at a $550m valuation, potentially paving the way for an exit
• Firmus seeks up to $3bn in private funding from Nvidia and spends $12.5m acquiring additional South Australian land for its proposed 1GW AI factory
• Codan ((CDA)) enters a binding agreement to acquire US-based Eventide Communications for -$244m
• Blackwattle Investment Partners acquires Sydney-based Quest Asset Partners
• Service Stream ((SSM)) acquires Programmed from Japan’s PERSOL for $975m, supported by a $475m equity raising comprising a $219m placement and $256m entitlement offer
• Goodman Group ((GMG)) and Digital Realty secure a 9.9% stake in NextDC ((NXT)) for approximately $693m; NextDC confirms no formal takeover proposal has been received
• Ashurst Perkins Coie forecasts fiercer Australian M&A auctions in 2027 as buyers compete for fewer targets, following a -61% decline in completed deal value to $25.7bn in 1H26
• MA Financial ((MAF)) subsidiary Redcape Hospitality acquires Orange’s Hotel Canobolas for approximately $40m in the year’s largest regional pub transaction
• Lendlease ((LLC)) faces a setback after the proposed sale of its 17.6% stake in Italy’s Milano Santa Giulia North project collapses, leaving six weeks to secure another buyer or face an additional $160m in costs
• Silver Lake explores a $1.5bn sale of Ticketek owner TEG Group through MA Moelis ((MAF)), approaching global buyers including CTS Eventim and AXS, amid a reported $1bn debt burden
• Pengana Capital ((PCG)) considers selling or consolidating smaller non-core funds and businesses while retaining its core listed equities, private equity and private credit operations
• Next Capital agrees to sell a 45% stake in TMX Transform to Quadrant Strategic Equity in a transaction valuing the supply chain consultancy at up to $400m
• Atlassian co-founder Scott Farquhar establishes a plan to sell up to 3.39m shares worth over US$500m, while Mike Cannon-Brookes plans to purchase up to US$250m
• ASIC launches a formal investigation into Bathla Group’s conduct before its collapse and warns of ongoing disclosure and transparency shortcomings across private credit funds
• Employment Hero rules out an ASX listing as annual recurring revenue rises $100m to $400m, while Seek’s ((SEK)) approximately 18% stake remains up for sale through Goldman Sachs
• AVID Property Group matches Warburg Pincus’ improved $5.60 per share takeover offer for Ingenia Communities ((INA)), with Warburg retaining due diligence access until 13 November
• Royal Bank of Canada agrees to acquire Yarra Capital Management, which manages around $18bn in assets, subject to regulatory approval
• Quadrant Private Equity prepares a $500m acquisition of Vision-ary, more than doubling the size of its Carlisle Health radiology business and expanding its presence across Queensland, NSW and Victoria
• Stockland ((SGP)) and MA Financial ((MAF)) emerge as frontrunners to acquire Cerberus-backed retirement living operator Lincoln Place
• Warburg Pincus and EQT submit final bids for Apax Partners’ $1.5bn sale of Pickles Auctions, with strategic buyer Copart potentially re-entering the process
• Igneo Infrastructure Partners and Palisade-backed Quantem considers a bid for ExxonMobil’s New Zealand fuel terminals business, valued at up to NZ$1bn
• Receivers begin selling Sydney development sites owned by collapsed developer Bathla, initially listing two properties with another four expected to follow as creditors seek to recover debts from the -$3.4bn collapse
• Generation Development Group ((GDG)) explores acquisitions of financial planning businesses within its existing client network as part of its growth strategy
• Auric Mining ((AWJ)) launches a $13m equity raising to fund the acquisition of WA’s Iron Maiden gold project and accelerate development of existing assets, with Canaccord Genuity, Taylor Collison and MA Moelis ((MAF)) managing the raising
• Chemist Warehouse co-founder Sam Gance sells 86.8m Sigma Healthcare ((SIG)) shares at $2.88 each in a $250m block trade, with further selldowns possible as founder escrow restrictions expire
• Sydney-based semiconductor developer Morse Micro prepares for a potential ASX IPO in 2027, holding $85m in cash despite an FY26 net loss of $45m and commercial revenue of $1.9m
• Anthropic targets a fully diluted valuation of up to US$1.4trn in its proposed IPO, seeking to raise up to US$90.4bn through a share offering and private placement backed by major technology companies including Google, Nvidia, Microsoft and TSMC
• Macquarie Group’s ((MQG)) asset management arm and Singapore’s GIC explore selling their combined one-third stake in Philippine geothermal energy company Energy Development Corp, potentially valued at US$2bn
• Brookfield acquires a fully leased 45,780sqm logistics facility in south-west Sydney from Goodman Group ((GMG)) for $203.5m, expanding its Australian industrial property portfolio
• Blackstone submits a revised non-binding $3 per share takeover proposal for IDP Education ((IEL)), with shares jumping 16% as the board considers the offer
• David Jones’ receivers plan to close 19 stores by year-end as part of an urgent restructuring, while former owner Anchorage Capital explores buying back the retailer through a Deed of Company Arrangement
• The ACCC raises preliminary competition concerns over Insurance Australia Group’s ((IAG)) $855m acquisition of RAC WA’s insurance business
• Rio Tinto ((RIO)) shortlists five bidders for its $7bn energy infrastructure portfolio, with Blackstone and Ares Management seeking to acquire the entire portfolio
• Gold Fields may sweeten its $36bn takeover proposal for Northern Star Resources ((NST)), with analysts suggesting a higher cash component could lift the offer to $31–$33 per share despite production setbacks at the Super Pit
• AirTrunk and European Energy Australia partner on a proposed $1.5bn, 800MW renewable energy and battery development in NSW’s Hunter region to support AirTrunk’s planned 550MW Kurri Kurri data centre campus
• Anthropic lodges its Australian prospectus, allowing retail investors to participate through local brokers, with CommSec ((CBA)) acting as lead Australian retail broker and Macquarie ((MQG)) also participating, ahead of the proposed Nasdaq listing later this month
• Fifth Estate Asset Management raises a new Australian small-cap fund capped at $250m, targeting undervalued companies and planning to commence investing from 1 December
• MA Financial Group ((MAF)) writes down its $2.2bn secured real estate loan fund by approximately -$40m, or -1.8%, amid weaker property conditions
• Majority Capital Partners proposes a $197m takeover of G8 Education ((GEM)) at 26c per share, a 160% premium
• TPG Capital emerges as a potential buyer of Altius Group, with Riverside seeking around $500m for the healthcare business through Macquarie Capital ((MQG))
• Orica ((ORI)) explores further acquisitions, potentially including a sizeable US mining chemicals business, as part of its international expansion strategy
• Ridley Corp ((RIC)) emerges as a potential acquirer of GrainCorp ((GNC)) following the latter’s $10.1m FY26 loss and leadership departures, including managing director Robert Spurway
• Morgan Stanley Infrastructure Partners advances the $1bn auction of New Zealand ferry operator StraitNZ, with Northleaf Capital
• EQT prepares to sell Icon Group, while GenesisCare appoints Jefferies to advise on a potential $1bn–$2bn sale, placing over $4bn of Australian cancer-care assets potentially on the market in 2027, with Jardine Matheson flagged as a possible buyer
• Xero ((XRO)) launches an on-market share buyback of up to $1bn over 12 months
• GrainCorp ((GNC)) completes $38m of its $75m on-market buyback and finalises the sale of GrainsConnect Canada
• Commonwealth Bank ((CBA)) takes possession of AEW Capital Management’s $175m Melbourne office tower following a financing default
• Many Peaks Minerals ((MPK)) launches a $60m equity raising to advance its Cote d’Ivoire gold project, appointing Canaccord Genuity as global bookrunner alongside Barrenjoey ((BJY)) and SCP Resource Finance as joint lead managers
• Paladin Energy ((PDN)) launches a $525m capital raising to support its uranium operations and longer-term production ambitions through to 2031

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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