Weekly Reports | 12:49 PM
This story features ASX LIMITED, and other companies. For more info SHARE ANALYSIS: ASX
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:
– From its early August low of 7628, the ASX200 has rallied over 5.3%, bringing it within -1.5% of the 8148 record high set earlier this month
-This upward movement has been characterised by a steady grind higher, suggesting a more sustainable trend compared to previous surges
-The materials sector snapped its six-day losing streak on bargain-hunting in big miners.
-The IT sector saw mixed results, with some companies like WiseTech Global and DroneShield posting gains, while others like Megaport experienced significant drops
-In the financial sector, major banks showed modest movements, with CBA and NAB slightly up, while Westpac and ANZ saw minor declines
-Investors are optimistic that the upcoming Federal Reserve Chair Powell’s remarks at Jackson Hole will signal a potential interest rate cut in September
-In contrast, the Reserve Bank of Australia’s (RBA) August board meeting minutes revealed a more hawkish stance, indicating interest rate cuts domestically are unlikely in the short term
Corporate news in the week that was:
-ASIC reportedly did not pursue insider trading allegations at the ASX ((ASX))
-Booktopia ((BKG)) has been sold to digiDirect
-James Hardie ((JHX)) is reportedly in the early stages of a potential U.S. acquisition
-Autosports Group ((ASG)) is buying Melbourne’s Stillwell Motor Group, which sells BMW and Ducati, for $55m
-Virgin Australia’s planned float has been delayed by about a year due to recent asset discussions with Regional Express Holdings ((REX))
-Mall landlord Vicinity Centres ((VCX)) has settled the $420m purchase of a half-stake in Perth’s Joondalup Shopping Centre, acquiring it from the Future Fund. Lendlease ((LLC)) owns the other 50%
-Up to -600 jobs to go at Bank of Queensland ((BOQ))
-Foxtel ((NWS)) ((TLS)) and its biggest sports rights partners face millions in damages after being accused of breaching US privacy laws using Meta’s tracking tools, the AFR reports
-Yancoal Australia ((YAL)) is focusing on acquiring Anglo American’s Queensland coal mines by retaining its $420m interim profit instead of paying dividends
-South Africa’s Aveng will spin out its Australia and New Zealand business McConnell Dowell for ASX listing in 2025
-ASIC is preparing to scrutinise data centre developer AirTrunk’s ((MQG)) ((GDC)) pending $20b sale as part of its investigation into private market transactions
-A troubled Bank of Queensland ((BOQ)) cuts -400 jobs
-IPH Ltd ((IPH)) to acquire Canada’s Bereskin & Parr for -$90m, funding it with a $100m placement and $25m share plan
-Australian Unity Office Property Fund ((AOF)) nears a delisting and windup, with a sale of its Canberra property imminent, leaving just one remaining asset
Next week at a glance:
-Monday August 26: US July durable goods
-Tuesday August 27: Japan PPI services; US August consumer confidence
-Wednesday August 28: Au July CPI; US MBA mortgage applications
-Thursday August 29: New Zealand, ANZ business confidence; Australia Private capex; US 2Q GDP; US initial jobless claims
-Friday August 30: New Zealand, ANZ consumer confidence; Australia July private sector credit; July retail sales; Japan August CPI, Europe August CPI; US July PCE
Corporate Calendar selection of upcoming earnings reports are shown.
Please visit the FNArena calendar for a more extensive list.
-Monday August 26: Earnings Reports, Bendigo and Adelaide Bank ((BEN)); Endeavour Group ((EDV)); Infomedia ((IFM)); NIB Holdings ((NHF)); Regal Partners ((RPL)); The Star Entertainment Group ((SGR)); Viva Energy Group ((VEA));
Ex-divs, Ansell ((ANN)) 32.67c; Aurizon Holdings ((AZJ)) 7.3c 60% franked; Challenger Financial ((CGF)) 13.5c, 100% franked; Netwealth Group ((NWL) 14c, 100% franked; Santos ((STO)) 19.35c
-Tuesday August 27: Earnings Reports, BHP Group ((BHP)); Coles Group ((COL)); Integral Diagnostics ((IDX)); Johns Lyng Group ((JLG)); Lovisa Holdings ((LOV)); Nanosonics ((NAN)); SiteMinder ((SDR)); Woodside Energy Group ((WDS)); Worley ((WOR))
Ex-divs. AGL Energy ((AGL)) 35c no franking; Coronado Global Resources ((CRN)) 0.54c, 100% franked
-Wednesday August 28: Earnings reports, APA Group ((APA)); Flight Centre Travel Group ((FLT)); Fortescue ((FMG)); Karoon Energy ((KAR)); Mineral Resources ((MIN)); Nine Entertainment ((NEC)); NextDC ((NXT)); Tabcorp Holdings ((TAH)); Woolworths Group ((WOW))
Ex-divs, Bell Financial Group ((BFG)) 4x, 100% franked; oOh!media ((OML)) 1.75c, 100% franked; Telstra Group ((TLS)) 9c, 100% franked; Treasury Wine Estates ((TWE)) 19c, 70% franked
-Thursday August 29: Earnings reports, Atlas Arteria ((ALX)); Bega Cheese ((BGA)); IGO Ltd ((IGO)); MedAdvisor ((MDR)); Perpetual ((PPT)); Qantas Airways ((QAN)); Steadfast Group ((SDF)); Sandfire Resources ((SFR)); Wesfarmers ((WES))
Ex-divs, Beach Energy ((BPT)) 2c, 100% franked; Evolution Mining ((EVN)) 2c, 100% franked; REA Group ((REA)) 102c, 100% franked
-Friday August 30: Earnings reports, APM Human Services International ((APM)); Boss Energy ((BOE)); Bubs Australia ((BUB)); Dicker Data ((DDR)); Downer EDI ((DOW)); Nickel Industries ((NIC)); Opthea ((OPT)); Ramsay Health Care ((RHC)); TPG Telecom ((TPG))
Ex-divs, Ampol ((ALD)) 60c, 100% franked; HiTech Group Australian ((HIT) 5c, 100% franked; Orora ((ORA)) 5c, no franking
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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CHARTS
For more info SHARE ANALYSIS: AGL - AGL ENERGY LIMITED
For more info SHARE ANALYSIS: ALD - AMPOL LIMITED
For more info SHARE ANALYSIS: ALX - ATLAS ARTERIA
For more info SHARE ANALYSIS: ANN - ANSELL LIMITED
For more info SHARE ANALYSIS: AOF - AUSTRALIAN UNITY OFFICE FUND
For more info SHARE ANALYSIS: APA - APA GROUP
For more info SHARE ANALYSIS: APM - APM HUMAN SERVICES INTERNATIONAL LIMITED
For more info SHARE ANALYSIS: ASG - AUTOSPORTS GROUP LIMITED
For more info SHARE ANALYSIS: ASX - ASX LIMITED
For more info SHARE ANALYSIS: AZJ - AURIZON HOLDINGS LIMITED
For more info SHARE ANALYSIS: BEN - BENDIGO & ADELAIDE BANK LIMITED
For more info SHARE ANALYSIS: BFG - BELL FINANCIAL GROUP LIMITED
For more info SHARE ANALYSIS: BGA - BEGA CHEESE LIMITED
For more info SHARE ANALYSIS: BHP - BHP GROUP LIMITED
For more info SHARE ANALYSIS: BKG - BOOKTOPIA GROUP LIMITED
For more info SHARE ANALYSIS: BOE - BOSS ENERGY LIMITED
For more info SHARE ANALYSIS: BOQ - BANK OF QUEENSLAND LIMITED
For more info SHARE ANALYSIS: BPT - BEACH ENERGY LIMITED
For more info SHARE ANALYSIS: BUB - BUBS AUSTRALIA LIMITED
For more info SHARE ANALYSIS: CGF - CHALLENGER LIMITED
For more info SHARE ANALYSIS: COL - COLES GROUP LIMITED
For more info SHARE ANALYSIS: CRN - CORONADO GLOBAL RESOURCES INC
For more info SHARE ANALYSIS: DDR - DICKER DATA LIMITED
For more info SHARE ANALYSIS: DOW - DOWNER EDI LIMITED
For more info SHARE ANALYSIS: EDV - ENDEAVOUR GROUP LIMITED
For more info SHARE ANALYSIS: EVN - EVOLUTION MINING LIMITED
For more info SHARE ANALYSIS: FLT - FLIGHT CENTRE TRAVEL GROUP LIMITED
For more info SHARE ANALYSIS: FMG - FORTESCUE LIMITED
For more info SHARE ANALYSIS: GDC - GLOBAL DATA CENTRE GROUP
For more info SHARE ANALYSIS: IDX - INTEGRAL DIAGNOSTICS LIMITED
For more info SHARE ANALYSIS: IFM - INFOMEDIA LIMITED
For more info SHARE ANALYSIS: IGO - IGO LIMITED
For more info SHARE ANALYSIS: IPH - IPH LIMITED
For more info SHARE ANALYSIS: JHX - JAMES HARDIE INDUSTRIES PLC
For more info SHARE ANALYSIS: JLG - JOHNS LYNG GROUP LIMITED
For more info SHARE ANALYSIS: KAR - KAROON ENERGY LIMITED
For more info SHARE ANALYSIS: LLC - LENDLEASE GROUP
For more info SHARE ANALYSIS: LOV - LOVISA HOLDINGS LIMITED
For more info SHARE ANALYSIS: MDR - MEDADVISOR LIMITED
For more info SHARE ANALYSIS: MIN - MINERAL RESOURCES LIMITED
For more info SHARE ANALYSIS: MQG - MACQUARIE GROUP LIMITED
For more info SHARE ANALYSIS: NAN - NANOSONICS LIMITED
For more info SHARE ANALYSIS: NEC - NINE ENTERTAINMENT CO. HOLDINGS LIMITED
For more info SHARE ANALYSIS: NHF - NIB HOLDINGS LIMITED
For more info SHARE ANALYSIS: NIC - NICKEL INDUSTRIES LIMITED
For more info SHARE ANALYSIS: NWS - NEWS CORPORATION
For more info SHARE ANALYSIS: NXT - NEXTDC LIMITED
For more info SHARE ANALYSIS: OML - OOH!MEDIA LIMITED
For more info SHARE ANALYSIS: OPT - OPTHEA LIMITED
For more info SHARE ANALYSIS: ORA - ORORA LIMITED
For more info SHARE ANALYSIS: PPT - PERPETUAL LIMITED
For more info SHARE ANALYSIS: QAN - QANTAS AIRWAYS LIMITED
For more info SHARE ANALYSIS: REA - REA GROUP LIMITED
For more info SHARE ANALYSIS: REX - REGIONAL EXPRESS HOLDINGS LIMITED
For more info SHARE ANALYSIS: RHC - RAMSAY HEALTH CARE LIMITED
For more info SHARE ANALYSIS: RPL - REGAL PARTNERS LIMITED
For more info SHARE ANALYSIS: SDF - STEADFAST GROUP LIMITED
For more info SHARE ANALYSIS: SDR - SITEMINDER LIMITED
For more info SHARE ANALYSIS: SFR - SANDFIRE RESOURCES LIMITED
For more info SHARE ANALYSIS: SGR - STAR ENTERTAINMENT GROUP LIMITED
For more info SHARE ANALYSIS: STO - SANTOS LIMITED
For more info SHARE ANALYSIS: TAH - TABCORP HOLDINGS LIMITED
For more info SHARE ANALYSIS: TLS - TELSTRA GROUP LIMITED
For more info SHARE ANALYSIS: TPG - TPG TELECOM LIMITED
For more info SHARE ANALYSIS: TWE - TREASURY WINE ESTATES LIMITED
For more info SHARE ANALYSIS: VCX - VICINITY CENTRES
For more info SHARE ANALYSIS: VEA - VIVA ENERGY GROUP LIMITED
For more info SHARE ANALYSIS: WDS - WOODSIDE ENERGY GROUP LIMITED
For more info SHARE ANALYSIS: WES - WESFARMERS LIMITED
For more info SHARE ANALYSIS: WOR - WORLEY LIMITED
For more info SHARE ANALYSIS: WOW - WOOLWORTHS GROUP LIMITED
For more info SHARE ANALYSIS: YAL - YANCOAL AUSTRALIA LIMITED