Weekly Reports | 12:12 PM
This story features MINERAL RESOURCES LIMITED, and other companies. For more info SHARE ANALYSIS: MIN
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 biggest event this year so far, the US Presidential election, passed without social unrest and delivered President-Elect Donald Trump a record win on many historical metrics, including a clean sweep of the House and Senate.
-US markets surged to new record highs, and bitcoin was swept up in the ride following suggestions made prior of the cryptocurrency becoming part of Federal Bank reserves.
-The ASX200 caught the bullish frenzy following the election before dropping on Thursday over tariff war concerns, then rallying on expectations China will increase stimulus to counter Trump tariffs.
-The Australian dollar was not immune to volatility as markets grappled with 2025 US tariffs, tax cuts, higher GDP growth versus higher inflation, against a level-headed Fed Chairman Powell who delivered another -25bps rate cut.
-The RBA stayed on hold, as expected, and fewer crowds attended the Melbourne Cup. Money markets have delayed the RBA’s first anticipated rate cut from May to July next year.
-The ASX200 put in a strong performance for the week, buoyed by positive US sentiment, despite the downbeat outlook for domestic earnings and rising concerns about how the Australian economy will be impacted by a Trump administration with unfettered power for two years until the next elections.
-Information Technology was the standout sector, rallying over 5%, followed by Industrials up 4%, and Financials rallying 3%, although ANZ Bank and NAB results were somewhat unremarkable, as was Westpac’s.
-Gold and oil prices were weaker, but speculation of an Israeli attack on Iran has started to circulate now the US election is over.
Have a great weekend, from your FNArena Team
Corporate news in the week that was:
-MinRes ((MIN)) paid 70% above market rates to rent properties owned by CEO Chris Ellison, according to independent valuations
-Kelsian Group ((KLS)) has secured a five-year extension for NT ferry services
-Rio Tinto ((RIO)) is eyeing a new deal in Mongolia (more copper)
-Data centre owner NextDC ((NXT)) has inked a loan of $2.9bn to refinance debt from a group of banks including CommBank, HSBC, NAB and RBC
-Domino’s Pizza ((DMP)) CEO Don Meij will retire after 22 years leading the pizza business
-Spartan Resources ((SPR)) sells two gold projects to Benz Mining ((BNZ)) for $15.6m
-Santos ((STO)) finalises sale of 2.6% PNG LNG stake to Kumul Petroleum
-Retail Food Group ((RFG)) acquires Cibo Espresso for -$2.7m
-Suncorp Group ((SUN)) has reaffirmed its underlying insurance trading ratio guidance for FY25 towards the top of the 10-12% range
-The AFR reports Australian firms, including Macquarie Group ((MQG)), are exploring investment opportunities in Japan as the country opens up to foreign capital, despite challenges in market entry
-CDC Data Centres is seeking capital partners with bids due by Christmas
-Neuren Pharmaceuticals ((NEU)) will get a third of the proceeds from selling an FDA priority review voucher awarded after its rare pediatric drug, Daybue, was approved
-Steadfast Group ((SDF)) is acquiring HW Wood and HWI France for -GBP23.5m
-Mayne Pharma ((MAY)) is considering delisting from the ASX
Next week at a glance
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/)
Find out why FNArena subscribers like the service so much: “Your Feedback (Thank You)” – Warning this story contains unashamedly positive feedback on the service provided.
FNArena is proud about its track record and past achievements: Ten Years On
Click to view our Glossary of Financial Terms
CHARTS
For more info SHARE ANALYSIS: BNZ - BENZ MINING CORP.
For more info SHARE ANALYSIS: DMP - DOMINO'S PIZZA ENTERPRISES LIMITED
For more info SHARE ANALYSIS: KLS - KELSIAN GROUP LIMITED
For more info SHARE ANALYSIS: MAY - MELBANA ENERGY LIMITED
For more info SHARE ANALYSIS: MIN - MINERAL RESOURCES LIMITED
For more info SHARE ANALYSIS: MQG - MACQUARIE GROUP LIMITED
For more info SHARE ANALYSIS: NEU - NEUREN PHARMACEUTICALS LIMITED
For more info SHARE ANALYSIS: NXT - NEXTDC LIMITED
For more info SHARE ANALYSIS: RFG - RETAIL FOOD GROUP LIMITED
For more info SHARE ANALYSIS: RIO - RIO TINTO LIMITED
For more info SHARE ANALYSIS: SDF - STEADFAST GROUP LIMITED
For more info SHARE ANALYSIS: SPR - SPARTAN RESOURCES LIMITED
For more info SHARE ANALYSIS: STO - SANTOS LIMITED
For more info SHARE ANALYSIS: SUN - SUNCORP GROUP LIMITED