Next Week At A Glance – 22-24 Apr 2025

This story features BANK OF QUEENSLAND LIMITED, and other companies. For more info SHARE ANALYSIS: BOQ

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 rallied around 1% over the last five days but remains down around -4.5% for the year-to-date.
The materials sector was the top performer, rising around 2.7% over the last five days, with the energy sector responding to a higher overnight crude oil price and rallies over 3% on the last day of the shortened week.

-This contrasts with investor concerns over slowing global growth from the trade war, which has pushed down the ASX200 energy sector by -12% for the last month and the materials sector by over -5%.

-The financial sector continued to find favour this week, lifting almost 2%, following the positive earnings reports from US banks in the last week, and a better-than-expected first-half earnings report from Bank of Queensland ((BOQ)).

-The gold price reached another record high, US$3,357.60, as the risk-off sentiment saw ongoing weakness in the US dollar and favour for the safe-haven trade. Gold shares were well bid, with the majors like Evolution Mining ((EVN)), Newmont Corp ((NEM)) and Northern Star Resources ((NST)) all trading at or above 52-week price highs.

-Information technology and the healthcare sector experienced selling pressures as possible tariffs on semiconductors and the pharmaceutical industry remain in the Trump Administration’s line of sight. Both sectors fell over -1% this week. Next week, ResMed ((RMD)) is due to report March quarter results, which may shine a light on just how defensive the company’s earnings are in response to declining US consumer sentiment.

-The Australian economy added 32.2k jobs in March, which was below market expectations for a 40k gain, and the unemployment rate moved higher to 4.1% from a revised low of 4% in February.

-According to Tony Sycamore, IG, “given the downside risks to global growth and softer near-term inflation profile, we expect the RBA to look through today’s jobs data and cut rates by -25bp at its meetings in May and in July.”

-The Australian interest rate market is pricing in -31bps of RBA cuts for May and a cumulative -122bps of RBA rate cuts this year.

Have a great long weekend, from the FNArena Team

Corporate news in the week that was:

-Bluescope Steel ((BSL)) estimates a repair bill for Whyalla steelworks of $180m, challenging site plans.

-Neuren Pharmaceuticals ((NEU)) received US Food and Drug Administration approval for the endpoints of its phase 3 trial of drug NNZ-2591.

-DroneShield  ((DRO)) secured five repeat contracts from a “close military ally of Australia in the Asia-Pacific region” worth $32.2 million.

-EBR Systems ((EBR)) received US Food and Drug Administration approval for its cardiovascular device in a milestone.

-Botanix Pharmaceuticals ((BOT)) raised $40 million via an equity issue at 33c per share.

-Bellevue Gold ((BGL)) raises $156.5m, the COO quits and the company starts a strategic review.

-Aristocrat Leisure ((ALL)) is negotiating to acquire Interblock, a leading electronic table gaming company, for about $1bn

Robex launches $120m IPO to fund Guinea’s Kiniero gold project, offering shares at a -14.8% discount

 Collins Foods ((CKF)) exits Taco Bell, flags impairments, shifts focus to KFC growth in Germany amid leadership changes

 Accent Group ((AX1)) to launch Sports Direct in A&NZ via 25-year Frasers deal, expanding sports retail and brand access.

 Westpac ((WBC)) and CommBank ((CBA)) are under fire for a $500m “sustainability-linked” loan to salmon farmer Tassal, accused of greenwashing while fuelling environmental damage in Tasmania’s Macquarie Harbour.

-ASIC has transitioned its inquiry into WiseTech Global ((WTC)) founder Richard White’s share trading and market disclosures from a preliminary review to a formal investigation.

 Founder of WiseTech Richard White has been reappointed to lead innovation and Zubin Appoo has been hired as Chief of Staff.

-Institutional investors are asking questions about the unexpected departure of two independent directors from Mineral Resources ((MIN)).

Corporate Calendar

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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