Next Week At A Glance – 19-23 Aug 2024

Weekly Reports | Aug 16 2024

This story features ORORA LIMITED, and other companies. For more info SHARE ANALYSIS: ORA

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 ASX experienced volatility but ultimately closed higher, with the ASX200 reaching a fresh record high after economic data in the US reinforced investors’ confidence in a soft landing and a September rate cut from the Federal Reserve.

-Earnings Season: FNArena Corporate Results Monitor: 51 companies reported; 17 Beats, 19 In Line and 16 Misses as at Aug 15.

-Economy : Unemployment rose to 4.3% in July, Wage price index up 0.8% in Q2

-Governor Bullock reiterated last week’s messages in parliamentary testimony: the RBA Board’s judgment is that policy is sufficiently restrictive; it is premature to think about rate cuts as inflation is too high; the Board does not expect be in a position to cut in the near term

-Sector Performance: Technology stocks and interest rate-sensitive sectors rallied as global markets steadied. Consumer discretionary stocks lifted, contributing to the market’s overall positive performance.

Corporate news in the week that was:

-Private equity is reportedly interested in Orora’s ((ORA)) $2.2bn OPS business in North America. The Board has rejected Lone Star’s “opportunistic” takeover bid for the whole company

-Private equity is reportedly interested in Ramsay Health Care ((RHC))

-Private equity is reportedly interested in Pepper Money ((PPM))

-Fletcher Building ((FBU)) is selling Tradelink to Metals Manufacturers

-Rumour has it Metcash ((MTS)) might be considering a separate listing for Total Tools

-Sims ((SGM)) has sold $435m in assets, including its UK metal recycling business and a stake in CLP Circular Services. The company is exploring a break-up, with shareholders favouring the sale of its North American unit

-Albemarle may sell its 49% stake in the Greenbushes lithium mine to IGO Ltd ((IGO))

Seven West Media ((SWM)) to cut -$108m in costs and stop its share buyback program over the next year after an advertising pullback slashed profits

-The ACCC has accepted a court-enforceable undertaking from TPG Telecom ((TPG)) it will not enter into agreements with Google to pre-install its search services as a default function on Android devices

-Wesfarmers ((WES)) and Macquarie Group ((MQG)) are reportedly eyeing the $3bn I-MED diagnostic imaging business

-Rio Tinto ((RIO)) is seeking to sell a stake in its Winu copper project in Western Australia

-AGL Energy ((AGL)) is acquiring Firm Power, a 6GW battery energy storage system company

-IFM Investors has reportedly pulled out of the bidding contest for Healius’ ((HLS)) Lumus Imaging business, leaving three bidders remaining

-Alex Waislitz and Antony Catalano increased their stake in Southern Cross Media ((SXL)) and are reportedly considering a takeover with ARN Media ((A1N))

-CommBank ((CBA)) is selling its ultra-high-net-worth advice business, Commonwealth Private Advice

-Magellan Financial Group ((MFG)) has acquired a 29.5% stake in Vinva for $138.5m, forming a strategic partnership

Next week at a glance

-Monday August 19: US July Leading Economic Indicator (LEI)

-Tuesday August 20: NZ July trade balance; Australia August RBA minutes; EZ July CPI

-Wednesday August 21: Japan July trade balance; US July FOMC minutes

-Thursday August 22: EZ August PMI; UK August PMI; US August PMI & July existing home sales; US Jackson Hole Symposium starts (ends Aug 24)

-Friday August 23: NZ 2Q retail sales; Japan July CPI; US July new home sales

Corporate Calendar

A selection of upcoming earnings reports are shown. Please visit the FNArena Corporate Results Monitor for a more detailed calendar. The upcoming week is an earnings reporting monster!

-Monday August 19: Earnings reports from a2 Milk ((A2M)), Ampol ((ALD)), GPT Group ((GPT)), Iress ((IRE)), Lendlease ((LLC)), Reece ((REC)), Suncorp ((SUN)) and Westpac ((WBC)) quarterly

-Tuesday August 20: Earnings reports from Ansell ((ANN)), ANZ Bank quarterly, ARB Corp ((ARB)). Hub24 ((HUB)), Monadelphous Group ((MND)), Sims Group ((SGM)), Tabcorp ((TAH)), Vicinity Centres ((VCX))

-Wednesday August 21: Earnings reports from AUB Group ((AUB)), Bapcor ((BAP)), Brambles ((BXB)), Charter Hall ((CHC)), Corporate Travel ((CTD)), Domino’s Pizza Enterprises ((DMP)), Insurance Australia Group ((IAG)), Pexa Group ((PXA)), Santos ((STO)), Telstra Group ((TLS)), WiseTech Global ((WTC))

-Thursday August 22: Earnings reports from Eagers Automotive ((APE)), Cleanaway Waste Management ((CWY)), IPH Ltd ((IPH)), Medibank Private ((MPL)), Megaport ((MP1)), Northern Star Resources ((NST)), Qube Holdings ((QUB)), Sonic Healthcare ((SHL)), Telix Pharmaceuticals ((TLX)), Whitehaven Coal ((WHC))

-Friday August 23: Earnings reports from IDP Education ((IEL)), Iluka Resources ((ILU)), Lynas Rare Earths ((LYC)), NextDC ((NXT)), Paladin Energy ((PDN)), TPG Telecom ((TPG))

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

A1N A2M AGL ALD ANN APE ARB AUB BAP BXB CBA CHC CTD CWY DMP FBU GPT HLS HUB IAG IEL IGO ILU IPH IRE LLC LYC MFG MND MP1 MPL MQG MTS NST NXT ORA PDN PPM PXA QUB REC RHC RIO SGM SHL STO SUN SWM SXL TAH TLS TLX TPG VCX WBC WES WHC WTC

For more info SHARE ANALYSIS: A1N - ARN MEDIA LIMITED

For more info SHARE ANALYSIS: A2M - A2 MILK COMPANY LIMITED

For more info SHARE ANALYSIS: AGL - AGL ENERGY LIMITED

For more info SHARE ANALYSIS: ALD - AMPOL LIMITED

For more info SHARE ANALYSIS: ANN - ANSELL LIMITED

For more info SHARE ANALYSIS: APE - EAGERS AUTOMOTIVE LIMITED

For more info SHARE ANALYSIS: ARB - ARB CORPORATION LIMITED

For more info SHARE ANALYSIS: AUB - AUB GROUP LIMITED

For more info SHARE ANALYSIS: BAP - BAPCOR LIMITED

For more info SHARE ANALYSIS: BXB - BRAMBLES LIMITED

For more info SHARE ANALYSIS: CBA - COMMONWEALTH BANK OF AUSTRALIA

For more info SHARE ANALYSIS: CHC - CHARTER HALL GROUP

For more info SHARE ANALYSIS: CTD - CORPORATE TRAVEL MANAGEMENT LIMITED

For more info SHARE ANALYSIS: CWY - CLEANAWAY WASTE MANAGEMENT LIMITED

For more info SHARE ANALYSIS: DMP - DOMINO'S PIZZA ENTERPRISES LIMITED

For more info SHARE ANALYSIS: FBU - FLETCHER BUILDING LIMITED

For more info SHARE ANALYSIS: GPT - GPT GROUP

For more info SHARE ANALYSIS: HLS - HEALIUS LIMITED

For more info SHARE ANALYSIS: HUB - HUB24 LIMITED

For more info SHARE ANALYSIS: IAG - INSURANCE AUSTRALIA GROUP LIMITED

For more info SHARE ANALYSIS: IEL - IDP EDUCATION LIMITED

For more info SHARE ANALYSIS: IGO - IGO LIMITED

For more info SHARE ANALYSIS: ILU - ILUKA RESOURCES LIMITED

For more info SHARE ANALYSIS: IPH - IPH LIMITED

For more info SHARE ANALYSIS: IRE - IRESS LIMITED

For more info SHARE ANALYSIS: LLC - LENDLEASE GROUP

For more info SHARE ANALYSIS: LYC - LYNAS RARE EARTHS LIMITED

For more info SHARE ANALYSIS: MFG - MAGELLAN FINANCIAL GROUP LIMITED

For more info SHARE ANALYSIS: MND - MONADELPHOUS GROUP LIMITED

For more info SHARE ANALYSIS: MP1 - MEGAPORT LIMITED

For more info SHARE ANALYSIS: MPL - MEDIBANK PRIVATE LIMITED

For more info SHARE ANALYSIS: MQG - MACQUARIE GROUP LIMITED

For more info SHARE ANALYSIS: MTS - METCASH LIMITED

For more info SHARE ANALYSIS: NST - NORTHERN STAR RESOURCES LIMITED

For more info SHARE ANALYSIS: NXT - NEXTDC LIMITED

For more info SHARE ANALYSIS: ORA - ORORA LIMITED

For more info SHARE ANALYSIS: PDN - PALADIN ENERGY LIMITED

For more info SHARE ANALYSIS: PPM - PEPPER MONEY LIMITED

For more info SHARE ANALYSIS: PXA - PEXA GROUP LIMITED

For more info SHARE ANALYSIS: QUB - QUBE HOLDINGS LIMITED

For more info SHARE ANALYSIS: REC - RECHARGE METALS LIMITED

For more info SHARE ANALYSIS: RHC - RAMSAY HEALTH CARE LIMITED

For more info SHARE ANALYSIS: RIO - RIO TINTO LIMITED

For more info SHARE ANALYSIS: SGM - SIMS LIMITED

For more info SHARE ANALYSIS: SHL - SONIC HEALTHCARE LIMITED

For more info SHARE ANALYSIS: STO - SANTOS LIMITED

For more info SHARE ANALYSIS: SUN - SUNCORP GROUP LIMITED

For more info SHARE ANALYSIS: SWM - SEVEN WEST MEDIA LIMITED

For more info SHARE ANALYSIS: SXL - SOUTHERN CROSS MEDIA GROUP LIMITED

For more info SHARE ANALYSIS: TAH - TABCORP HOLDINGS LIMITED

For more info SHARE ANALYSIS: TLS - TELSTRA GROUP LIMITED

For more info SHARE ANALYSIS: TLX - TELIX PHARMACEUTICALS LIMITED

For more info SHARE ANALYSIS: TPG - TPG TELECOM LIMITED

For more info SHARE ANALYSIS: VCX - VICINITY CENTRES

For more info SHARE ANALYSIS: WBC - WESTPAC BANKING CORPORATION

For more info SHARE ANALYSIS: WES - WESFARMERS LIMITED

For more info SHARE ANALYSIS: WHC - WHITEHAVEN COAL LIMITED

For more info SHARE ANALYSIS: WTC - WISETECH GLOBAL LIMITED