Next Week At A Glance – 26-30 – Aug 2024

Weekly Reports | Aug 23 2024

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/)

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.

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CHARTS

AGL ALD ALX ANN AOF APA APM ASG ASX AZJ BEN BFG BGA BHP BKG BOE BOQ BPT BUB CGF COL CRN DDR DOW EDV EVN FLT FMG GDC IDX IFM IGO IPH JHX JLG KAR LLC LOV MDR MIN MQG NAN NEC NHF NIC NWS NXT OML OPT ORA PPT QAN REA REX RHC RPL SDF SDR SFR SGR STO TAH TLS TPG TWE VCX VEA WDS WES WOR WOW YAL

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