Next Week At A Glance – 11-15 Nov 2024

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