Next Week At A Glance – 10-14 Feb 2025

This story features NEWS CORPORATION, and other companies. For more info SHARE ANALYSIS: NWS

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:

-A delay in 25% tariffs on Mexico and Canada this week staved off a risk-off sell-down in global equities. The ASX was not immune but has since recovered along with US markets, trading just under all-time highs.

-The mercurial US President continues to operate with a “flood the zone” approach to the media, which, depending on the topic de jour, may or may not impact markets. Strap in, as this strategy is unlikely to change anytime soon.

-With macro volatility, investors will increasingly focus on reporting season, which swings into gear in earnest next week.

-This week, results were mixed. Media companies News Corp ((NWS)) and REA Group ((REA)) received a thumbs up for better-than-expected results, while Beach Energy disappointed after a large dividend miss.

-Despite a looming escalation in the US/China tariff war, iron ore prices boosted the materials sector, while Nasdaq strength helped Australia’s information technology sector become the standout for the week. Utilities and healthcare were the weakest performers. Shares in Commonwealth Bank ((CBA)) reached an all-time high, reaching $162.89.

-From a macro perspective, domestic politics is shaping up for a potential May Federal election. The February 18 RBA rates decision has markets pricing in a -25bps cut.

-In the US, the all-important January CPI and PPI prints are due next week.

-Don’t forget FNArena’s Corporate Results Monitor to keep track of beats, misses, and in-line results for February.

(https://fnarena.com/index.php/reporting_season/)

Have a great weekend from the FNArena Team

Corporate news in the week that was:

-AFR reports Armaguard and Australia’s banks are in urgent, RBA-led talks to overhaul operations and avert a potential cash supply crisis

-Singapore’s Syfe has acquired up to 19.99% of Selfwealth ((SWF)), challenging Bell Financial’s takeover ((BFG)) bid

-Vanguard has announced its biggest ever fee cut which will reverbate across the industry worldwide

-Blackstone is reportedly eyeing the acquisition of Star Entertainment ((SGR))

-National Australia Bank ((NAB)) reportedly considered acquiring Scottish Pacific (ScotPac), Australia’s largest non-bank business lender, but did not pursue the idea

-BP halts $600m renewable fuel project in Perth, reassessing demand and returns

-Regis Resources ((RRL)) secures $300m credit facility after early loan repayment

-Deloitte settles with Noumi ((NOU)) shareholders for $31m over audit failure

-HSBC is selling its retail operations in Australia. Who’s keen to buy?

-Xref ((XF1)) shareholders have rejected acquisition by Seek ((SEK))

-Tower ((TWR)) has updated its earnings guidance on underlying net profit after tax owing to strong business performance in Q1 of FY25

-Macquarie Group ((MQG)) is ditching US debt capital markets, cutting jobs and offloading loans, as it bets big on the booming private credit sector

-According to Bloomberg, Allianz and Insurance Australia Group ((IAG)) are considering bidding for the insurance arm of The Royal Automobile Club of Western Australia

-Microsoft signals it is open to striking deals with Australian publishers under Labor’s new tech levy

-Future Fund hit $238bn after a 12.2% return in 2024

-Westpac ((WBC)) invests $10m in Lawpath to provide legal and compliance services to businesses

-REA Group ((REA)) CEO Owen Wilson is set to retire in the second half of 2025 after 10 years with the business

-Treasurer Jim Chalmers has flagged EV road user charge is a priority tax reform

-Generation Development Group ((GDG)) to pay -$320m for acquisition of Evidentia Group, which provides investment advice to large wealth managers, AFR’s Street Talk has revealed

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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