Next Week At A Glance – 28 Apr – 2 May, 2025

This story features COMMONWEALTH BANK OF AUSTRALIA, and other companies. For more info SHARE ANALYSIS: CBA

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 short three day trading week for the ASX with public holidays on Easter Monday and Anzac Day on Friday, but there was no shortage of news.

-The Trump trade pivot was the talk of the week, with US markets backflipping on the ‘Sell America’ trade amid reports from the US administration that it’s time to de-escalate unsustainable tariffs with China. The US is ready to talk – but is China?

-President Trump shifted to the “Trade Reset” narrative from “Trade War,” with companies like Walmart, Home Depot, and Target reportedly attending the White House with spreadsheets showing supply chain horror stories.

-Even the sacking of Fed Chair Powell has been walked back by the President, and markets responded in kind, with the S&P500 up over 5% by Thursday, back to level levels just post April 2, Liberation Day.

-The ASX200 was already showing signs of decoupling from US markets, rallying last Thursday and Tuesday despite negative leads from Wall Street. The index is up almost 2% over the last week.

-All sectors contributed to the run-up, with Materials, Energy, Consumer Discretionary all rallying by over 1.5%, and Technology and Financials at the top of the rankings, with CommBank ((CBA)) reaching an all time high of $168. Consumer Staples was the only negative, highlighting the market’s risk-on tone.

-Gold hit an all-time high of US$3,500/oz on Wednesday before profit-taking on the Trump pivot, and even Bitcoin joined the rally. Much of the rise in US markets was attributed to the US softening its ultra-hardline trade stance, though others suggest the rally was underpinned by hedge funds covering short positions in oversold conditions.

-Westpac’s Luci Ellis reiterated an expected interest rate cut of -25bps at the upcoming May 20 RBA meeting with global uncertainty and the risk of slower global growth from tariffs offsetting relatively resilient domestic economic data.

-Next week will bring a rush of outstanding quarterly reports and the end of a tumultuous month for markets.

Have a great long weekend, from the FNArena Team

Corporate news in the week that was:

-A 19.99% stake in Transgrid is looking for a home with the Abu Dhabi Investment Authority’s stake on the market.

-Yancoal ((YAL)) has warned of an uncertain outlook for coal miners due to global trade issues.

-Investment banks are circling the co-founders of Chemist Warehouse holding worth more than $16bn of shares in Sigma Healthcare ((SIG)).

-Macquarie Group ((MQG)) is selling its public investment business in the US and European Union to Nomura in a $2.8bn deal.

 Selfwealth ((SWF)) shareholders approve Syfe Group’s Svava acquisition, with delisting planned for May after Federal Court approval.

 Fonterra’s sale of its consumer business faces a setback as Bega Cheese ((BGA)), a potential buyer, is excluded due to a legal dispute with the seller.

Northern Star’s ((NST)) $5bn De Grey ((DEG)) takeover gains court approval, with shares to be suspended post-court orders

 Santos ((STO)) received final regulatory approval for its $5.8bn Barossa gas project in the Timor Sea, clearing the way for production to begin in the third quarter of 2025, despite sustained opposition from environmental groups over its high carbon emissions.

-Cooper Investors has seen funds under management fall to $6bn from $14bn, 18 months ago.

-Mineral Resources ((MIN)) loses the third member of its ethics committee.

-Treasurer Jim Chalmers has directly raised with the ASX chairman its decision allowing James Hardie Industries ((JHX)) to shift its primary listing without a shareholder vote, though he also suggested he is reluctant to intervene.

Corporate Calendar

For a calendar of earnings report releases and a summary of upcoming economic data, refer to FNArena’s Corporate Calendar  (https://fnarena.com/index.php/financial-news/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/)

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