Weekly Reports | 1:30 PM
This story features BHP GROUP LIMITED, and other companies.
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The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS
A brief look at important company events and economic data releases next week
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:
-BHP Group ((BHP)) is not called the Big Australian for nothing, as its ongoing share price rally, along with a stronger than expected result from Fortescue ((FMG)) and across the board strength in miners and gold stocks, took the Materials sector up 7% this week, to an almost 52% rise over the last year.
-Staples also put in a strong showing, well, Woolworths Group ((WOW)) did, up 11% after its better than expected interim results, the highest daily price rise in its history. Coles Group’s ((COL)) share price, by comparison, took the elevator down post results, missing expectations.
-The stark contrast between the supermarket majors reflects the ‘hit-and-miss’ nature of the February reporting season. While it has been a bit of a lottery as to which companies’ share prices are re-rated and which are de-rated, most investors have probably experienced, to some degree, the high level of price variability over the month and this week.
-After another sharp sell-off on Monday due to an ‘AI’ doomster report from research house Citrine (say who? you rightly ask), the Info Tech sector staged a welcome rally over the balance of the week, led by the start of a recovery in SaaS stocks in the US, as the likes of Ken Griffin’s Citadel pushed back on the ‘we’re all going to collapse from AI’ thematic. WiseTech Global ((WTC)) also did its part in the heavy lifting, as it announced better than feared results and a reported cull of some -2000 employees to make way for AI efficiency and investment.
-The ASX200 reached new highs by Thursday, including an intraday high above 9,200, with February earnings season proving to be better than expected, especially for financials and resource stocks.
-In contrast, the Consumer Discretionary and Healthcare sectors weakened over the last five days.
-For more information on the results, check out the FNArena Corporate Results Monitor, with daily updates on the beats, misses and those companies reporting in line results here https://fnarena.com/index.php/reporting_season/
-Wednesday’s January CPI print was stronger than expected, and banks like ANZ are now factoring in another RBA rate hike in May.
From ANZ Bank: “With a series of upward inflation shocks over recent quarters and less deceleration in the January trimmed mean than we expected, we now see this as the most likely path of policy. We then see the cash rate remaining at 4.1% for an extended period.”
-Next week the domestic fourth quarter GDP is announced on Wednesday and the US February unemployment rate on Friday (EST).
-Rumblings around US attacks on Iran continue, with the largest naval presence in the Middle East since 2003, maybe one reason why the gold price remains well supported?
The team at FNArena wishes everyone a great weekend.
Corporate news in the week that was:
-Bailey Nelson is interviewing advisers as it prepares for sale
-ColCap is on track to raise $2.7bn for the largest RMBS transaction for a non-bank lender in Australia
-Bunnings ((WES)) will offer one hour delivery for lawn mowers, power washers and pet food, as part of 30k items on Uber Eats at store prices
-Calvary Health Care and Northwest Heathcare are working with Healthscope’s landlords on a new deal
-Asian pharmacy group AS Watson is looking at a possible bid for a group of Priceline stores which would require FIRB approval
-Ramsay Health Care ((RHC)) is selling its European unit, sparking takeover speculation
-Bastion Security, backed by Quadrant, acquires Astralas
-Eucalyptus is being acquired by Hims & Hers for $1.6bn
-Crown Coaches has been sold to Ventura Group for $20m
-Steadfast Group ((SDF)) fends off buyout interest for IQumulate premium funding business
-IFM investors pulls out of Benson Radiology deal worth $400m
-Malabar’s Maxwell Mine is tipped as potential $1bn coal sale
-Bain Capital nears deal to acquire Perpetual’s ((PPT)) wealth unit, retaining the brand name
-Keyton likely to be acquired by Aware Super and Lendlease asset sales
-Olivier Goudet buys 6% of Treasury Wine Estates ((TWE))
-Koala Furniture may scale back its $100m IPO amid market uncertainty
-Mobile Tyre Shop has sought $6m from investors via a pre-IPO capital raising, valuing the company at around $50m
-Kelsian Group ((KLS)) is selling tourism assets to Journey Beyond for $161m
-Canva acquires Cavalry and MangoAI to increase motion design and AI-powered marketing tools
-Private equity, KKR and Bain, have cooled on Domino’s Pizza Enterprises ((DMP)) and are unlikely to bid to repair work and a softer sales outlook
-Insignia Financial’s ((IFL)) share price is nearing CC Capital’s $4.80 offer, casting doubt on the $3.3bn takeover
-Loss making software company Culture Amo has put plans for an IPO on the back burner amidst global technology sell off
-CoStar is selling Domain’s agent workflow software platform as part of the simplification strategy
-Media reports suggest a block trade from Cuscal is likely
-NextDC ((NXT)) has hired Barrenjoey alongside Cadence Advisory to seek out $15bn across equity and debt markets to build its data centre in western Sydney
-Five V Capital is seeking to offload smart parking business Orikan for $500m-plus
-LG Energy is seeking to exit Liontown ((LTR)) through a $419m block trade
-Terra Metals ((TM1)) is raising $50m in equity for its Dante project in WA
-Blackstone is preparing a $1bn sale of its clinical trials business Nucleus Network
-Wander seeks $13m to triple luxury off-grid pod portfolio
-Waratah Super Battery delayed until the end of 2026 after a transformer failure
-Blackbird earns huge returns from Eucalyptus $1bn sale
-AGL Energy ((AGL)) hires banks to fund its multibillion-dollar NSW renewable energy projects
-Tabcorp ((TAH)) receives approval for live betting device in NSW venues
-Macquarie Asset Management’s ((MQG)) is preparing a bid for 50% of SERV, the Secure Electronics Registries Victoria ($4bn)
-Bapcor ((BAP)) is raising $200m at a -65% discount to the last share price at 60c per share
-GLP-1 adoption is growing Chemist Warehouse’s ((SIG)) total addressable market
-Elders ((ELD)) to sell Killara Feedlot to Australian Meat Group for $196m with negligible EPS impact
-Future Group buys Tower Watson trustee business, moving in-house and affecting EQT Holdings ((EQT))
-US bidders are likely to overlook the AUD strength in 2026 M&A deals according to Ashurst
-Coles Group ((COL)) rejects claims its “Down Down” campaign misled shoppers on prices
-DroneShield ((DRO)) signs $22m contract deal with a western military customer
-CommBank ((CBA)) flags -$1bn potentially fraudulent home loans, including AI-made documents
Next week’s Corporate Calendar
For a calendar of upcoming events, see 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/)
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CHARTS
For more info SHARE ANALYSIS: AGL - AGL ENERGY LIMITED
For more info SHARE ANALYSIS: BAP - BAPCOR LIMITED
For more info SHARE ANALYSIS: BHP - BHP GROUP LIMITED
For more info SHARE ANALYSIS: CBA - COMMONWEALTH BANK OF AUSTRALIA
For more info SHARE ANALYSIS: COL - COLES GROUP LIMITED
For more info SHARE ANALYSIS: DMP - DOMINO'S PIZZA ENTERPRISES LIMITED
For more info SHARE ANALYSIS: DRO - DRONESHIELD LIMITED
For more info SHARE ANALYSIS: ELD - ELDERS LIMITED
For more info SHARE ANALYSIS: EQT - EQT HOLDINGS LIMITED
For more info SHARE ANALYSIS: FMG - FORTESCUE LIMITED
For more info SHARE ANALYSIS: IFL - INSIGNIA FINANCIAL LIMITED
For more info SHARE ANALYSIS: KLS - KELSIAN GROUP LIMITED
For more info SHARE ANALYSIS: LTR - LIONTOWN LIMITED
For more info SHARE ANALYSIS: MQG - MACQUARIE GROUP LIMITED
For more info SHARE ANALYSIS: NXT - NEXTDC LIMITED
For more info SHARE ANALYSIS: PPT - PERPETUAL LIMITED
For more info SHARE ANALYSIS: RHC - RAMSAY HEALTH CARE LIMITED
For more info SHARE ANALYSIS: SDF - STEADFAST GROUP LIMITED
For more info SHARE ANALYSIS: SIG - SIGMA HEALTHCARE LIMITED
For more info SHARE ANALYSIS: TAH - TABCORP HOLDINGS LIMITED
For more info SHARE ANALYSIS: TM1 - TERRA METALS LIMITED
For more info SHARE ANALYSIS: TWE - TREASURY WINE ESTATES LIMITED
For more info SHARE ANALYSIS: WES - WESFARMERS LIMITED
For more info SHARE ANALYSIS: WOW - WOOLWORTHS GROUP LIMITED
For more info SHARE ANALYSIS: WTC - WISETECH GLOBAL LIMITED

