Weekly Reports | 3:00 PM
This story features BAPCOR LIMITED, and other companies.
For more info SHARE ANALYSIS: BAP
The company is included in 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:
-The week that was had very little good news for investors with a big sell-off on Thursday making sure the local market was always going to experience a deeply negative outcome
-Investors not sitting in cash are receiving some compensation from dividend payouts with the week ahead seeing an estimated $12.4bn paid out by ASX-listed companies
-Shares prices hitting all-time lows during the week past include Bapcor ((BAP)), Centuria Office REIT ((COF)), Healius ((HLS)), and Inghams Group ((ING)). Shares in Lendlease ((LLC)) hit a multi-decade low
-The list of share prices sinking to multi-year lows includes Syrah Resources ((SYR)), Dexus ((DXS)), Treasury Wine Estates ((TWE)), Mirvac Group ((MGR)), CSL ((CSL)), Amcor ((AMC)), Audinate Group ((AD8)), Jumbo Interactive ((JIN)), Seek ((SEK)), AUB Group ((AUB)), Car Group ((CAR)), Ebos Group ((EBO)), Aristocrat Leisure ((ALL)), Computershare ((CPU)), and many, many, many more
-There’s also a mini-list of stocks hitting multi-year highs; Elsight Ltd ((ELS)), Telstra ((TLS)), APA Group ((APA)), and Woodside Energy ((WDS)).
-When Qatar’s LNG infrastructure was hit by Iran, Brent oil hit US$119/bbl and that was it for global equities; automatic selling followed. Things have calmed down a little since, but one can sense the nerves underneath the surface of today’s markets
-Nearly three weeks into the Iran war and markets’ attention has, understandably and predictably, shifted towards potentially lasting damage to energy supplies (production and export capabilities) and what that might mean for economies and companies
-As pointed out by ANZ Bank economists, energy-importing currencies have led FX weakness and key resistance levels for several USD/Asia pairs have been tested this week. Australia is a producer itself and its currency is equally supported by two RBA rate hikes and the market pricing is for two more
-Whether more rate hikes will be forthcoming remains an open-ended public debate. Higher fuel costs and higher mortgage rates do have an impact and reading between the lines of some economists’ commentary this week their view is “don’t bet on it” (regardless of the market suggesting otherwise)
-There have been multiple central bank meetings throughout the week, but the RBA stood out from the pack, delivering a 25bp rate hike to push the cash rate to 4.10%. The widely expected decision was finely balanced in the end, the 5-4 split vote coming down to a difference in opinion over timing; the minority believing they had the opportunity to assess more data before acting
-The most important central bank in the world, the US Federal Reserve, left everything unchanged this week while also acknowledging higher petrol prices can potentially become a problem
-The ECB Governing Council unanimously voted to keep interest rates unchanged, with the deposit rate remaining at 2.0%.
-Meanwhile in Australia, the out-of-season corporate results are trickling in. Thus far the outcomes haven’t been great. See also Premier Investments ((PMV)) on Friday (wasn’t too bad).
FNArena’s Monitor: https://fnarena.com/index.php/reporting_season/
The week ahead has releases scheduled for Washington H Soul Pattinson ((SOL)) and Tuas ((TUA)).
-The calendar looks light on important economic data but there are inflation updates, and that’s the market’s prime focus against the oil price and Iran war background.
The team at FNArena wishes everyone a great weekend
Corporate news for the week that was
-Star Minerals completes conditions to sell project to Catalyst Metals ((CYL)) for $2.75m
-Capstone Copper ((CSC)) mulls $600m-plus sale of Cozamin mine
-NSW bans new greenfield coal mines, allows extensions of existing operations
-IperionX ((IPX)) faces short seller pressure after accounting error sparks concerns
-Orora ((ORA)) names Paul Victor as CFO, replacing Shaun Hughes who is relocating to France
-Takeovers Panel made a declaration of unacceptable circumstances in relation to buy now, pay later company Humm Group’s ((HUM)) disclosure of a $385m takeover proposal by Credit Corp ((CCP)) in December
-Novonix ((NVX)) shares fell after Nasdaq issued a compliance warning for failing to meet its minimum share price requirement
-ACCR appeals court ruling favoring Santos ((STO)) in greenwashing case
-ARN Media ((A1N)) has fired Kyle Sandilands and cancelled the show due to unresolved conflict with his co-host
-BHP Group ((BHP)) has appointed Brandon Craig as its next chief executive from July 1, replacing Mike Henry after 6.5 years in the role
-Sims Ltd ((SGM)) has guided 2026 fiscal year’s underlying EBIT to between $350m and $400m on the back of strong non-ferrous metal prices and buoyant memory chip markets
-Electro Optic Systems (EOS) CEO Andreas Schwer, and other members of the leadership team, will dispose of the vast majority of their shares in the company
-Macquarie Group ((MQG)) has pulled out of the bidding process for a stake in Kuwait’s oil pipeline network
-US startup Superpower is paying ASX-listed Tetratherix ((TTX)) USD3m a year to replace peptide injections with a nasal spray, funding research Big Pharma won’t
-Challenger Limited ((CGF)) cuts Pepper Money ((PPM)) bid amid weaker market conditions
-New Hope ((NHC)) profit drops -84% on bad weather and low coal prices
-West African Resources ((WAF)) profit jumps 130% on strong gold output
-IperionX ((IPX)) lost nearly -$400m in market value after a typo in its interim accounts
-Lynas Rare Earths ((LYC)) signs $137m supply deal with US Defense Department
-Horizon Nexus acquires PKF Brisbane carve out
-Whiteoak takes majority stake in Perth industrial designer Arcadia with debt backing from Regal Funds Management ((RPL))
-Global private equity firms including Carlyle evaluating a potential deal for Up Education as Pacific Equity Partners prepares an exit
-Nick Curtis planning to sell $100m of Firmus Technologies shares ahead of the company’s IPO
-AUSTRAC using CommBank ((CBA)) data to identify AML weaknesses and tackle mortgage fraud
-VIQ Solutions enters administration placing court transcript services at risk
-APRA proposing easier lending rules to boost productivity
-Infragreen ((IFN)) shares plunge to 35c from $1 angering investors
-Westpac ((WBC)) CEO says households can absorb two expected interest rate hikes despite rising costs
-Trina Solar halts Queensland battery project but remains involved locally
-Global buyer shows interest in I MED as Permira prepares potential ASX listing
-Major self storage operators targeting Wilson Group portfolio amid sector consolidation
-Woodside Energy ((WDS)) delays low carbon ammonia startup at its $3.35bn Beaumont project due to weak customer demand and equipment delays
-Bain Capital to buy Perpetual Wealth ((PPT)) for $550m
-A non property buyer is leading the $865m bid to acquire Peet ((PPC))
-Future Fund considering a stake in Victoria’s $4bn land registry sale
-ANZ Bank ((ANZ)) planning to acquire Worldline’s stake in their $925m payments joint venture
-A private equity group led by Andrew Forrest is exploring an acquisition of BHP Group’s ((BHP)) Nickel West
-JPMorgan completed a block trade of Lifestyle Communities ((LIC)) shares for Hometown America
-Jackie ‘O’ Henderson suing ARN Media ((A1N)) over alleged wrongful termination
-KMD Brands ((KMD)) appoints Goldman Sachs to manage a major recapitalisation
-L1 Capital ((L1G)) targeting $1bn for a new gold LIC with founders committing $100m
-HotCopper deletes posts following legal action from Duncan Craib
-US oil companies could earn US$86b this year as oil prices surge after the Iran war
-WhiteHawk Capital considering a $400m lending facility for Star Entertainment ((SGR))
-Renewable data centre developer WinDC seeking $176m in Series A funding
-Koala’s IPO is positioned for a circa $305m valuation at the top of the original range
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
CHARTS
For more info SHARE ANALYSIS: AD8 - AUDINATE GROUP LIMITED
For more info SHARE ANALYSIS: ALL - ARISTOCRAT LEISURE LIMITED
For more info SHARE ANALYSIS: AMC - AMCOR PLC
For more info SHARE ANALYSIS: APA - APA GROUP
For more info SHARE ANALYSIS: AUB - AUB GROUP LIMITED
For more info SHARE ANALYSIS: BAP - BAPCOR LIMITED
For more info SHARE ANALYSIS: CAR - CAR GROUP LIMITED
For more info SHARE ANALYSIS: COF - CENTURIA OFFICE REIT
For more info SHARE ANALYSIS: CPU - COMPUTERSHARE LIMITED
For more info SHARE ANALYSIS: CSL - CSL LIMITED
For more info SHARE ANALYSIS: DXS - DEXUS
For more info SHARE ANALYSIS: EBO - EBOS GROUP LIMITED
For more info SHARE ANALYSIS: ELS - ELSIGHT LIMITED
For more info SHARE ANALYSIS: HLS - HEALIUS LIMITED
For more info SHARE ANALYSIS: ING - INGHAMS GROUP LIMITED
For more info SHARE ANALYSIS: JIN - JUMBO INTERACTIVE LIMITED
For more info SHARE ANALYSIS: LLC - LENDLEASE GROUP
For more info SHARE ANALYSIS: MGR - MIRVAC GROUP
For more info SHARE ANALYSIS: PMV - PREMIER INVESTMENTS LIMITED
For more info SHARE ANALYSIS: SEK - SEEK LIMITED
For more info SHARE ANALYSIS: SOL - WASHINGTON H. SOUL PATTINSON AND COMPANY LIMITED
For more info SHARE ANALYSIS: SYR - SYRAH RESOURCES LIMITED
For more info SHARE ANALYSIS: TLS - TELSTRA GROUP LIMITED
For more info SHARE ANALYSIS: TUA - TUAS LIMITED
For more info SHARE ANALYSIS: TWE - TREASURY WINE ESTATES LIMITED
For more info SHARE ANALYSIS: WDS - WOODSIDE ENERGY GROUP LIMITED

