Weekly Reports | May 29 2026
This story features SUPERLOOP LIMITED, and other companies.
For more info SHARE ANALYSIS: SLC
The company is included in 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:
-Post the start of the Middle East war, global equity markets have bifurcated. US indices continue to track to record highs on bumper earnings results and upgrades boosted by AI investment spend.
-Taiwan overtook India to become the world’s fifth-largest stock market, thanks to AI and the semiconductor boom led by TSMC. South Korea overtook Canada to become the sixth-largest stock market, driven by Samsung and SK Hynix, which reached a combined US$1trn market cap.
-Australia, Europe, and the UK, meanwhile, are on struggle street, awaiting the resolution to the war and hopefully lower energy, fertiliser, and ancillary product prices down the track.
-The demand for US equities could not be ignored this week, with CommSec’s website groaning under the volume of customers applying for an International Account to possibly pick up a crumb of Elon Musk’s upcoming SpaceX float. Forget that the company makes no money and has plans for data centres in space and a colony on Mars. When the narrative fits, the herds will follow.
-Back home, in challenging, bear market-like conditions on the ASX, investors briefly cheered a softer-than-expected April CPI print on Wednesday, which had the market pricing out RBA rate hikes until possibly late in the year, before being dashed on the rocks of the US/Iranian exchange of fire, raising doubts (again) over the peace deal.
-For all the volatility over the week and the last 12 months, the ASX is basically flat, yet most investors (and traders) are probably feeling like they have been through a high-speed washing cycle.
-Budget concerns have not helped, weighing on sentiment and animal spirits, while corporate earnings updates have been a case of both beats and misses, with the computers swinging share prices wildly.
-One thing is for sure; companies with exposure to infrastructure and the data centre build-out are riding the tailwinds of demand. While household spending fell in April, capex for 1Q2026 rose 5.5% q/q, driven by a surge in machinery and equipment, notably data centre-related investment.
-Under the surface of the ASX, investors have taken the mantle with materials, industrials, consumer discretionary, information technology, and real estate stocks trending higher. Is there a whiff of rotation into more interest rate-sensitive sectors on the hope the RBA is closer to ending its rate hiking cycle?
The market is pricing in 2bp of rate hikes for the RBA’s June meeting and 20bp of RBA rate hikes for 2026.
-Budget concerns saw financials sell off while healthcare, communications services and utilities also experienced selling pressure. Energy stocks fell as the price of oil weakened on peace hopes.
-Next week on the macro front, there is ANZ Bank job ads on Monday and 1Q2026 GDP on Wednesday. Several investor briefings are on the calendar, including Superloop ((SLC)), Treasury Wine Estates ((TWE)), and The Lottery Corporation ((TLC)).
-Meanwhile, Straker ((STG)) was unable to release financials today due to internal fraud by a US employee.
The team at FNArena wishes everyone a great weekend.
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/)
Corporate news in the week that was:
- Tuas ((TUA)) abandons proposed $1.6bn takeover of M1 following Singapore regulatory scrutiny over Simba spectrum compliance concerns
- Codan ((CDA)) acquires US engineering group Adaptive Dynamics to expand unmanned systems and electronic warfare capabilities
- KKR’s planned $2bn sale of UP Education faces uncertainty amid weak buyer appetite
- Woodside Energy ((WDS)) moves to block Inpex by pursuing PetroChina’s Browse stake in strategic LNG manoeuvre
- Matt Latimore advances bid to acquire Whyalla steelworks
- Ravenswood gold mine expected to be marketed for sale in 2026-2027 once operational and financial performance stabilises
- Bain Capital agrees to sell Estia Health to Stonepeak in a $2.5bn transaction
- Real Pet Food Group sale process struggles as high vendor price expectations deter private equity interest including Blackstone and Bain
- Permira sells I-MED to Jardine Matheson for $3.4bn, shelving IPO plans
- Gina Rinehart backs Arafura Rare Earths’ ((ARU)) $375m capital raising
- Tanda founders seek private equity partner in deal that could value the workforce software business at more than $500m
- Coronado Global Resources ((CRN)) sells a US mine to sharpen focus on core metallurgical coal operations
- Beach Energy ((BPT)) offloads a -60% stake in the Otway Basin for $130m as part of capital reallocation efforts
- Atlas Arteria ((ALX)) considers selling its Chicago Skyway stake following ROFO expiry and a panel ruling
- Service Stream ((SSM)) acquires RIE Group for up to -$8m to broaden its utilities services offering
- Zembl advances sale discussions with Ellerston as non-binding indicative offers emerge from bidders
- Agilex Biolabs attracts private equity interest despite a softer valuation backdrop
- Quadrant Private Equity prepares multiple asset sales amid pressure to realise exits
- Singtel explores a potential Optus stake sale with infrastructure investors
- CDC Data Centres prepares a $1bn hybrid financing deal after securing a major client contract to support balance sheet strength
- Harvest Technology Group ((HTG)) launches a capital raising to support defence-focused expansion plans
- Regal Partners ((RPL)) backs the Boresight IPO, increasing exposure to drone and defence technology investments
- SoftBank shares hit record highs on investor optimism around possible IPOs tied to its OpenAI stake and other assets
- Greencross IPO delayed as TPG evaluates alternative transaction structures
- Firmus IPO delayed amid market uncertainty despite strong AI-related listing momentum
- Nine Entertainment ((NEC)) targets exclusive NRL rights to drive Stan growth and challenge Foxtel’s long-held coverage
- HSBC’s $26bn Australian mortgage book sale narrows to one bidder after weak offers
- I Squared Capital acquires US$225m in data centres to build an AI inference platform
- Tetratherix ((TTX)) launches equity raising supported by long-term revenue agreement
- CommSec prepares to offer Australian retail investors access to SpaceX IPO exposure for up to $1bn in stock
- Cars4Us founder Matt Wright invests $3m across three founders after $120m exit
- Goldman Sachs nears $1bn acquisition of NOJA Power after competitive auction
- ANZ Bank ((ANZ)) has exited negative gearing lending, leaving Commonwealth Bank ((CBA)) as the only major bank still offering the product
- Revolut is targeting expansion into business banking, aiming to become one of the top three global business banks, including in Australia
- The sale process for Whyalla Steelworks has narrowed to two final bidders under a government-led restructuring initiative
- A Stonepeak-led consortium is set to acquire a majority stake in Estia Health from Bain Capital in a significant aged care sector transaction
- Mercer has resumed negotiations to acquire Colonial First State, with sellers now considering a more flexible partial-sale structure
- AGL Energy ((AGL)) plans to sell stakes in several major wind farms to private investors to help fund its renewable energy strategy
- Affinity Equity Partners may pursue an IPO for Scottish Pacific after receiving limited interest from potential buyout bidders
- A private equity investor has reduced its holding in Mayfield Group ((MYG)) through an approximately $30m block share sale
- Apax is exploring a sale of Pickles Auctions in a deal that could value the business at around $1.5bn following strong buyer interest
- Sexyland’s owner is considering a sale of the adult retail business after operating for several decades
- Danone is progressing towards an acquisition of Made Group, although negotiations over valuation remain unresolved
- Brett Blundy could reacquire Bras N Things as Hanes Australasia explores a sale of its retail portfolio valued at around $500m
- Modular Construction Masters has raised $40m to expand manufacturing operations and increase factory capacity
- KPMG is pursuing partnerships and investments in AI startups as the firm looks to stay ahead of industry disruption
- HESTA has backed a new $70m venture capital fund, Synthesis Capital, focused on Australian medtech startups
- FDC Construction is continuing preparations for an IPO despite softer conditions in Australian equity markets
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CHARTS
For more info SHARE ANALYSIS: AGL - AGL ENERGY LIMITED
For more info SHARE ANALYSIS: ALX - ATLAS ARTERIA
For more info SHARE ANALYSIS: ANZ - ANZ GROUP HOLDINGS LIMITED
For more info SHARE ANALYSIS: ARU - ARAFURA RARE EARTHS LIMITED
For more info SHARE ANALYSIS: BPT - BEACH ENERGY LIMITED
For more info SHARE ANALYSIS: CBA - COMMONWEALTH BANK OF AUSTRALIA
For more info SHARE ANALYSIS: CDA - CODAN LIMITED
For more info SHARE ANALYSIS: CRN - CORONADO GLOBAL RESOURCES INC
For more info SHARE ANALYSIS: HTG - HARVEST TECHNOLOGY GROUP LIMITED
For more info SHARE ANALYSIS: MYG - MAYFIELD GROUP HOLDINGS LIMITED
For more info SHARE ANALYSIS: NEC - NINE ENTERTAINMENT CO. HOLDINGS LIMITED
For more info SHARE ANALYSIS: RPL - REGAL PARTNERS LIMITED
For more info SHARE ANALYSIS: SLC - SUPERLOOP LIMITED
For more info SHARE ANALYSIS: SSM - SERVICE STREAM LIMITED
For more info SHARE ANALYSIS: STG - STRAKER LIMITED
For more info SHARE ANALYSIS: TLC - LOTTERY CORPORATION LIMITED
For more info SHARE ANALYSIS: TTX - TETRATHERIX 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

