Weekly Reports | 11:38 AM
This story features ANZ GROUP HOLDINGS LIMITED, and other companies.
For more info SHARE ANALYSIS: ANZ
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:
-The Australian market continued its better-than-expected momentum from July into the start of August. Arguably, much to the surprise of bearish commentators, the ASX200 rallied for a second consecutive day to a record high on Thursday.
-Although some profit taking has crept into the last day of trade, the ASX200, up until Friday’s softness, had closed up eight of the last nine days and rallied more than 525 points, or 6%, to an intraday high on Thursday of 9,297.
-While the US/Iran peace deal is looking wobbly again, the risk on sentiment was largely underpinned by a decline in the oil price and Middle East peace hopes. Plus, maybe sentiment had just gotten far too negative, and superfunds and overseas investors decided to throw some money at the market, particularly into big cap stocks.
-Australia, for all the inflation and rate hiking concerns, would be a beneficiary of lower oil prices and is a ‘pairs trade’ for some algo traders against a risk off sell down of AI-related tech markets and stocks, i.e. Korea.
-The ASX200 is up over 3% for the week, with Energy the only sector laggard. Materials were the stand out, up over 6.5%, both for the heavyweight miners and a re-found love of the goldies, as the gold price rallied on peace hopes.
-Healthcare followed overseas trends and rose 5%, while the beaten down InfoTech sector rallied 8%. Industrials also rose 3%, with the other sectors up, just a lot less so.
-Next week is BIG! Think more earnings results, albeit the third week is the huge week for market updates, including the RBA rates decision on Tuesday 11 at 2.30pm (AEST).
-The market isn’t pricing in a hike, but June’s household spending data surprised to the upside, and the economy is continuing to face capacity constraints in some sectors, like construction, which remains an issue, as well as inflation, for the RBA.
-Although earnings results, thus far, have been ‘better-than-feared’, the number of reports remains small, with analysts keenly watching outlook statements. The mood isn’t positive for FY27.
-Overseas, the Dow Jones and S&P500 also reached new highs, as investors embraced robust earnings. However, a potential Fed funds rate hike in September, the ongoing Middle East travails, and the midterm elections remain potential risk events for markets.
-Be sure to catch the FNArena Editor’s insightful interview on the upcoming earnings season to James Marlay at Livewire Markets, https://www.livewiremarkets.com/wires/why-rudi-filapek-vandyck-thinks-60-of-the-asx-could-finally-have-its-moment
-Looking ahead to next week, the August reporting season gathers momentum, so stay abreast of what’s happening with the FNArena calendar, https://fnarena.com/index.php/financial-news/calendar/
Until then the team at FNArena wishes you a great weekend.
Corporate news in the week that was:
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HSBC has agreed to sell its $36bn Australian loan portfolio to Blackstone, with acquisition debt financing provided by lenders including ANZ Banking Group ((ANZ)) and National Australia Bank ((NAB))
- Pinnacle Investment Management Group ((PNI)) is exploring a takeover bid for Bennelong Funds Management
- Forrestania Resources’ takeover bid for Zenith Minerals ((ZNC)) is facing scrutiny following a shareholder complaint to the Takeovers Panel
- FIFA has abandoned plans to sell a stake in future FIFA World Cup profits to private equity investors following industry backlash
- One Stop Warehouse has appointed MA Moelis Australia to source a minority investor to help fund its global expansion
- Westpac Banking Corp ((WBC)) completed the $15.4bn sale of its RAMS residential mortgage portfolio to a consortium comprising Pepper Money ((PPM)), KKR and a PIMCO-managed fund
- Regis Healthcare ((REG)) agreed to acquire Royal Freemasons Homes of Victoria’s home care business, expanding its home care operations and revenue
- Steadfast Group ((SDF)) extended the exclusivity period for a $6.7bn takeover proposal from a consortium comprising Amwins, Dragoneer and KKR
- Maas Group Holdings ((MGH)) entered a trading halt as negotiations continue over the potential sale of its Heidelberg Materials joint venture stake
- ACOM Group acquired the Barbeques Galore brand and inventory
- Grant Thornton Australia was sold in a private equity-backed transaction valued at around $1bn, with new owners planning further acquisitions
- Brookfield Asset Management is pursuing Australian property acquisitions as it targets growing its local real estate portfolio to $50bn
- TMX Group completed its acquisition of Cboe Australia, strengthening competition with ASX Ltd ((ASX)) in Australian capital markets
- Exxon Mobil and Chevron’s growing cash reserves are fuelling market speculation over potential acquisitions in the Australian energy sector
- Gigacomm acquired internet provider DGtek to expand its telecommunications footprint
- Regal Partners ((RPL)) reduced its holding in Firmus while Maas Group Holdings ((MGH)) founder Wes Maas reportedly considers a $200m investment
- Australian Venue Co increased earnings by 27% as continued pub acquisitions and expansion supported growth
- OneQode is seeking new funding at a valuation exceeding $250m to expand its AMD-based AI cloud computing platform
- ASIC proposed changes to provide greater flexibility around IPO advertising rules
- Qantas Airways ((QAN)) has sold its remaining stake in Jetstar Japan to the Development Bank of Japan for $7.4m
- Maas Group Holdings ((MGH)) will invest $300m to increase its stake in Firmus, has upgraded FY26 earnings guidance and secured $855m of AI infrastructure work
- Aware Super and Prime Super are exploring a merger that would create a combined $254bn superannuation fund
- Allegro Funds has emerged as a leading bidder for Continental-backed mycar in the private equity sale process
- Ranchland Capital Partners has agreed to acquire Macquarie-backed ((MQG)) Paraway Pastoral in a deal valued at around $3bn
- Clearlake Insurance Brokers is seeking a minority private equity investor with Barrenjoey advising on the process
- Private equity firms are circling Rio Tinto’s ((RIO)) infrastructure asset sale, which is expected to fetch between $2bn and $3bn
- Into The Wild Escapes is seeking a $7m minority investment to support a nationwide expansion of its cabin accommodation business
- Wahlburgers Australia has been caught up in debt recovery action as creditors move against the Mustaca business empire
- The collapse of Zen Energy has left creditors facing potential losses on more than $200m of outstanding debt
- Aura Group has made a scrip-based takeover approach for The Agency ((AU1))
- Multiple infrastructure investors are competing to acquire Morgan Stanley Infrastructure Partners’ StraitNZ
- Quadrant is in exclusive due diligence to acquire a $75m stake in Quayclean
- Macquarie ((MQG)), GO.FARM, Paine Schwartz and Roc Partners are competing to acquire Soul Patts’ Redlands horticulture portfolio ((SOL))
- Endeavour Group ((EDV)) is selling its wineries and vineyards as part of CEO Jayne Hrdlicka’s turnaround plan
- Mayne Pharma ((MYX)) shareholders are urging the company to sell its US women’s health and dermatology businesses following the collapse of its takeover bid
- Qube Holdings is reportedly exploring a potential acquisition of Pacific National in a deal valued at around $6bn
- The US Development Finance Corporation, Neo Performance Materials and Iluka Resources ((ILU)) are among the potential buyers evaluating Wyloo Metals’ controlling stake in the Yangibana rare earths project
- South Australia is seeking private capital for its proposed $5bn Northern Water desalination project
- Ticketek owner TEG has secured $100m of super senior debt to support its turnaround
- Salter Brothers is leading a capital raising for EngageRM through its technology fund
- Glencore plans to pursue a secondary ASX listing to attract Australian resources investors, improve liquidity and strengthen its presence in a key operating market
- Macquarie Group is seeking a $500m partner for Oxford Properties’ build-to-rent assets in Melbourne and Sydney
- Joe Aston’s media publication Rampart has raised $2.3m at a valuation of almost $29m
- Lithium Universe ((LU7)) has raised $900k to advance its lithium refinery project
- Heavy Rare Earths ((HRE)) is raising up to $2.028m through a placement and entitlement offer to fund drilling, project development and working capital
- Regis Resources ((RRL)) has rejected investor pressure to pursue another acquisition after losing the bidding war for Vault Minerals ((VAU)) to Genesis Minerals ((GMD))
- Nova Entertainment and Sports Entertainment Group ((SXE)) have emerged as the leading bidders for Quadrant’s MediaWorks as the sale enters its final stage
- I Squared is leading the bidding for oOh!media ((OML)) ahead of final offers, with plans to apply Stroer’s growth strategy to the outdoor advertising business
- Point Wild has reportedly appointed brokers for its planned ASX IPO, choosing the Australian market over Nasdaq
- Innovaero has opened its $40m IPO, targeting a $158m valuation ahead of its planned ASX listing next month
- Leading US law firms, including Paul Weiss, Quinn Emanuel and Proskauer, are exploring selling equity stakes to private equity investors
- Future Group is reportedly considering a secondary share sale after earnings increased by 36%. Ariadne Australia ((ARA)) is a shareholder
- ACFS Port Logistics has entered administration after lender ScotPac appointed external administrators, despite the company’s efforts to repay creditors
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: ANZ - ANZ GROUP HOLDINGS LIMITED
For more info SHARE ANALYSIS: ARA - ARIADNE AUSTRALIA LIMITED
For more info SHARE ANALYSIS: ASX - ASX LIMITED
For more info SHARE ANALYSIS: AU1 - AGENCY GROUP AUSTRALIA LIMITED
For more info SHARE ANALYSIS: EDV - ENDEAVOUR GROUP LIMITED
For more info SHARE ANALYSIS: GMD - GENESIS MINERALS LIMITED
For more info SHARE ANALYSIS: HRE - HEAVY RARE EARTHS LIMITED
For more info SHARE ANALYSIS: ILU - ILUKA RESOURCES LIMITED
For more info SHARE ANALYSIS: LU7 - LITHIUM UNIVERSE LIMITED
For more info SHARE ANALYSIS: MGH - MAAS GROUP HOLDINGS LIMITED
For more info SHARE ANALYSIS: MQG - MACQUARIE GROUP LIMITED
For more info SHARE ANALYSIS: MYX - MAYNE PHARMA GROUP LIMITED
For more info SHARE ANALYSIS: NAB - NATIONAL AUSTRALIA BANK LIMITED
For more info SHARE ANALYSIS: OML - OOH!MEDIA LIMITED
For more info SHARE ANALYSIS: PNI - PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED
For more info SHARE ANALYSIS: PPM - PEPPER MONEY LIMITED
For more info SHARE ANALYSIS: QAN - QANTAS AIRWAYS LIMITED
For more info SHARE ANALYSIS: REG - REGIS HEALTHCARE LIMITED
For more info SHARE ANALYSIS: RIO - RIO TINTO LIMITED
For more info SHARE ANALYSIS: RPL - REGAL PARTNERS LIMITED
For more info SHARE ANALYSIS: RRL - REGIS RESOURCES LIMITED
For more info SHARE ANALYSIS: SDF - STEADFAST GROUP LIMITED
For more info SHARE ANALYSIS: SOL - WASHINGTON H. SOUL PATTINSON AND COMPANY LIMITED
For more info SHARE ANALYSIS: SXE - SOUTHERN CROSS ELECTRICAL ENGINEERING LIMITED
For more info SHARE ANALYSIS: VAU - VAULT MINERALS LIMITED
For more info SHARE ANALYSIS: WBC - WESTPAC BANKING CORPORATION
For more info SHARE ANALYSIS: ZNC - ZENITH MINERALS LIMITED

