K64 Auxiliary Finance and Insurance Services

ASX faces dividend horror story as companies slash payouts

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Original article by Alex Gluyas
The Australian Financial Review – Page: 21 : 5-Mar-25

The combined dividend payout for companies in the benchmark S&P/ASX 200 Index was just $31.2bn in the February reporting season. Bell Potter strategist Richard Coppleson notes that it is the lowest payout for this period since 2021, at the height of the COVID-19 pandemic. The three major listed iron ore miners reduced their dividends in response to a sharp fall in the price of the steel input during 2024. Citigroup expects further decline in the mining sector’s dividends, amid expectations that the iron ore price will also fall as new supply enters the market later in 2025. The firm also anticipates lower dividends from bank stocks, which dominate the ASX along with resources stocks.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, BELL POTTER SECURITIES LIMITED, CITIGROUP PTY LTD

Finance sector has gender balance – except the pay gap

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Original article by Helen Trinca
The Australian – Page: 15 : 4-Mar-25

The Workplace Gender Equality Agency’s latest annual report shows that women now comprise 53 per cent of workers in Australia’s banking, finance and insurance sector. However, the report notes that the gender pay gap in this sector is 22.3 per cent, compared with the national pay gap of 12.1 per cent. The average gender pay gap for the nation’s four major banks ranges from 18.8 per cent to 22.4 per cent; in contrast the average pay gap at Morgan Stanley is 58.6 per cent, although its base salary gap is just 37.3 per cent. Meanwhile, women comprise just 36 per cent of the top remuneration quartile in the financial services industry, and predominantly work in roles that have lower pay.

CORPORATES
AUSTRALIA. WORKPLACE GENDER EQUALITY AGENCY

Local funds at risk with $28 billion exposure to Nvidia

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Original article by Alex Gluyas
The Australian Financial Review – Page: 23 : 29-Jan-25

Shares in US semiconductor manufacturer Nvidia fell by 17 per cent on Tuesday, reducing its market capitalisation by nearly $US600bn. Analysis by VanEck shows that Australian fund managers and superannuation funds hold about $28bn worth of Nvidia’s shares, although this figure may be higher given that some funds do not disclose their holdings. Sam Sicilia from Hostplus says all high-performing stocks must decline at some point, and the question is whether Nvidia’s share price will rebound and what impact it will have on the broader sharemarket.

CORPORATES
NVIDIA CORPORATION, VANECK, HOST-PLUS

ASX listings climb with hopes for more

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Original article by Matt Bell
The Australian – Page: 18 : 8-Jan-25

A total of 67 companies listed on the Australian sharemarket in 2024, compared with just 45 in the previous calendar year. It also follows 107 new listings in 2022 and 241 in 2021. However, takeovers and de-listings resulted in the number of companies on the ASX falling from 2,191 in 2023 to 2,116 at the end of 2024. James Posnett from the ASX is upbeat about the outlook for new listings in 2025, noting that there has been increased confidence and renewed interest in listing in recent months.

CORPORATES
ASX LIMITED – ASX ASX

ASX 200 tops 8500 on Santa rally

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Original article by Joanne Tran
The Australian Financial Review – Page: 25 : 4-Dec-24

Tribeca Investment Partners portfolio manager Jun Bei Liu says the Black Friday sales should boost investor sentiment in the lead-up to Christmas. Liu notes that the S&P/ASX 200 consumer discretionary index gained seven per cent in November; it also rose by 1.2 per cent on Tuesday, contributing to the S&P/ASX 200’s rise above the 8,500-point level for the first time. Andrew Mitchell from Ophir Asset Management says Donald Trump’s presidential election win has prompted renewed optimism among investors in the US and Australia.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S ASX 200 CONSUMER DISCRETIONARY INDEX, TRIBECA INVESTMENT PARTNERS PTY LTD, OPHIR ASSET MANAGEMENT PTY LTD

WiseTech helps Aussie tech beat Nasdaq

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Original article by Joanne Tran
The Australian Financial Review – Page: 23 : 3-Dec-24

The S&P/ASX 200 Techology Index had gained 56.4 per cent so far in 2024. The index has outperformed the Australian sharemarket’s other 11 industry groups and the technology-focused NASDAQ-100 in the US, which has gained 24.4 per cent. WiseTech Global, Life360, Xero and Technology One are amongst the ASX-listed technology stocks that have rallied in 2024. Tim Riordan from Blackwattle Investment Partners says factors such as the strong financial metrics of tech stocks has bolstered investor support for the sector. He adds that concerns about the outlook for resources stocks has also prompted investors to favour the tech sector.

CORPORATES
STANDARD AND POOR’S ASX 200 TECHNOLOGY INDEX, NASDAQ, WISETECH GLOBAL LIMITED – ASX WTC, LIFE360 INCORPORATED – ASX 360, XERO LIMITED – ASX XRO, TECHNOLOGY ONE LIMITED – ASX TNE, BLACKWATTLE INVESTMENT PARTNERS PTY LTD

Australia warned it is lagging behind on cryptocurrency regulation

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Original article by Rhiann Whitson
abc.net.au – Page: Online : 26-Nov-24

The Australian cryptocurrency sector contends it is high time that the sector was properly regulated by means of legislation, with both businesses and consumers let down by a lack of regulation. The lack of legislation means that the Australian Securities Investment Commission is forced to take action case by case, with ASIC taking a number of enforcement actions against cryptobusinesses, claiming they have breached existing laws such as the Corporations Act. ASIC has noted that there are around 400 digital currency exchange changes registered with AUSTRAC, but that only about 40 crypto-related businesses are currently licensed with ASIC

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE

ASX tipped to test 8600 after shares surge

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Original article by Alex Gluyas
The Australian Financial Review – Page: 27 : 20-Nov-24

The benchmark S&P/ASX 200 briefly rose above 8,400 points for the first time on Tuesday. The local bourse’s rally has prompted Morgan Stanley to upgrade its forecast for the ASX 200 at the end of 2025 to 8,500 points; its previous year-end target was 8,100. Tony Sycamore from IG Markets is more bullish, suggesting that the ASX 200 could potentially be trading at 8,600 points by the end of next year. However, JP Morgan recently forecast that the index will fall to 7,900 points by the end of 2025.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, MORGAN STANLEY AUSTRALIA LIMITED, IG MARKETS LIMITED, JP MORGAN AUSTRALIA LIMITED

US election may hurt dealmakers

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Original article by Glenda Korporaal
The Australian – Page: 15 : 6-Nov-24

Mergers and acquisitions lawyer Sandy Mak from Corrs Chambers Westgarth says it is "hard to predict" just how the outcome of the presidential election will affect US investment in Australia and other countries. US companies are one of the largest foreign investors in Australia, and Mak says they could put plans to invest in Australia on hold if the election results in geopolitical uncertainty; she notes that corporate America has historically been wary of investing offshore in times of volatility and uncertainty.

CORPORATES
CORRS CHAMBERS WESTGARTH

Investors call time on ASX’s record rally

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Original article by Alex Gluyas
The Australian Financial Review – Page: 25 : 23-Oct-24

The Australian sharemarket has retreated from the record high of 8,384.5 points that it reached last week. The pullback follows a gain of 20 per cent over the last year, although Wall Street has risen by 39 per cent over the same period. Meanwhile, the benchmark S&P/ASX 200’s price-earnings ratio has risen from 14.4 times to 18.3 times over the last year. There is growing speculation that the market’s rally cannot be sustained, given that earnings growth is tipped to be flat in 2024 and just five per cent in 2025.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX