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Episode 24: EOFY Tax Selling Unveils Bargains
Equities saw mixed performance this week, with AI mega caps hitting record valuations, despite broader market weakness and a cautious outlook from the Federal Reserve.
Stock Highlights
Insurance Sector: Suncorp (SUN) and Insurance Australia Group (IAG) experienced significant developments. Suncorp's sale of its banking arm to ANZ Group was seen as a positive move, enabling it to focus on general insurance. IAG announced major new reinsurance partnerships, marking a significant transaction for the company.
Collins Foods (CKF): Reported a 0.8% decline in same-store sales for May and June. Interim CEO Kevin Perkins expects challenging conditions to persist into 2025 due to higher mortgage rates, rents, energy bills, and inflation.
Bannerman Energy (BNM): Launched a $76 million share placement to support its Etango project in Namibia. This move aims to capitalize on the rising demand for uranium amid a global shift towards nuclear energy and interest in decarbonizing power grids.
ResMed (RMD): Shares plunged over 13% after Eli Lilly's weight-loss drug tirzepatide showed significant reductions in obstructive sleep apnoea severity, renewing concerns about the impact on ResMed's market.
Trade of the Week
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By MPC MarketsEquities saw mixed performance this week, with AI mega caps hitting record valuations, despite broader market weakness and a cautious outlook from the Federal Reserve.
Stock Highlights
Insurance Sector: Suncorp (SUN) and Insurance Australia Group (IAG) experienced significant developments. Suncorp's sale of its banking arm to ANZ Group was seen as a positive move, enabling it to focus on general insurance. IAG announced major new reinsurance partnerships, marking a significant transaction for the company.
Collins Foods (CKF): Reported a 0.8% decline in same-store sales for May and June. Interim CEO Kevin Perkins expects challenging conditions to persist into 2025 due to higher mortgage rates, rents, energy bills, and inflation.
Bannerman Energy (BNM): Launched a $76 million share placement to support its Etango project in Namibia. This move aims to capitalize on the rising demand for uranium amid a global shift towards nuclear energy and interest in decarbonizing power grids.
ResMed (RMD): Shares plunged over 13% after Eli Lilly's weight-loss drug tirzepatide showed significant reductions in obstructive sleep apnoea severity, renewing concerns about the impact on ResMed's market.
Trade of the Week