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Will the RBA's expected Rate hike affect the Melbourne Cup?

November 07, 2023

Good Morning,

NZ Shares continue to rise, Westpac profit drops, TSB appoints new chief executive, Mining start-up Earth AI seeks $20m raise, EIG hits out at AustralianSuper as Origin $20 billion takeover battle fires up, Reserve Bank of Australia expected to increase interest rate to 4.35 per cent from 4.1 per cent, Machinery manufacturer Scott Technology undervalued, Kiwi cervical cancer screening device company TruScreen, will look to raise capital, again.

Let's jump in.

Before The Bell

Markets

  • NZ Shares continue to rise (GR)

  • Reserve Bank of Australia expected to increase interest rate to 4.35 per cent from 4.1 per cent (AFR)

  • ASX closes near 7000 as healthcare & gold miners rally (AFR)

  • Oil ticks upwards after Saudi Arabia & Russia stick to output cuts (RT)

  • China's first deficit in foreign direct investment signals West's 'de-risking' pressure (RT)

  • Asia shares rise on hopes of early rate cuts (RT)

News Summary

  • Ian Foster's family reportedly confronted by knife-wielding man at Rugby World Cup (Stuff)

  • The fake parking ticket: Genius advertising or just annoying? (Stuff)

  • Severe thunderstorm warning issued for central North Island (Stuff)

  • Coroner rules baby’s death at Auckland SkyCity a ‘preventable’ tragedy (Stuff)

  • Westpac profit drops (Stuff)

  • Costco 'definitely interested' in opening more NZ warehouses (Stuff)

  • TSB appoints new chief executive (Stuff)

  • China relationship crucial for Australian economy, says Albanese ahead of Xi meeting (9 News)

  • Laws that jail intoxicated Victorians will be scrapped on Melbourne Cup Day (9 News)

  • Rain and storms could be on the cards for Melbourne Cup Day (9 News)

  • Hong Kong’s IPO market is still in a slump despite an expected rebound (CNBC)

  • Fashion brand Boohoo breaks promises on ethical overhaul (BBC)

Deal Flow

Investments / M&A

  • EIG hits out at AustralianSuper as Origin $20 billion takeover battle fires up (AFR)

  • Saudi Arabia has proposed investing up to $5 billion in IPL (BBG)

  • Last stop for bus operator Ventura’s $1b sale; binding bids in (AFR)

  • Soprano Design, a communications software company, wants to take Whispir, a cloud-based communications technology company, private in a $62.9 million deal. (AFR)

  • Machinery manufacturer Scott Technology undervalued, Forbar says (NBR)

VC & Fundraising

  • Mining start-up Earth AI seeks $20m raise after lucrative deposit find (AFR)

Equity Raises

  • Australian bank Westpac tipped to seek $1.5b for new hybrid deal; hires big syndicate (AFR)

  • Chinese Electric Truck Maker Windrose is Seeking US IPO in 2024. The company aims to raise at least $200 million(BBG)

  • MST Capital Markets opens books for healthcare artificial intelligence company Enlitic’s $136m IPO (AFR)

  • Kiwi cervical cancer screening device company TruScreen, will look to raise capital, again (NBR)

Daily Picks

  • Young 'thugs' throw petrol bombs and fireworks at police in 'unprecedented levels of violence' (SKY)

The Daily Deck is sponsored by Industrial Equity, LLC

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