Oil prices surge following Hamas attack

October 10, 2023

Good Morning,

Fonterra has increased the farmgate milk price forecast for this season, Act’s candidate Neil Christensen has died, the Victorian Premier was warned about the Commonwealth Games cost blowout months before it was cancelled, mobile phones have been banned in NSW high schools & Israel has said its retaliation has only just begun.

Let's jump in.

Before The Bell

Markets

  • The NZ markets dropped as the countdown to the election begins (GR)

  • The Aussie market closed up on the back of a surge in energy and gold stocks (AFR)

News Summary

  • Fonterra has increased the farmgate milk price forecast for this season (Stuff)

  • Act’s candidate, Neil Christensen, has died, meaning there will be a by-election for the Port Waikato electorate following the election (Stuff)

  • The Victorian Premier was warned about the Commonwealth Games cost blowout months before it was cancelled (9 News)

  • A senate inquiry has recommended a review of the Qatar flight decision (9 News)

  • Commonwealth Bank is looking at cutting almost 200 jobs (9 News)

  • Mobile phones have been banned in NSW high schools (9 News)

  • The ACCC’s decision on Brookfield and EIG’s takeover of Origin is expected today (AFR)

  • Stephan Drake is set to become CEO at Navigator Global (AFR)

  • Israel has said its retaliation has only just begun (BBC)

  • Oil prices have risen following the Hamas attack on Israel (BBC)

Deal Flow

Investments / M&A

  • Japan’s NTT has dropped out of the auction for cybersecurity company Versent, leaving Telstra in pole position (AFR)

  • Ramsay Health Care has lobbed a bid for Cura Day Hospitals (AFR)

  • The deadline for bids for Pacific Current Group is drawing closer (AFR)

  • Timaru-based honey producer The Mānuka Collective has acquired part of Ngāi Tahu’s Oha Honey (Stuff)

  • HSBC has bought Citi’s Chinese retail wealth management portfolio (BBG)

VC & Fundraising

  • Mining-focused buyout firm Appian has raised $2B (USD) for a new fund (BBG)

  • New Zealand Spirits brand Scapegrace is raising $8m (NZD) (NBR)

Equity Raises

  • Cipriania, the operator of celebrity-packed restaurants and members’ clubs, is seeking to raise as much as €500m (BBG)

  • Metro Bank has raised £325m in new funding (BBC)

  • Birkenstock is looking to price its IPO at the top of the range (BBG)

Debt

  • Metro Bank has refinanced £600m of debt (BBC)

Daily Picks

  • Barrenjoey is paying bankers’ bonuses in instalments (AFR)

  • What does Infratil’s CDC Data Centre valuation increase mean for AirTrunk? Find out here

The Daily Deck is sponsored by Industrial Equity, LLC

Reply

or to participate.