Stocks and the North Island are Shaky

Good Morning,

Thousands feel 5.4 magnitude quake near Tokoroa, Kaipara mayor stands by decision to ban karakia at council meetings, Northland company fined $220k after worker has finger amputated, Pakistan Poised to Pay $1 Billion Bond as Default Risk Lingers, Stocks Decline, Dollar Steadies Ahead of Jobs Data, and Chinese cities ease COVID curbs as virus keeps spreading.

Let's jump in.

Before The Bell

Markets

• The S&P/ASX 200 eased 0.7 per cent, but ended the week 1.3 per cent higher in the second week of consecutive gains. (AFR)

• America's manufacturing sector contracted in November for the first time since May 2020, adding to mounting evidence this year's aggressive monetary tightening cycle is having its desired effect on inflation. (AFR)

• US and European stocks futures fell along with Asian equities as traders awaited a jobs report later Friday for clues on the Federal Reserve’s next policy steps. (BBG)

• Traders Start Taking Notice as China ETF Rebound Gets Extreme. (BBG)

News Summary

• An earthquake has rattled many households across the North Island on Friday evening. A 5.4 magnitude quake struck 20km southeast of Tokoroa, shortly after 6pm. It occurred at a depth of 159km. (Stuff)

• Former Sydney school teacher Chris Dawson has been sentenced to 24 years in prison for killing his wife Lynette and disposing of her body more than 40 years ago. (9 News)

• After monkey trial, Elon Musk wants to put brain implant in humans. (9 News)

• Japan scored a controversial winner as they staged another extraordinary World Cup comeback to top Group E ahead of Spain and reach the last 16. (BBC)

• A senior official has said that up to 13,000 Ukrainian soldiers have been killed since the start of Russia's invasion. Mykhailo Podolyak, an adviser to Ukrainian President Volodymyr Zelensky, said between 10,000 and 13,000 troops had died. (BBC)

• Musk Suspends Ye From Twitter After Offensive Image Post. (BBG)

Deal Flow

Investments/ M&A

• Agricultural chemical giant Corteva Inc. agreed to buy biologicals firm Stoller Group for $1.2 billion to accelerate its expansion into the growing market for nature-based crop protection products. (BBG)

• Auckland Mayor Wayne Brown has raised the possibility of selling the council’s 18.09% shareholding in Auckland Airport, in a move he said could raise nearly $2 billion (NZD). (NBR)

• Italian energy company Eni SpA is considering a takeover of private equity-backed oil and gas explorer Neptune Energy Group Ltd., people familiar with the matter said, in what would be a rare upstream acquisition by a European major amid the broader industry shift to renewables. (BBG)

• NYSE-listed consulting giant Accenture has acquired Mercury Capital-backed marketing research services business FiftyFive5, spelling a big payday for the Sydney PE firm’s investors. (AFR)

• Chinese private equity investor Hillhouse Capital is making a serious play for Australian clinical research organisation George Clinical as part of an auction due to come to a head in the coming weeks. (AFR)

Equity Raises

• PT Nusantara Sejahtera Raya, the operator of Indonesia’s largest movie theater chain Cinema XXI, is considering an initial public offering in Jakarta that could raise as much as $1.1 billion, according to people familiar with the matter. (BBG)

Debt

• China has ordered its top four state-owned banks to issue offshore loans to help developers repay overseas debt. (RT)

Love our newsletter? Please share it with your friends, family, colleagues or anyone who needs to stay on top of the market.

Also, if you have any feedback or questions, don't hesitate to hit us up via email or Instagram.