Trump becomes Clear Front Runner

Author

Toby Brown
July 23, 2024

Good Morning,

Health New Zealand faces $1.4 billion deficit, board replaced, US private equity firm Stonepeak to acquire New Zealand's Arvida Group in $746 million deal, China and Philippines reach tentative deal to defuse tensions at South China Sea flashpoint, EY builds buzz for Hive’s small-scale Hunter Valley battery project, Oscar claims maiden F1 grand prix victory in Hungary, Ryanair profits plunge by nearly half amid lower summer fares, Geopolitics overtakes inflation at top of sovereign wealth fund worry list

Let's jump in.

Before The Bell

Markets

  • NZ sharemarket down 0.1% amid takeovers (GR)

  • ASX falls led by energy, real estate stocks (AFR)

  • Oil prices rise as investors look forward to U.S. rate cuts (RT)

  • Geopolitics overtakes inflation at top of sovereign wealth fund worry list (RT)

  • European banks' earnings in spotlight after big share price gains (RT)

Earnings and Data

  • Ryanair profits plunge by nearly half amid lower summer fares (Guardian)

News Summary

  • Health New Zealand faces $1.4 billion deficit, board replaced (NBR)

  • 'Challenging year' as Oyster syndicate breaches covenants (NBR)

  • Meridian seeks bigger power cut from smelter (NBR)

  • The drilling robot set to drill 20,000 overhead holes (Stuff)

  • Struggling Australians turn to Buy Now Pay Later services to pay for essentials (9 News)

  • James Chessell appointed new AFR editor-in-chief after Michael Stutchbury calls time (9 News)

  • SA Police to randomly test drivers for cocaine use from next year (9 News)

  • China and Philippines reach tentative deal to defuse tensions at South China Sea flashpoint (Guardian)

  • Hong Kong is global trade hub for world’s most brutal regimes (Guardian)

  • Kamala Harris thrust into 2024 spotlight as Biden bows out (Guardian)

  • Most new HIV infections occurred outside sub-Saharan Africa for first time (Guardian)

Deal Flow

Investments / M&A

  • US private equity firm Stonepeak to acquire New Zealand's Arvida Group in $746 million deal (RT)

  • Suitors scramble to get across Anglo’s $7.5b Queensland coal auction (AFR)

  • Vodafone sells further 10% stake in Vantage Towers for 1.3 bln euros (RT)

  • Woodside splashes $1.35b in the US to become ‘global LNG powerhouse’ (AFR)

  • Crescent tries to pull off the near impossible at Pacific Smiles (AFR)

  • Haben raising $263m to bankroll QIC’s Westpoint shopping centre buy (AFR)

  • UK's Hammerson to sell stake in Bicester Village owner to LVMH backed private equity firm (RT)

  • Rentokil's shares soar on report of ex-BT chief looking to buy firm (RT)

Equity Raises

  • Heart medtech Anteris Technologies in $40m raise (AFR)

  • EY builds buzz for Hive’s small-scale Hunter Valley battery project (AFR)

  • BIopharmaceutical LTR Pharma launches capital raising, Alpine on ticket (AFR)

Daily Picks

  • M&A arb fund Harvest Lane keeps a ‘blacklist’ of boards to avoid (AFR)

  • Sea Eagles rookie Lehi Hopoate suffers gruesome eye socket injury (Nine)

  • Oscar claims maiden F1 grand prix victory in Hungary (Nine)

The Daily Deck is sponsored by Industrial Equity, LLC

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