1/8 for NZ Stock Market

Good Morning,

GPG Renewables owners pull the brakes on $4b sale, NZ sharemarket drops for seventh time in eight days, Investors sceptical RBA will cut rates at all in 2024, Luxon makes like a CEO with public service targets for 2030, Heartland announces raise to support Aussie bank buy, Qoria brings in RBC Capital Markets as US bidder comes calling

Let's jump in.

Before The Bell

Markets

• NZ sharemarket drops for seventh time in eight days (GR)

• ASX inches higher; iron ore rebounds, APM sinks 30pc (AFR)

• Investors sceptical RBA will cut rates at all in 2024 (AFR)

• Former Japan FX tsar says yen weakening could trigger intervention at 'any time' (RT)

• FTSE 100 flat as gains in miners offset by caution ahead of economic data (RT)

News Summary

• Timaru students hedge business plan on common addiction (Stuff)

• Taranaki manufacturers get a taste of Hollywood (Stuff)

• Call for financial sanctions for leaving air passengers stranded (Stuff)

• Luxon makes like a CEO with public service targets for 2030 (NBR)

• Rideshare provider Lime claims big jump in usage (NBR)

• Heartland announces raise to support Aussie bank buy (NBR)

• Fair outcomes could be another CCCFA fiasco (GR)

• Australian households are world-leaders in interest rate pain (AFR)

• ASIC’s ex-chief accountant slams its big four audit reprieve (AFR)

• China says innovations, not subsidies, are powering EV edge as Yellen raises ‘overcapacity’ concerns (CNBC)

• At least 94 dead in Mozambique ferry disaster as packed vessel sinks, say officials (Guardian)

• ‘I want to do my part’: Argentinian doctors come to the aid of Italy’s hospital crisis (Guardian)

Deal Flow

Investments / M&A

• Qoria brings in RBC Capital Markets as US bidder comes calling (AFR)

• Terms out for Ansell’s $400m raising to acquire Kimberly-Clark unit (AFR)

• GPG Renewables owners pull the brakes on $4b sale (AFR)

• Next Capital talks up ‘critical infra’ angle at $30m-a-year Eptech (AFR)

• Best and final? Brookfield’s Origin bid passes all-important milestone (AFR)

• TUI shares rise on return to Frankfurt bourse (RT)

• Vivendi's Canal+ makes mandatory buyout offer for South Africa's MultiChoice (RT)

Equity Raises

• MinRes selling Develop Global stake; Bell Potter on the ticket (AFR)

• Palisade Impact raising $100m for bolt-ons, housing bets (AFR)

Debt

• China's Shimao faces liquidation suit over failure to pay $202 million loan (RT)

Daily Picks

• Geoff Wilson wants Bill Ackman’s very online notoriety (AFR)

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