Gaza hospitals face service cutbacks

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Admin
October 26, 2023

Good Morning,

Gaza hospitals face service cutbacks due to an impending fuel shortage, Deutsche Bank's shares surge 5% as they surpass profit expectations, Hong Kong eases property restrictions by reducing stamp duties after over a decade, Ukraine's winter-bound counteroffensive gains urgency, Russia has no immediate plans to change diesel export rules and Amazon Web Services is set to launch a European sovereign cloud.

Let's jump in.

Before The Bell

Markets

  • The New Zealand share market continued to lose ground as stocks were still boxed in by high interest rates and modest earnings expectations (Stuff)

  • RBA to break its monetary pause and raise the cash rate on Melbourne Cup Day to 4.35 per cent from 4.1 per cent (AFR)

  • BNZ lifts its standard one-year rate from 7.79% to 7.85% (Stuff)

  • ASX ends flat after hot CPI; Economists up RBA rate rise bet (AFR)

Earnings and Data

  • Strong earnings pave the way for the markets, with the Dow Jones gaining over 200 points on Tuesday, Microsoft reporting a surge in profits, and Snap shares rising as much as 20% (CNBC)

News Summary

  • Gaza hospitals stopping some services as UN warns fuel runs out tonight (BBC)

  • Deutsche Bank shares rise 5% after net profit beats expectation (CNBC)

  • Hong Kong slashes stamp duties, easing property curbs for the first time in over 10 years (CNBC)

  • Act questions National’s tax commitments as negotiations drag on (Herald)

  • Rotorua murder-accused man who has spent three months on the run has been caught and is now back in court (Herald)

  • ‘They’re running out of time’: Ukraine’s counteroffensive is gaining urgency as winter approaches (CNBC)

  • Russia has no plans yet to further ease diesel export rules (BBG)

  • ICG faces London suit over tech unicorn it backed with millions (BBG)

  • Australia’s hotter-than-expected inflation puts a hike in play (BBG)

  • UK regulators removed a cap on how much banks can reward star traders and dealmakers (WSJ)

  • Japan's 10-year yield hits new decade high on BOJ tweak speculation (RT)

  • Amazon Web Services to launch European sovereign cloud (RT)

Deal Flow

Investments / M&A

  • Damstra Holdings, the ASX-listed workplace management software company, has got plenty of interest. It received an offer of 30¢ (AUD) per share from Mitratech & ~25¢ (AUD) a share from Ideagen (AFR)

  • Macquarie to invest $275 Million in US internet firm SwyftFiber (BBG)

  • Templewater to acquire Singapore health units from Luye Medical (BBG)

  • Harvest Hotels, a regional pub roll-up business, has merged two of its funds (AFR)

VC & Fundraising

  • Five V Capital is trying to raise $700m (AUD) for a fifth buyout fund (AFR)

  • Harvest Hotels put a $15m raise to investors (AFR)

  • Brookfield explores raising funds for Middle East deals (BBG)

Equity Raises

  • AirAsia parent plans to raise more than $1 billion in debt, equity (RT)

Debt

  • Device Technologies, owned by PE firm Navis Capital, has raised $400m (AUD) from the debt capital markets (AFR)

  • Debt and scandal throw billionaire Drahi’s empire into turmoil (BBG)

Daily Picks

  • NZ First leader Winston Peters claims former PM Jacinda Ardern never told him of Christchurch terrorist’s email in a bizarre post (Herald)

  • Straight bat outta Compton: How LA gang members are leading the cricket charge in the US (Stuff)

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