Trump Appears for the First Time Since Assassination Attempt

Good Morning,

Pharmac Minister David Seymour claims the drug-buying agency “burned a lot of energy” considering the Treaty of Waitangi as he directs Pharmac to refrain from doing so, Donald Trump, wearing a bandage partially covering his right ear, appeared in public for the first time since surviving an assassination attempt over the weekend, Apple releases iOS 18 public beta for iPhone — Here’s what’s new and how to get it.

Let's jump in.

Before The Bell

Markets

• Investors are expected to pour money into real estate stocks and mining companies as a soaring sharemarket and imminent US rate cuts prompt a rotation into unloved areas of the ASX. (AFR)

• European stocks fell and US equity futures pared earlier gains as disappointing corporate earnings weighed on sentiment. (BBG)

News Summary

• Pharmac Minister David Seymour claims the drug-buying agency “burned a lot of energy” considering the Treaty of Waitangi as he directs Pharmac to refrain from doing so. (Herald)

• Residents of the Coromandel town of Thames are fed up with the high price of petrol in their region, which they say is disproportionately high compared to nearby areas. (Herald)

• The scrapping of the Interislander ferry replacement project was one of the first decisions the coalition made after coming to power, but some details have sailed under the proverbial radar. (RNZ)

• Donald Trump, wearing a bandage partially covering his right ear, appeared in public for the first time since surviving an assassination attempt over the weekend. (Guardian)

• China's economy stumbled in the second quarter, official data shows, just as the country's top leaders gathered for a key meeting to address its sluggish growth. (BBC)

• Apple releases iOS 18 public beta for iPhone — Here’s what’s new and how to get it. (CNBC)

• Elon Musk has said he is planning to pledge about $45 million a month to a newly formed super PAC backing former President Donald Trump’s White House bid, the Wall Street Journal reported Monday, citing people familiar with the matter. (CNBC)

Deal Flow

Investments / M&A

• Labyrinth Resources, the Western Australian micro-cap gold miner with big-name backers, has agreed to buy the Vivien gold project in Western Australia. (AFR)

• Elmo’s US owner tests buyer appetite, two years on from $486m buy. (AFR)

Equity Raises

• Temperature-controlled storage and logistics giant Lineage Inc. is seeking to raise as much as $3.85 billion in its initial public offering, according to a person with knowledge of the matter. (BBG)

• Philippine casino operator Hann intends to raise about $200 million in an initial public offering, according to people with knowledge of the matter, which would make it the country’s biggest listing this year. (BBG)

Debt

• Politics has helped breathe new life into one of bond traders’ most beleaguered bets, but only the Federal Reserve can give it a real turbo boost. (BBG)

Daily Picks

• All Blacks attack coach Leon MacDonald demands improvement ahead of San Diego test. (Stuff)

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