PRE-MARKET AUSTRALIAN STOCKS NEWS: Arafura Rare Earths (ARU AT) entered into a binding offtake agreement with a global trading company to supply 850 tonnes per annum of NdPr oxide
The October 11 brief reports Arafura’s offtake, GQG’s figures, corporate transactions and plans, project uncertainty, a Xero appointment, and broker changes.
News detail
Arafura Rare Earths (ARU AT) - Co. entered into a binding offtake agreement with a global trading company to supply 850 tonnes per annum of NdPr oxide, with pricing linked to the global seaborne index. (Newswires) Cleanaway Waste Management (CWY AT) - Co. extended EQT AB's exclusivity period to October 19 as parties continue negotiating an implementation deed, while EQT does not intend to make its proposal terms less favourable. (Dow Jones Newsplus) Glencore (GLEN LN) - Co. is set to begin trading on the ASX on Wednesday via Chess Depositary Interests (CDIs), targeting around AUD 5bln in investor purchases over the next year as it seeks to narrow its valuation discount to BHP. (AFR) Goodman Group (GMG AT) - Co.'s proposed data centre conversion at Eastern Creek reportedly lacks a power agreement, while similar major projects for NextDC (NXT AT) and AirTrunk are also facing uncertainty. (The Australian) GQG Partners (GQG AT) - Co. reported assets under management of USD 149.2bln as of September 30, September net outflows of USD 2.3bln and quarterly net outflows of USD 11.1bln, alongside September investment performance of USD 2.4bln and quarterly investment performance of USD 4.4bln. (Dow Jones Newsplus) Peet (PPC AT) - Co. continues to unanimously recommend the merger with Ingenia Communities (INA AT). (Newswires) Southern Cross Electrical Engineering (SXE AT) - Co. executed a share purchase agreement to acquire 100% of Entire Operations Pty Ltd for total consideration of up to AUD 112.1mln. (Newswires) Xero (XRO AT) - Co. appointed former Micron Technology CEO, COO and CTO Mark Durcan as an independent non-executive director. (Dow Jones Newsplus) Broker Ratings/Price Target AGL Energy (AGL AT) - Price target raised 2.0% to AUD 8.10/shr by Macquarie. Computershare (CPU AT) - Price target cut 3.3% to AUD 41.55/shr by UBS. Domino's Pizza Enterprises (DMP AT) - Downgraded to Neutral from Buy by UBS, price target raised 4.5% to AUD 23.00/shr by UBS. Viva Energy (VEA AT) - Price target raised 6.7% to AUD 4.00/shr by Macquarie. Zip (ZIP AT) - Price target cut 6.4% to AUD 4.40/shr by UBS.
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