PRE-MARKET AUSTRALIAN STOCKS NEWS: Updates from AMP and Bank of Queensland
The pre-market update covers AMP and Netwealth flows, BOQ’s mixed FY26 results, BHP developments, and company-specific leadership, property, guidance, and regulatory news.
News detail
AMP (AMP AT) - Co. Q3 platform net cashflows rose 20% Y/Y to AUD 1.5bln, superannuation and investments net cash outflows AUD 138mln, New Zealand wealth management net cashflows AUD 100mln, total AUM across Australian and New Zealand wealth businesses AUD 168bln; completed AUD 75mln of its AUD 150mln on-market share buyback. (Dow Jones Newsplus) Bank of Queensland (BOQ AT) - Co. FY26 (AUD) net rose 88% Y/Y to 250mln, rev. rose 1.2% Y/Y to 1.69bln, cash earnings fell 6.5% Y/Y to 358mln, dividend 0.20 (prev. 0.20), net interest margin 1.70% (prev. 1.64%), CET1 ratio 11.64% (prev. 10.94%), home lending fell 8% Y/Y, commercial lending rose 16% Y/Y; plans for sustainable return to mortgage growth in FY27. (Dow Jones Newsplus) BHP Group (BHP AT) - Co.'s Escondida mine reportedly reached a preliminary agreement with the Supervisors' Union, subject to member ratification, averting a strike, according to sources. Co. is cutting 300 jobs in the Pilbara as costs rise, with Australian iron ore producers facing a AUD 530mln diesel cost hit amid mounting Chinese pressure on prices. (Newswires/The Australian) Macquarie Group (MQG AT) - Co.'s Macquarie Capital head of infrastructure for Asia Pacific, Tom Butcher, has departed the investment bank. (AFR) Mirvac Group (MGR AT) - Co. CEO believes Sydney's premium office market is finding a bottom, with its 55 Pitt Street tower exceeding leasing expectations ahead of completion. (The Australian) Netwealth (NWL AT) - Co. Q1 funds under administration rose 15% Y/Y and 2.5% Q/Q to AUD 139.2bln, FUA net flows AUD 3.6bln, custodial inflows AUD 7.8bln, FUM net flows AUD 2.4bln, added 3,822 net new accounts and 21 intermediary relationships, with 715 Paradino subscribers at quarter-end; FY27 FUA net flow guidance AUD 17-19bln, excluding Paradino. (Dow Jones Newsplus) Regis Resources (RRL AT) - Co. Chairman James Mactier and director Fiona Morgan will retire from the board in November, with Ian Macliver appointed independent non-executive director and nominated chairman-elect; recruitment for Morgan's replacement is well advanced. (Dow Jones Newsplus) Treasury Wine Estates (TWE AT) - Co. reiterated FY27 earnings guidance, expecting EBITS at least equivalent to FY26, targeting EBITS margin expansion towards 25% and leverage below 2.0% by the end of FY28. (Dow Jones Newsplus) WiseTech Global (WTC AT) - Co. said the securities regulator will take no action against three employees, including co-founder Richard White, over alleged share trading offences, while an investigation into a non-WiseTech employee continues; regulator also took no action regarding the 2024 governance investigation. (Dow Jones Newsplus)
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