Materials stocks advanced nearly 2% at midday Wednesday.
BHP Group (ASX:BHP) gained more than 2% in recent trade as copper prices posted a new record high.
On the flip side, the information technology sector struggled, shedding more than 1%.
Xero (ASX:XRO) shares fell past 3% in recent trade.
Paragon Care's (ASX:PGC) finalization of the "3-2-1" integration strategy should set the foundation for future growth, allowing management to focus entirely on growing profitability and expanding the company's offerings, Euroz Hartleys said in a note on Tuesday.The company now expects revenue of AU$3.7 billion, previously between the range of AU$3.6 billion and AU$3.7 billion, and underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) of AU$95 million to AU$100 million, previously between AU$97 million and AU$107 million, reflecting increased logistics costs and manufacturer pricing pressures arising from the Middle East conflict.The revision represents a 4.4% reduction to midpoint underlying EBITDA, now AU$97.5 million against Euroz Hartleys' prior AU$102 million estimate, with implied second half underlying EBITDA around 8.5% below the prior guidance midpoint.On balance, the potential Infinity Group receivership recovery is a positive. Even a partial recovery of AU$11.7 million to AU$15.8 million represents meaningful upside, with the full receivables balance having been previously written off in the first half of fiscal 2026.The investment firm retained its buy rating on Paragon Care but cut the price target to AU$0.39 from AU$0.52.
Guangdong Electric Power Development (SHE:000539) said the stake held by its controlling shareholder Guangdong Energy Group in the company has declined to 68.30% from 69.41%.The stake reduction stemmed from the conversion of 58.3 million A shares by bondholders of exchangeable bonds issued by Guangdong Energy Group, according to a Wednesday filing with the Shenzhen bourse.Shares of the power company were down 6% in recent trade.
Vysarn's (ASX:VYS) planned acquisition of NewGround is strategically consistent with its objective of building an integrated water services business, and it has reached a level of scale/diversification that positions it as a leading vertically integrated provider of end-to-end water solutions in Australia, Euroz Hartleys said in a Wednesday note.Vysarn entered into a binding share sale agreement for the acquisition of NewGround, which deals in industrial-scale irrigation systems, pumping systems, and ancillary technology, for a total consideration of up to 33 million Vysarn shares and AU$25 million in cash.The deal broadens its exposure beyond resources and utilities by establishing a new operating segment focused on water infrastructure, irrigation, facilities management, and related services. It provides greater earnings diversification, introduces more defensive revenue streams, and creates opportunities to leverage NewGround's capabilities across Vysarn's existing water services platform.The acquisition is expected to be immediately earnings-per-share accretive on a pro-forma basis.The investment firm retained its buy rating on Vysarn and placed the price target of AU$0.89 per share under review.