FINWIRES · TerminalLIVE
FINWIRES

Transurban's August Traffic Growth Slows, Jefferies Says

By

Transurban Group's (ASX:TCL) August traffic has continued to grow, although the pace slowed from June and July, with weakness in Melbourne traffic of concern, Jefferies said in a Thursday note.

North America, which accounts for less than 10% of the group's earnings, is performing ahead of expectations and is likely to remain within management's fiscal 2027 expectations, the investment firm said.

Transurban's fiscal 2027 distribution guidance of AU$0.72 per share assumes traffic trends remain broadly in line with June and July growth rates, so August's average daily traffic growth of 1.9% remains consistent with that guidance, Jefferies said.

However, rising fuel prices, which are expected to begin affecting motorists from September, increase the risk of near-term traffic softness.

Jefferies maintained its hold rating on Transurban with a price target of AU$13.11 per share.

What else is happening in Asia?

Asia

Market Chatter: China Airlines Plans Codeshare Partnership with Britain's Virgin Atlantic

China Airlines (TPE:2610) plans to launch codeshare partnership with Britain's Virgin Atlantic Airways, according to a Focus Taiwan report on Wednesday, quoting the airlines' president Kevin Chen.Initially, China Airlines, and Virgin Atlantic will share flight codes on each other's services and will subsequently tap into complementary route networks to faciliate better flight services between Taiwan and the UK, Chen said.China Airlines' sahares were up over 1% in Thursday's trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TPE:2610
Asia

China Petrochemical Unit Wins Court Ruling Revoking Land Seizure

China Petrochemical Development (TPE:1314) unit Core Pacific Development won a ruling from the Taiwan High Court, that revoked a criminal seizure order on a plot of land in Taipei, Taiwan.The land had been subject to four seizure rulings issued by the Taipei District Court at the request of the Taipei District Prosecutors Office.The company said the matter has no financial or business impact.

TPE:1314
Asia

Lotus Pharmaceutical's Unit to Reduce Capital by $70 Million

Lotus Pharmaceutical's (TPE:1795) subsidiary, Lotus International, will reduce its capital by $70 million, according to a Wednesday filing with the Taiwan Exchange.The reduction involves the cancellation of 70 million shares as part of the group's capital utilization plan.Following the reduction, Lotus International's share capital will stand at $16.1 million.

TPE:1795