11 stories mentioning ASX:GMG
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Information technology stocks advanced nearly 3% at midday Tuesday.Xero (ASX:XRO) gained more than 6% in recent trade.On the flip side, the real estate sector struggled, shedding nearly 2%.Goodman Group (ASX:GMG) shares fell nearly 1% in recent trade.
Australian shares plunged on Thursday as oil prices jumped after the US and Iran traded military strikes.The S&P/ASX 200 Index dropped 1.43%, or 124.80 points, to close at 8,592.90.Brent crude oil futures surged over 3% to nearly $98 per barrel after the US and Iran both said they targeted each other's military sites, casting a pall over hopes of a peace deal in the Middle East.On the domestic front, Australian total household spending in April was AU$79.42 billion, up 4.9% compared with April 2025, and down 1.1% month-on-month on a current price, seasonally adjusted basis, according to a report from the Australian Bureau of Statistics.Total new capital expenditure in Australia in seasonally adjusted terms was AU$52.57 billion in the March quarter, up nearly 15% on the same period last year, according to figures from ABS.In company news, HealthCo Healthcare and Wellness REIT (ASX:HCW) said the Unlisted Healthcare Fund and troubled hospital operator Healthscope reached an agreement with Bethesda Health Care for the Mount Private Hospital in Western Australia.Goodman Group (ASX:GMG) was selected as the lead development partner for Asamizodai-Araisono North Association, an association of local landowners and stakeholders, which is working on plans for a potential new data center campus in Sagamihara City in Japan.Lastly, SiteMinder (ASX:SDR) launched its SiteMinder Powered capability, which allows select hospitality technology firms to integrate the company's distribution engine directly with their own platforms. Hospitality operating system Mews, the inaugural partner under the new capability, will integrate SiteMinder's distribution engine natively into its platform.
Goodman Group (ASX:GMG) was selected as the lead development partner for Asamizodai-Araisono North Association, an association of local landowners and stakeholders, which is working on plans for a potential new data center campus in Sagamihara City in Japan, according to a Thursday statement.The association, Goodman, Nakajima Construction, a local general contractor, and Sagamihara City will collaborate on a master plan to address "land use, infrastructure requirements, environmental sustainability, and broader urban planning outcomes."Its shares fell 1% in recent trading on Thursday.
Australian shares fell on Tuesday as optimism around a potential deal to end the conflict in the Middle East wavered after fresh US strikes.The S&P/ASX 200 Index declined 0.39%, or 34.20 points, to close at 8,657.80.Brent crude oil futures rose around 2% to trade around $98 per barrel after the US military carried out strikes in Iran against targets including missile launch sites and boats, which the US characterized as defensive in nature.US Secretary of State Marco Rubio said negotiating a deal with Iran could "take a few days."On the domestic front, one in six Australian businesses was experiencing supply chain disruptions in May, with about 72% reporting a negative impact from current fuel prices or availability, according to a business conditions and sentiments report by the Australian Bureau of Statistics (ABS).ABS said 60% of businesses made changes to operations due to fuel prices or availability, with 48% absorbing cost increases and 11% increasing prices. Agriculture, forestry, and fishing recorded the highest proportion of businesses experiencing supply chain disruptions at 42%, followed by retail trade at 31%.Australian consumer confidence fell 0.3 points in the week of May 18 to 24 to 66.1 points, as confidence remains around historical lows since the series started in 1973, ANZ said. The four-week moving average eased 0.4 points to 66 points.In company news, Santos (ASX:STO) is set to prioritize upstream investment in the Moomba Central fields area in South Australia and deprioritize the broader Cooper Basin, targeting cumulative capital expenditure reduction of around AU$300 million from 2027 to 2030, and AU$150 million savings annually thereafter.Goodman Group (ASX:GMG) reported a work-in-progress value of AU$14.5 billion as of March 31, saying it expects the figure to reach around AU$18 billion by June. Data centers represent 73% of the March 31 work in progress. The work in progress is 37% pre-committed.Lastly, Infratil (ASX:IFT, NZE:IFT) swung to a profit of NZ$0.558 per share in fiscal 2026 from a loss of NZ$0.315 a year earlier. Revenue for the 12 months ended March 31 was NZ$3.04 billion, compared with NZ$2.86 billion a year earlier.
Goodman Group (ASX:GMG) Chief Executive Greg Goodman said Australia is competitive in the artificial intelligence sector, provided that infrastructure and power are available at "reasonable" costs, The Australian reported on Tuesday.Other parts of the world "are also getting more expensive with planning issues and grid issues," he noted.The hurdles in capacity development are getting higher in regard to infrastructure and costs, and both investors and customers want partners with capital, strong alignment, and a proven track record of delivery.Goodman predicted more demand for computing power in big cities as AI models shift from training to inferencing as AI adoption accelerates. He added that the firm was at the "customer stage" at key projects and demand was strong.(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.)
Goodman Group's (ASX:GMG) is set for earnings upside due likely to development completions, according to Citi analyst Howard Penny, the Australian Financial Review reported on Tuesday.Penny said the company's fiscal 2026 operating earnings per share target is not a ceiling but a floor, adding that it remains on track to grow its operating EPS by at least 9%, per the report.In addition, work in progress valued at AU$14.5 billion as of March 31 is expected to jump to about AU$18 billion by June, with around 73% accounting for data centers, according to the report.(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.)
Goodman Group (ASX:GMG) reported a work in progress value of AU$14.5 billion as of March 31, saying it expects the figure to reach around AU$18 billion by June, according to a Tuesday filing with the Australian bourse.The work in progress metric represents the total value of all the industrial, logistics, and data center real estate development projects the company has under construction.The company said data centers represent 73% of the March 31 work in progress. The work in progress is 37% pre-committed, reflecting an increase in the data center workbook which is primarily commenced before customer contracts are executed."We are actively managing procurement and contractor engagement across our supply chain given the potential impact of the current geopolitical environment on construction costs," Goodman Group said.
Here are the ASX-listed companies with the biggest losses.Insurance Australia Group (ASX:IAG): -4%, AU$7.82Block (ASX:XYZ): -3%, AU$96.49Xero (ASX:XRO): -2%, AU$74.65Wisetech Global (ASX:WTC): -1%, AU$37.11Goodman Group (ASX:GMG): -1%, AU$30.44Origin Energy (ASX:ORG): -1%, AU$10.95Telstra Group (ASX:TLS): -1%, AU$5.39APA Group (ASX:APA): -1%, AU$10.20QBE Insurance Group (ASX:QBE): -1%, AU$23.65Meridian Energy (ASX:MEZ): -1%, AU$4.81
Real estate stocks advanced nearly 3% at midday Thursday.Goodman Group (ASX:GMG) gained almost 4% in recent trade.On the flip side, the energy sector struggled, shedding past 1%.Woodside Energy Group (ASX:WDS) shares fell 2% in recent trade.
Goodman Group's (ASX:GMG) portfolio benefits should support sustained data center works-in-progress growth over fiscal 2026 to fiscal 2028, and the firm remains on track for 500 megawatts of data center projects in works in progress by fiscal 2026, Jefferies said in a Wednesday note.Its current and future data center development pipeline is estimated to be around 3 gigawatts. Jefferies' analysis also noted an additional eight projects, totalling around another gigawatt in capacity, that it tracked through various state planning portals, which are not yet referenced in Goodman's disclosures.The AU$14 billion of data center works in progress June 30 implies a development margin of around AU$5 billion or around 56%. Extrapolating this returns profile across the around 2.3 gigawatts of additional projects tracked implies over AU$30 billion of future margin.Goodman is relatively immune from project cancellations and community opposition, with 10 projects already underway.The investment firm retained its buy rating on Goodman and set a price target of AU$36.45 per share.
Real estate stocks gained 0.2% in midday trading Tuesday, as almost all other sectors declined amid a continued rise in oil prices and lingering tensions between the US and Iran.Goodman Group (ASX:GMG) was up almost 1% and Scentre Group (ASX:SCG) was marginally higher.Meanwhile, utilities was the weakest sector with a decline of over 3%.Origin Energy (ASX:ORG) slid more than 5% after reporting Monday that its March quarter production fell to 164.5 petajoules from 167.1 petajoules a year earlier.