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11 stories mentioning ASX:SEKUpdated 25d ago

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Asia

New Zealand Shares Rise; NZX Appoints CEO

New Zealand shares ended higher on Wednesday while most Asian shares saw losses after Tuesday's Wall Street sell-off.The S&P/NZX 50 Index rose 0.46% or 63.49 points to close at 13,929.67.Overnight, the S&P 500 fell 0.7%, the Nasdaq lost 1.3%, while the Dow Jones was down 0.2%.In domestic news, prices paid by producers of goods and services in New Zealand in the June quarter saw a 4.1% increase compared with the same period last year, according to a report released by Stats NZ.Also, a total of 41,054 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 36,340 to 43,585 MT, according to data from the trading platform.Elsewhere, housing affordability in New Zealand has returned to its long-term average due to several years of lower property values, decreasing mortgage rates, and rising household incomes, according to the Cotality Housing Affordability Report.In corporate news, Seeka (ASX:SEK, NZE:SEK) said its current Chair Mark Dewdney will step down from the role on Thursday, and that its board appointed Hayley Gourley as successor.NZX (NZE:NZX) appointed Hishaam Mirza as chief executive, effective Sept. 14.

^NZ50ASX:SEKNZE:NZXNZE:SEK
Asia

Seeka Chair to Step Down, Successor Named

Seeka (ASX:SEK, NZE:SEK) said its current Chair Mark Dewdney will step down from the role on Thursday, and that its board appointed Hayley Gourley as successor, according to a Wednesday New Zealand bourse filing.Dewdney will remain a director of Seeka, per the filing.The company's Australian shares were down almost 3% in recent Wednesday trade, while its New Zealand shares added 2%.

ASX:SEKNZE:SEK
Asia

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.Block (ASX:XYZ): +6%, AU$117.98Seek (ASX:SEK): +5%, AU$14.65Xero (ASX:XRO): +6%, AU$81.50Wisetech Global (ASX:WTC): +5%, AU$43.18EchoIQ (ASX:EIQ): +4%, AU$1.66Southern Cross (ASX:SXE): +4%, AU$4.73Insurance Australia Group (ASX:IAG): +4%, AU$8.10SKS Technologies (ASX:SKS): +3%, AU$9.42SRG Global (ASX:SRG): +3%, AU$3.62Tasmea (ASX:TEA): +3%, AU$9.40

ASX 200ASX:EIQASX:IAGASX:SEKASX:SKSASX:SRGASX:SXEASX:TEAASX:WTCASX:XROASX:XYZ
Asia

Update: Seek Fiscal 2026 Adjusted Attributable EPS, Revenue Up; Shares Fall 16%

(Updates to add stock movement in the headline and the last paragraph)Seek (ASX:SEK) logged AU$0.557 in adjusted basic earnings per share attributable to owners of the company for fiscal 2026, compared with AU$0.435 a year ago, a Wednesday filing showed.Analysts polled by FactSet expected about AU$0.552.For the 12 months ended June 30, sales revenue was AU$1.28 billion versus about AU$1.1 billion previously, the Australia-listed online employment marketplace operator added. Analysts surveyed by FactSet expected AU$1.19 billion.The company's board declared a final dividend of AU$0.25 per security, up from AU$0.22 a year earlier, payable Oct. 1 to shareholders of record as of Sept. 3.Seek guided for fiscal 2027 adjusted profit of about AU$185 million to AU$215 million on revenue of about AU$1.21 billion to AU$1.28 billion.The company's shares fell past 16% in recent Wednesday trade.

ASX:SEK
Asia

SEEK Says Sale Process of SEEK Growth Fund's Stake in Employment Hero Still in Progress, Shares Plunge 15%

SEEK (ASX:SEK) said the sale process of the SEEK Growth Fund's stake in Employment Hero is still in progress, according to a Wednesday Australian bourse filing.The trustee board is also in talks with the fund's manager on strategy and priorities, including investment plans for the fund's next phase, likely including the near-term sale of investments valued at over AU$1 billion, and incentives that support ongoing liquidity.It said it would provide further details once the arrangements are finalized, which is expected to be before the end of the year.SEEK's shares tumbled 15% in recent trading on Wednesday.

ASX:SEK
Asia

Seek Fiscal 2026 Adjusted Attributable EPS, Revenue Up

Seek (ASX:SEK) logged AU$0.557 in adjusted basic earnings per share attributable to owners of the company for fiscal 2026, compared with AU$0.435 a year ago, a Wednesday filing showed.Analysts polled by FactSet expected about AU$0.552.For the 12 months ended June 30, sales revenue was AU$1.28 billion versus about AU$1.1 billion previously, the Australia-listed online employment marketplace operator added. Analysts surveyed by FactSet expected AU$1.19 billion.The company's board declared a final dividend of AU$0.25 per security, up from AU$0.22 a year earlier, payable Oct. 1 to shareholders of record as of Sept. 3.Seek guided for fiscal 2027 adjusted profit of about AU$185 million to AU$215 million on revenue of about AU$1.21 billion to AU$1.28 billion.

ASX:SEK
Asia

Seek Says BlackRock Becomes Substantial Holder; Shares Up 4%

Seek (ASX:SEK) said BlackRock Group became a substantial holder of the company as of June 19 after acquiring a voting power of 5.07%, according to a Wednesday Australian bourse filing.BlackRock holds 18.2 million ordinary shares of the company.Seek's shares rose nearly 4% in recent trading on Wednesday.

ASX:SEK
Asia

SEEK Can 'Easily Achieve' Fiscal Year 2026 Yield Growth Guidance, Says Jarden

SEEK (ASX:SEK) could "easily achieve" its low double-digit yield growth guidance for fiscal year 2026 and is expected to grow by 13.5%, according to a Thursday note by Jarden.Jarden has updated its forecast for the fiscal year 2027 Australia-New Zealand business yield growth to 9% from 8.5%, but offset by its downgrade to the fiscal year 2027 volume assumption to negative 2.5% from flat.The research firm believes that the Australian labor market is past its peak, and currently expects the Australian unemployment rate to increase to 4.8% by June 2027, which is currently at 4.5%, resulting in a reduction to its assumption.Jarden maintained a buy rating on Seek and reduced its price target to AU$23.25 from AU$23.50.

ASX:SEK
Asia

SEEK's Employment Index Implies 2.5% Decline in Listing Volumes in Australia for Fiscal 2026, Jarden Says

SEEK (ASX:SEK) Seek Employment Index in Australia for April fell by 2.8% on a seasonally adjusted basis, following a 2.6% decline in March, and is down 2.1% in the fiscal 2026 second half year-to-date, and if underlying trends remain at current levels, this would imply a 2.5% decline in listing volumes in Australia for fiscal year 2026, according to a Friday note by Jarden.In New Zealand, the Seek Employment Index increased by 9.5% year-over-year for April on an underlying basis, following an 11.6% increase year-over-year in March, and is up 11.5% in the second half to date. The index fell 0.7% in April from March.If April's trends remain at current levels, this would imply a 9% increase in New Zealand listing volumes in fiscal year 2026.For CAR Group (ASX:CAR), Australian new car sales increased by 11.3% in April from 4.6% in March. Sales were up 5.1% on an annual basis for the fiscal 2026 second half year-to-date.REA Group's (ASX:REA) national listing volumes were down 19.4% as of its fiscal third-quarter update, reflected in Proptrack's data. However, new listings were strong in April across all major markets. It guided to a fiscal year volume decline of 1% to 3%.It assigned CAR Group an overweight rating with a price target of AU$29.50 per share, SEEK a buy rating and a price target of AU$23.50 per share, and REA Group a neutral rating with a AU$178 per share price target.

ASX:CARASX:REAASX:SEK
Asia

Seek Says BlackRock Group Ceases to be a Substantial Shareholder

Seek (ASX:SEK) received notice that BlackRock Group and its subsidiaries are no longer substantial holders of the company from April 30, according to a Monday Australian bourse filing.BlackRock Group and its subsidiaries became a substantial holder of the company on March 26, with a 5% total voting power, an earlier filing showed.

ASX:SEK
Asia

Seek Faces Increased Short-Term Competition, AI Risks, Jefferies Says

Seek (ASX:SEK) faces both short- and long-term risks, and could see increased competition when it sells its full stake in Employment Hero, which has 300,000 small and medium-sized enterprise customers across its job portal and app, Jefferies said in a Monday note.Artificial intelligence could result in a broad range of outcomes for Seek, as job ads are text-based and other platforms such as applicant tracking systems can also pair candidates with vacant positions, the equity research firm said.It noted that the Seek Job Ad Index is down around 2.5% in the fiscal year to date, compared with the company's forecast for relatively stable volumes.CAR Group (ASX:CAR) remains Jefferies' top pick in the classifieds sector, supported by a resilient and diversified earnings profile that should perform well even under softer macro conditions. The company is insulated from AI disruption due to its market leadership and rich data sets, while its investment investment in an AI hub will help it tackle any AI-native challengers, Jefferies said.Meanwhile, REA Group (ASX:REA) faces little competitive threat from Domain in the real estate classifieds market. Jefferies sees "a low risk of AI-driven disintermediation for REA, given its metadata advantage, product innovation, and integration into agents' workflows."The equity research firm cut its rating on Seek to hold from buy and lowered its price target to AU$15.90 from AU$24.80. It maintained a buy rating on both CAR Group and REA Group, but cut CAR's price target to AU$33 from AU$38.50, and lowered REA Group's price target to AU$192 from AU$203.The changes are part of a process to standardize valuation across the sector.Seek's shares were down nearly 3% in recent Tuesday trade, CAR Group's shares added about 1%, and REA Group's shares jumped almost 2%.

ASX:CARASX:REAASX:SEK

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