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Asia

Australian Shares Fall; Telstra Group Says External Investigation Confirms Network Timing Issue as Cause of July Outage

Australian shares fell on Wednesday, tracking losses on Wall Street.The S&P/ASX 200 Index fell 0.97%, or 88.30 points, to close at 8,978.40.Brent crude oil futures ​climbed over $95 per barrel after the US conducted fresh airstrikes in Iran. Gold fell to around $4,330 per ounce.Overnight on Wall Street, the Nasdaq Composite fell 1%, the Dow Jones declined 0.8%, and the S&P 500 fell 0.7%.On the domestic front, Australia's gross domestic product (GDP) grew 0.4% in the June quarter on a seasonally adjusted, chain volume basis, after a 0.3% growth in the March quarter, according to data released by the Australian Bureau of Statistics. The GDP rose 2.1% compared with a year earlier.The Australian Industry Index rose 22.7 points in August to negative 3.5 in seasonally adjusted terms after a period of highly volatile conditions since the energy crisis began, according to a report released by the Australian Industry Group.In company news, Telstra Group (ASX:TLS) released the findings of an external expert investigation into its July mobile network outage, confirming the company's previous conclusion that the incident was triggered by a technical issue.Wesfarmers' (ASX:WES) incoming chair Ken MacKenzie acquired 4,000 shares in the firm for a consideration of AU$79.45 per share on Aug. 28.Lastly, Corporate Travel Management (ASX:CTD) logged AU$0.127 in earnings per share for fiscal 2026, compared with a loss of AU$2.453 a year ago. For the 12 months ended June 30, revenue was AU$665.9 million versus AU$635.8 million previously.

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Asia

Wesfarmers Incoming Chair Boosts Stake

Wesfarmers' (ASX:WES) incoming chair Ken MacKenzie acquired 4,000 shares in the firm for a consideration of AU$79.45 per share on Aug. 28, according to a Wednesday Australian bourse filing.MacKenzie now indirectly holds 12,148 securities in the firm.MacKenzie will succeed Michael Chaney as chair from the conclusion of the firm's annual general meeting, expected to be held on Oct. 29.

ASX:WES
Asia

ASX Midday Sector Update: Energy Stocks Advance, Consumer Discretionary Sector Struggles

Energy stocks advanced nearly 2% at midday Tuesday.Woodside Energy Group (ASX:WDS) gained almost 2% in recent trade.On the flip side, the consumer discretionary sector struggled, shedding nearly 3%.Wesfarmers (ASX:WES) shares were down almost 4% in recent trade.

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Asia

Australian Shares Fall; Wesfarmers Fiscal 2026 Adjusted Earnings, Revenue Up

Australian shares fell on Thursday as strong inflation data stoked concerns over interest rates.The S&P/ASX 200 Index fell 0.98%, or 89.60 points, to close at 9,038.20.Overnight on Wall Street, the Nasdaq Composite edged lower 0.1% while the Dow Jones fell 0.2%, after the personal consumption expenditures index in the US rose 0.2% in July compared with ​the prior month, showing that the US Federal Reserve's preferred inflation measure is still hot.Brent crude oil futures ​fell to trade around $87 per barrel as diplomatic efforts continued to resolve the conflict in the Middle East.On the domestic front, Australia's household spending rose 1.1% month over month to AU$82.34 billion in July on a current price, seasonally adjusted basis, following a 1% increase in June, the Australian Bureau of Statistics reported.Private new capital expenditure in Australia fell 3.6% in the June quarter in seasonally adjusted terms to nearly AU$51 billion, according to a report released by the Australian Bureau of Statistics.In company news, Wesfarmers (ASX:WES) logged AU$2.534 in earnings per basic share excluding significant items for fiscal 2026, compared with AU$2.34 a year ago. For the 12 months ended June 30, revenue was AU$47.27 billion versus AU$45.7 billion previously.Qantas Airways (ASX:QAN) logged AU$0.957 in underlying EPS for fiscal 2026, compared with AU$1.098 a year ago. For the 12 months ended June 30, revenue and other income was AU$25.52 billion versus AU$23.82 billion previously.Lastly, Ramsay Health Care (ASX:RHC) logged AU$1.51 in underlying EPS for fiscal 2026, compared with AU$1.253 a year ago. For the 12 months ended June 30, total revenue and other income was AU$18.71 billion versus AU$17.8 billion previously.

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Asia

Wesfarmers' Outlook Commentary Suggests Solid Start to Fiscal 2027, Jarden Says

Wesfarmers' (ASX:WES) fiscal 2026 result was good and clean, in line with Jarden's estimates, and outlook commentary suggests a solid start to fiscal 2027, Jarden said in a Thursday note.The firm's fiscal 2026 revenue of AU$47.27 billion was up around 4% year-over-year, and beat Jarden's estimate by around 1%. It was in line with consensus expectations. Earnings before interest and taxes came in at AU$4.49 billion, up around 7% year-over-year and roughly in line with Jarden, and around 1% above consensus expectations.The positive trading update from Bunnings is better than expected, Kmart is in line, and Officeworks is a touch softer. Bunnings sales growth was slightly higher in the fiscal 2027 first half than in the fiscal 2026 second half due to drier weather.The brokerage assigned it a neutral rating with a price target of AU$79.30 per share.

ASX:WES
Wesfarmers Meets Fiscal 2026 Estimates, Raises Dividend
US Markets

Wesfarmers Meets Fiscal 2026 Estimates, Raises Dividend

Wesfarmers (ASX:WES) fiscal 2026 results met analyst expectations, with the retailer reporting strong earnings contributions from segments such as Bunnings, Kmart and WesCEF.The company reported AU$2.534 in earnings per basic share excluding significant items, up from AU$2.34 a year ago and broadly in line with analysts' expectations of AU$2.50 as polled by FactSet.Revenue rose to AU$47.27 billion from AU$45.7 billion a year ago, also meeting the AU$47.21 billion estimate from analysts polled by FactSet."Bunnings and Kmart Group's everyday low prices continued to drive sales and earnings growth. Disciplined execution of strategies helped offset cost pressures and delivered operating leverage across both businesses," said Managing Director Rob Scott.Bunnings' solid trading performance reflected the strength and resilience of its offer and ability to deliver growth through a range of market conditions," Scott added.The company also bumped up its dividend to AU$1.20 per share from AU$1.11 a year ago as a result of the increase in underlying profit.The company said that in the first seven weeks of fiscal 2027, Bunnings recorded slightly stronger sales growth than the second half of fiscal 2026, assisted by unseasonably dry weather in July, while Kmart Group's sales growth was in line with the prior half and Officeworks maintained positive but slightly softer growth.The company expects borrowing costs to be higher in fiscal 2027, reflecting higher levels of net debt, increased capital expenditure and a higher cost of funds.Jarden, which has a neutral rating with a AU$79.30 price target on Wesfarmers, said that the outlook commentary suggests a "solid" start to fiscal 2027, with Bunnings higher, Kmart in line, and Officeworks slightly softer than expected.

ASX:WES
Asia

Wesfarmers Fiscal 2026 Adjusted Earnings, Revenue Up

Wesfarmers (ASX:WES) logged AU$2.534 in earnings per basic share excluding significant items for the fiscal 2026, compared with AU$2.34 a year ago, a Thursday filing showed.Analysts polled by FactSet expected earnings of AU$2.50.For the 12 months ended June 30, revenue was AU$47.27 billion versus AU$45.7 billion previously, the Australia-listed retail giant added. Analysts surveyed by FactSet expected AU$47.21 billion.The board declared a final dividend of AU$1.20 per share, up from AU$1.11 a year earlier, payable Oct. 7 to shareholders on record as of Sept. 2.The company expects fiscal 2027 net capital expenditure of AU$1.3 billion to AU$1.5 billion.

ASX:WES
Asia

ASX Midday Sector Update: Materials Stocks Advance, Consumer Discretionary Sector Struggles

Materials stocks advanced nearly 2% at midday Monday.BHP Group (ASX:BHP) gained 1% in recent trade.On the flip side, the consumer discretionary sector struggled, shedding more than 2%.Wesfarmers (ASX:WES) shares fell 3% in recent trade.

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Asia

ASX Midday Sector Update: Utilities Stocks Jump, Consumer Discretionary Sector Struggles

Utilities stocks advanced nearly 3% at midday Wednesday.Origin Energy (ASX:ORG) gained more than 3% in recent trade.Meanwhile, the consumer discretionary sector struggled, shedding more than 1%.Wesfarmers (ASX:WES) shares fell nearly 1% in recent trade.

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Asia

ACCC Begins Initial Assessment of Proposed Wesfarmers, Built Group Holdings Joint Venture

The Australian Competition and Consumer Commission (ACCC) on Thursday began phase one, initial assessment, of a proposed incorporated joint venture named Built Living Holdings to be established by Wesfarmers (ASX:WES) and Built Group Holdings, the regulator's website showed.The joint venture will establish manufacturing facilities for the development of prefabricated residential apartment buildings.

ASX:WES
Asia

ASX Midday Sector Update: Consumer Discretionary Stocks Advance, Materials Sector Struggles

Consumer discretionary stocks advanced more than 1% at midday Tuesday.Wesfarmers (ASX:WES) gained 1% in recent trade.On the flip side, the materials sector struggled, shedding more than 2%.BHP Group (ASX:BHP) shares fell past 2% in recent trade.

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Asia

Consumer Demand Under Pressure, Fiscal 2027 Poised for Risk, Jefferies Says

Consumer demand has been under pressure due to lower confidence, higher interest rates and a soft property market but retailers are set to report fiscal 2026 results broadly in line with consensus, Jefferies said in a note on Monday.The investment firm said, however, rising competition and elevated wage inflation are expected to weigh on retailers' earnings in fiscal 2027.The outlook for the supermarket sector in fiscal 2027 remains sturdy, as food inflation is expected to help offset rising wage costs. Coles Group (ASX:COL), was picked as the preferred stock, with a buy rating and a raised price target of AU$26.50 from AU$25.50.Wesfarmers (ASX:WES) was downgraded to underperform, with price target of $73. Despite the retailer's strong businesses and productivity initiatives, Jefferies said the valuation appears expensive following recent share price gains in light of moderate earnings growth.Flight Centre Travel (ASX:FLT) had been performing well before the outbreak of war in the Middle East. Its outlook remains robust, supported by recovering travel demand and a stronger leisure business mix after COVID-19, while rivals continue to face challenges. The brokerage provided a buy rating and price target of AU$14.50.Domino's Pizza Enterprises (ASX:DMP) is progressing well with improving debt levels and cost reductions beginning to deliver results. Same-store sales growth, which has been weak due to unprofitable promotions, should gain pace as pricing measures take effect. Jefferies maintained its buy rating but lowered its price target to AU$26.00 from AU$28.50.

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Asia

Wesfarmers Agrees to Sell Cm3 Contractor Management Software Business to Achilles

Wesfarmers (ASX:WES) agreed to sell Cm3, its Australian contractor management software business within the Blackwoods Group of its Bunnings division, to UK-based supply chain risk and performance management company Achilles, according to a Friday statement by the company.The company did not disclose the financial terms of the deal but said it expects to recognize a gain from the sale upon completion of the transaction, pending approval from Australia's Foreign Investment Review Board.The company's shares fell past 1% in recent Friday trade.

ASX:WES
Wire

Wesfarmers Faces Return Uncertainty at Western Australia Project Amid Price Volatility, Jefferies Says

It remains unclear whether Wesfarmers (ASX:WES) will generate an acceptable return on investment from the Covalent Lithium project in Western Australia due to uncertainty and volatility in lithium prices, Jefferies said in a Wednesday note.The project is an integrated operation comprising the Mt Holland mine and concentrator and the Kwinana refinery.The company recently approved a final investment decision to expand the Mt Holland mine and concentrator capacity with joint venture partner Sociedad Quimica y Minera de Chile.The expansion will increase nameplate spodumene concentrate production to 760,000 tonnes per year from about 380,000 tonnes per year on a 100% basis, while reducing unit operating costs and accelerating cash flows.Wesfarmers said its share of capital expenditure for Mt Holland is estimated at between AU$645 million and AU$715 million in nominal terms to be funded through existing cash and debit facilities.The company incurred roughly AU$2.8 billion of costs related to the project, Jefferies said.Jefferies maintained a hold rating and AU$73 price target on Wesfarmers.Wesfarmers shares fell nearly 2% in midday trade Thursday.

ASX:WES
Asia

Wesfarmers, Joint Venture Partner Approve Final Investment Decision to Expand Western Australia Lithium Project

Wesfarmers (ASX:WES) and joint venture partner Sociedad Quimica y Minera de Chile approved a final investment decision to expand the Mt Holland lithium project in Western Australia, including the construction of a new integrated ore sorting facility, according to a Wednesday filing with the Australian bourse.Wesfarmers said its share of capital expenditure for the project is estimated at between AU$645 million and AU$715 million in nominal terms.The expansion will increase nameplate spodumene concentrate production to 760,000 tonnes per year from about 380,000 tonnes per year on a 100% basis, while reducing unit operating costs and accelerating cash flows, per the filing.Meanwhile, the new ore sorting facility will recover stockpiled material that is unsuitable for processing, adding about 3 million tonnes of spodumene concentrate production over the life of the operation.The construction of a second concentrator is expected to start in the second half of calendar 2027, with the first spodumene concentrate production volumes from the expansion due in the first half of calendar 2030, the company said.

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Asia

Market Chatter: Wesfarmers Unit Bunnings Revamps Loyalty Program

Wesfarmers (ASX:WES) unit Bunnings is launching an overhauled professional trades loyalty scheme with the addition of spending-based rewards, The Australian reported Sunday, citing Bunnings Managing Director Mike Schneider.The home improvement and hardware retailer is introducing a multi-tiered loyalty program that targets tradespeople, builders, and small and medium-sized enterprises in Australia and New Zealand, according to the report.The program includes a partnership with Qantas Airways (ASX:QAN) offering members opportunities to earn points, with benefits progressively increasing under a new six-tier membership model, The Australian reported.(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.)

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Asia

ASX Midday Sector Update: Consumer Discretionary Stocks Advance, Information Technology Sector Struggles

Consumer discretionary stocks advanced nearly 1% at midday Monday.Wesfarmers (ASX:WES) shares fell marginally in recent trade.On the flip side, the information technology sector struggled, shedding 2%.WiseTech Global (ASX:WTC) shares fell past 13% in recent trade.

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Japan

ASX Midday Sector Update: Energy Stocks Advance, Consumer Discretionary Sector Struggles

Energy stocks advanced nearly 1% at midday Tuesday.Woodside Energy Group (ASX:WDS) gained more than 1% in recent trade.On the flip side, the consumer discretionary sector struggled, shedding nearly 2%.Wesfarmers (ASX:WES) shares were down almost 2% in recent trade.

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Asia

Jarden Research Adjusts Wesfarmers' Price Target to AU$79.30 from AU$75.30, Keeps at Neutral

Wesfarmers (ASX:WES) has an average rating of underweight and mean price target of AU$75.68, according to analysts polled by FactSet.

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Asia

Market Chatter: Wesfarmers Lacks Near-Term Catalysts to Drive Earnings Upside, Macquarie Says

Wesfarmers (ASX:WES) lacks valuation support and has no near-term catalysts to generate any further earnings upside, Macquarie analysts said, the Australian Financial Review reported Thursday.In a note following Wesfarmers' strategy day, Macquarie analysts said the company's Bunnings and Kmart brands will continue to support returns for the group, alongside positive signals in the company's health and lithium divisions, AFR reported.The equity research firm downgraded its rating on Wesfarmers to neutral, while lifting its target price by AU$1 to AU$85, 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.)

ASX:WES

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