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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.

ASX:COLASX:DMPASX:FLTASX:WESASX:WOW

International8d ago

South Korea's Consumer Confidence Improves in July

South Korea's consumer sentiment improved in July, with the Composite Consumer Sentiment Index rising 0.2 points to 106.8, according to data from the Bank of Korea on Tuesday.The reading compared with the 106.6 level recorded in the previous month. A reading above 100 indicates optimism, while a reading below suggests a deteriorating outlook.The sub-index for current living standards fell to 93 from 94 in June, while the consumer sentiment index for future conditions rose to 98 from 97, both still in pessimistic territory.Meanwhile, inflation expectations for the upcoming 12 months fell 0.1 percentage point to 2.7%.

^KOSDAQKOSPI

Asia8d ago

Deterra Royalties' Portfolio Revenue Falls in Fiscal Q4

Deterra Royalties (ASX:DRR) said its fiscal fourth quarter portfolio revenue was AU$64.1 million, down from AU$80.4 million in the same period last year, according to a Tuesday Australian bourse filing.The company reported iron ore revenue royalties of AU$61.8 million for the quarter ended June 30, up from AU$60 million a year earlier, while capacity payments declined to AU$2 million from AU$20 million in the prior corresponding period, the filing said.The company said construction at Thacker Pass is advancing at full pace, with more than 95% of engineering complete, procurement over 70% finished, and first lithium carbonate equivalent production on track for late 2027, supported by the $1.21 billion in advances received under the US Department of Energy's $2.23 billion loan.

ASX:DRR

Asia8d ago

Bellevue Gold Reports Higher Gold Production, Sales in June Quarter

Bellevue Gold (ASX:BGL) produced 41,643 ounces of gold at an all-in sustaining cost (AISC) of AU$2,604 per ounce and sold 40,671 ounces of gold at an average realized price of AU$4,180 per ounce during the June quarter, according to a Tuesday Australian bourse filing.The company produced 38,941 ounces of gold at an AISC of AU$2,253 per ounce and sold 38,754 ounces of gold at an average realized price of AU$5,147 per ounce during the June 2025 quarter, an earlier filing showed.The company delivered fiscal year 2026 gold production at the upper end of its guidance range of 130,000 to 150,000 ounces while meeting its all-in sustaining cost (AISC) guidance of AU$2,600 to AU$2,900 per ounce, the filing said.The company has guided fiscal 2027 production to increase to between 150,000 and 170,000 ounces, with project AISC expected to range between AU$2,800 and AU$3,100 per ounce, the filing added.

ASX:BGL

Asia8d ago

IGO's Fiscal Q4 Sales Revenue Jumps 18% Sequentially Amid Higher Copper Sales Volume

IGO (ASX:IGO) reported fiscal fourth-quarter sales revenue of AU$141.4 million, up 18% from AU$119.7 million in the fiscal third quarter, driven mainly by higher copper sales volume and realized prices, according to a Tuesday filing with the Australian bourse.The company's June quarter underlying earnings before interest, taxes, depreciation, and amortization fell slightly to AU$117.8 million from AU$118.9 million in the previous quarter, per the filing.Spodumene production at the Greenbushes lithium mine was 387,000 tonnes for the June quarter, up from 351,000 tonnes in the linked period.The company said production at one of its processing facilities at Greenbushes is expected to restart in the coming days following a June fire that stopped production for roughly seven weeks.IGO's underlying free cash flow improved to AU$69.5 million in the June quarter from AU$35.8 million in the fiscal third quarter.

ASX:IGO

Asia8d ago

Market Chatter: Macquarie Group's Netrality Data Centers in Discussions to Be Acquired by TPG

Macquarie Group's (ASX:MQG) Netrality Data Centers is in exclusive discussions to be acquired by TPG in a deal that could value the data center operator at a range of $2 billion to $3 billion, Bloomberg reported Tuesday, citing sources familiar with the matter.The companies could strike a deal as early as this fall, although talks are ongoing and there is no guarantee of a final agreement, according to the report.Macquarie Group, Netrality, and TPG did not immediately respond to requests for comment from.(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:MQG

Asia8d ago

Tabcorp's Results to Be Overshadowed by Investigation Commentary and Higher Operating Costs, Jefferies Says

Tabcorp Holdings (ASX:TAH) is set to deliver strong second-half results but potential commentary on the impact of regulatory investigations into the wagering giant's compliance issues is expected to overshadow any earnings beat, Jefferies said in a note on Monday.Australia's financial crimes watchdog, AUSTRAC, launched a probe into Tabcorp in May regarding its ability to detect and prevent money laundering.The company is projected to face higher compliance costs over the next 12 to 18 months, with Jefferies forecasting an additional AU$10 million in fiscal 2027 operating expenses related to compliance. This would take annual operating expenses to roughly AU$720 million.The investment firm said it is less concerned about the size of any fine due to the gambling company's strong balance sheet but remains wary of the potential impact on earnings.Jefferies maintained its hold rating and cut its price target to AU$90 from AU$93.

ASX:TAH

Asia8d ago

Black Pearl Group Posts Higher Annual Recurring Revenue in Fiscal Q1

Black Pearl Group (NZE:BPG, ASX:BPG) reported fiscal first quarter annual recurring revenue (ARR) of NZ$27.2 million, up 95% year on year, according to a Tuesday Australian and New Zealand bourse filing.The company reported ARR of NZ$14 million for the June 2025 quarter, an earlier filing showed.The company's data-as-a-service business lost one customer during the quarter. Software-as-a-service revenue churn was 5.2%, up 0.2 percentage points year over year.The customer acquisition cost payback period increased 54% year over year to 6.3 months in the fiscal first quarter, reflecting a deliberate shift toward higher-value, lower-churn customers, with management expecting it to normalize to about 3.5 months.Annual recurring revenue per employee increased to NZ$461,524, representing a 75% year-over-year increase.The company reported an earnings before interest, tax, depreciation, amortization and movement in financial instruments loss of NZ$4.5 million in fiscal first quarter and expects losses to narrow to NZ$2.5 million to NZ$3 million in fiscal second quarter and NZ$1 million to NZ$1.5 million in fiscal third quarter.The company's Kiwi shares were down 3% in recent Tuesday trade.

ASX:BPGNZE:BPG

Asia8d ago

AFT Pharmaceuticals Says R&D Portfolio Targeting Multi-Billion-Dollar Market Potential

AFT Pharmaceuticals' (NZE:AFT, ASX:AFP) research and development portfolio is targeting a market potential in excess of $15 billion as the company works to strengthen its international operations, according to a Tuesday filing with the Australian and New Zealand bourses.The portfolio now covers eight patented projects, 24 off-patent injectables, and a range of projects in the early stages of commercialization, per the filing.The company is developing its business hubs in Australia, New Zealand, Singapore, Hong Kong, US, Canada, and the UK. This will allow certain parts of AFT's portfolio "to cover up to 50% of the global market directly," the company said.AFT's portfolio includes an intravenous iron therapy targeting a market as large as $7.4 billion, a room-temperature stable cream with a potential market greater than $1 billion, a medicine storage technology for which the market is estimated at up to $6 billion, and an infantile haemangioma medicine with a potential market in excess of $1 billion.In accompanying presentation materials, AFT Pharmaceuticals said it is targeting fiscal 2027 revenue of over NZ$300 million.The company's New Zealand-listed shares were up nearly 1% in recent Tuesday trade.

ASX:AFPNZE:AFT

Oil & Energy8d ago

US Oil Update: Futures Retreat as Middle East, Black Sea Supply Risks Recede

Crude futures plunged in after-hours trading on Monday, pulling back from a multi-session high, as immediate supply threats across key Middle Eastern and Black Sea crude exporting markets began to ease.Front-month West Texas Intermediate crude futures retreated 8.3% to $81.88 per barrel, while Brent futures plunged by 9% to $87.75/bbl.EBW Analytics strategists said on Monday that the market could return to an oversupplied balance if hostilities continue to ease, though risks remain elevated given the potential for the conflict to broaden.The US has held off on new military strikes against Iranian targets since Friday, following 13 straight nights of attacks aimed at degrading Tehran's ability to disrupt commercial shipping in the Strait of Hormuz.Iran, in response, reportedly signaled that it would stop carrying out attacks on its Gulf neighbors as long as the US also refrains from striking, as Tehran held talks with Oman over the Strait of Hormuz.On Monday, the US Central Command said that Washington's ongoing blockade against Iran has redirected 17 commercial vessels, disabled two, and boarded two to enforce compliance.Earlier on Monday, Iran's Foreign Ministry spokesman, Esmail Baghaei, said that while "it's possible that mediators share messages from the US side about current developments," no formal peace negotiations between Iran and the US are currently taking place.He said talks between Tehran and Muscat have no connection whatsoever with the US and are ongoing.However, Saudi Arabia's Ministry of Defense on Monday intercepted drones from Iraq and Yemen's Houthis targeting its oil facilities.Soojin Kim, research analyst at MUFG, said that although the pause in US military action has eased immediate supply fears, constrained maritime traffic across key export routes suggests geopolitical risk remains elevated.The defense ministry said in a social media post that the Gulf state's air defenses intercepted and destroyed several drones that targeted petroleum facilities in the country's Eastern Province and Riyadh region.On Monday, the Houthis also said they launched drone attacks on Saudi Arabian oil infrastructure in response to incursions by the Gulf state's drones.Yahya Saree, the Houthis' spokesperson, said that several targets in the supply and transport of crude oil from eastern Saudi Arabia to Yanbu were struck by several drones.Saudi Arabia has re-routed its crude output to Yanbu via its east-west pipeline to get around Iranian attacks on shipping in the Hormuz.Meanwhile, traffic through the Hormuz, through which 20% of the world's oil and liquefied natural gas supplies flowed before the conflict, remains restricted, with the latest shipping data showing only 29 confirmed crossings between July 24 and 26.Bab el-Mandeb, by comparison, recorded 100 verified crossings, with 51 vessels entering the Red Sea and 49 exiting.

Asia8d ago

Bremworth Appoints Permanent CEO

Bremworth (NZE:BRW) said Craig Woolford has been appointed as its permanent chief executive after serving in the role on an interim basis since April 2025, according to a Tuesday filing with the New Zealand bourse.

NZE:BRW

Asia8d ago

SomnoMed Co-CEO Steps Down; Fiscal 2026 Revenue Misses Guidance

SomnoMed (ASX:SOM) said Co-Chief Executive Amrita Blickstead stepped down, effective Monday, leaving former Co-CEO Karen Borg to assume the role of sole CEO and lead the company's global operations, according to a same-day Australian bourse filing after market hours.The company has also promoted Chief Transformation Officer Greg Knight to the role of chief operating officer, per the filing.The company reported preliminary unaudited fiscal 2026 revenue of AU$114 million to AU$115 million, falling short of its AU$119 million to AU$126 million guidance range, while earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected to land near the midpoint of its guided AU$10 million to AU$12 million range.The revenue shortfall was driven by weaker market conditions in Europe, changes in reimbursement policies and patient referral pathways, as well as the strengthening of the Australian dollar, the filing said.The company has also initiated a controlled market rollout of its new Virtus oral appliance, designed for obstructive sleep apnea patients who also experience sleep bruxism.The company expects high single-digit revenue growth in fiscal 2027 while maintaining EBITDA margins at levels consistent with fiscal 2026, the filing added.

ASX:SOM

Oil & Energy8d ago

Attack Hits Khor Mor, Northern Iraq's Largest Khor Mor Gas Field, Iran State Media Says

Commodities8d ago

PJM Board Orders Reliability Measures as Power Demand Accelerates

PJM will file two proposals with the Federal Energy Regulatory Commission as it expects large electricity loads to increase by 70 gigawatts by 2038, the grid operator said Monday.The proposals would establish a Reliability Backstop Procurement to attract new generation and an Interim Resource Adequacy Service to support large load growth while protecting reliability during periods of capacity shortages.PJM expects new large loads to increase by 70 GW by 2038, while 15 GW of generation has retired since 2022. The 2028/2029 capacity auction also ended 6,831 megawatts below the system's reliability requirement for the grid serving 67 million people.The board said the region needs additional power supplies without placing unnecessary cost burdens on consumers."The present trajectory of rapid load growth, tightening supply and rising capacity costs is not sustainable," the board said, adding that the "region needs substantial new investment in supply, and the central affordability question is how the costs of that investment should be allocated."PJM launched a bilateral contracting process with a June 9 request for proposals and expects the first buyer-seller matches in August. The process will continue into early next year and reduce the amount of new generation PJM needs to procure.The grid operator plans a one-time Reliability Backstop Procurement from Sept. 30 through Oct. 21, with results expected in early December.Winning projects can secure commitments of up to 15 years, while accepted offers will face a $555/MW-day cost cap, according to PJM.Eligible resources include new generation that adds new installed capacity and maximum facility output, qualifying Capacity Interconnection Rights created or transferred from units deactivated after April 10, 2026, and resources that failed to secure commitments in the 2028/2029 auction.The proposal also covers new annual demand response and distributed energy resources, provided aggregators demonstrate qualifying sites and contracts for the full 15-year commitment. Eligible projects must begin operating by June 1, 2032.Resource developers will pay for transmission network upgrades and include those costs in their offers.PJM will allocate procurement costs to Load Serving Entities in affected areas, while state regulators will determine how those costs apply across customer classes.The board also instructed PJM to exclude incremental new large loads from future Reliability Pricing Model auctions beginning with the 2029/2030 delivery year.The move aims to prevent existing customers from absorbing higher capacity costs created by new demand.PJM will create a Large Load Registry for customers with at least 50 MW of peak demand at one site or connected sites within a one-mile radius. The registry will improve load forecasts and transparency while protecting confidential information.Under the proposed Interim Resource Adequacy Service, new large loads without dedicated generation by June 1, 2027, or other secured supply will reduce demand before broader emergency load management measures begin during capacity shortages.PJM said the proposed cost allocation framework follows Ratepayer Protection principles supported by data centers, the White House and PJM governors.The board added that states will play a key role in assigning retail costs because PJM cannot allocate them directly to individual data centers.

Equities8d ago

Talos Energy Enters Offshore Mexico Farm-In Deal

Talos Energy (TALO) said late Monday it entered an agreement to farm into the Block 29 development in the southern Gulf of Mexico operated by Repsol through the acquisition of a 50% working interest.The company will acquire the stake for a contingent $30 million payment at final investment decision, a cash carry of up to $20 million on the next exploration well, and reimbursement of some pre-closing costs.The stake acquisition expands the company's resource base, strategic infrastructure, and establishes a platform for future exploration, according to a statement.The company expects to advance the project toward FID in 2027, and the deal is subject to regulatory approvals from Mexico, according to the company.

$TALO

Asia8d ago

Lark Distilling Fiscal Q4 Net Sales Jump 44% to AU$5 Million

Lark Distilling (ASX:LRK) reported a 44% increase in net sales to AU$5 million in the fiscal fourth quarter ended June 30, compared with the previous corresponding period, according to an Australian bourse filing on Monday after market hours.The company also reported domestic direct-to-consumer sales of AU$1.7 million, flat compared with the same period last year, while global travel retail recorded quarterly sales of AU$700,000, representing a 107% increase.Meanwhile, domestic business-to-business sales grew 8% year over year, driven by the encouraging early performance of the new signature whisky range.As of June 30, the company's cash at the bank stands at AU$14.3 million, with AU$11 million in cash term deposits and AU$5 million committed bank facility remaining undrawn.

ASX:LRK

Mining & Metals8d ago

Topaz Energy Misses Q2 Estimates, Raises 2026 Royalty Production Outlook

Topaz Energy (TPZ.TO) reported second-quarter adjusted net income of C$45.79 million, or C$0.29 per share, up from C$26.03 million, or C$0.17, a year earlier. It missed FactSet estimates of C$0.30 per shareThe oil and gas infrastructure and royalty company said total revenue and other income rose to C$111.21 million in the quarter from C$81.19 million. It missed FactSet estimates of C$122.00 millionDuring the second quarter, the company completed a C$38.7 million tuck-in royalty acquisition in its core operating area, adding developed and undeveloped royalty interests with multi-zone, liquids-rich natural gas and oil exploration upside.Topaz also declared a third-quarter dividend of C$0.35 per share, or C$1.40 per share on an annualized basis, representing a trailing annualized yield of 4.3% based on the company's current share price.In its guidance, Topaz said YTD 2026 average royalty production of 24,420 boe/d exceeds its previously announced 2026 royalty production guidance of 23,900 boe/d, reflecting strong performance and increased activity therefore Topaz has increased the annual average royalty production guidance range to 23,900 boe/d to 24,300 boe/d.Based on updated estimates, Topaz's 2026 exit net debt is estimated between $435.0 and $440.0 million, before consideration of incremental acquisitions, the company said.

$TPZ.TO

Commodities8d ago

US Natural Gas Update: Futures slump on Weakened Cooling Demand Forecasts

US natural gas futures extended losses in after-hours trading on Monday, with the front-month contract price falling as forecasts for cooler early-August weather combined with strong domestic production to reinforce expectations of a well-supplied market.The Henry Hub front-month contract fell 4.60% to $2.739 per million British thermal units, while the continuous contract lost 4.05% to $2.771/MMBtu.The Energy Buyers' Guide said the August NYMEX contract fell 10 cents to settle at $2.77/MMBtu with two trading sessions remaining before expiration, adding that the decline broke the sideways trading range that had persisted since early July and sent the prompt-month contract to its lowest level since 2021.Weather was the dominant bearish catalyst. The Commodity Weather Group forecast normal to below-normal temperatures across the central and eastern US for Aug. 1-5, reducing expected air-conditioning demand during a period that typically drives peak natural gas consumption.Aegis Hedging said Criterion data showed the Lower 48 cooled by 14 degrees Fahrenheit over the weekend, with the sharpest declines in the Northeast and Midwest, where temperatures in the one-to-five-day outlook fell by more than 17 degrees Fahrenheit.Current total demand for natural gas stood at 81.4 Bcf/d, up 2.7% year over year, Barchart, citing BNEF data, said.The weaker demand outlook comes as production remains elevated. Lower-48 dry gas production averaged 113.1 Bcf/d on Monday, up 3.7% from a year earlier.Feedgas flows to US LNG export terminals reached 18.1 Bcf/d, up 2.4% from the previous week, but under full capacity, as Freeport LNG undergoes maintenance expected to wind up in late August.

Wire8d ago

Brown & Brown Q2 Adjusted Earnings, Revenue Rise

Brown & Brown (BRO) reported Q2 adjusted earnings late Monday of $1.07 per diluted share, up from $1.03 a year earlier.Analysts polled by FactSet expected $1.08.Revenue in the three months ended June 30 rose to $1.68 billion from $1.29 billion a year earlier.Analysts expected $1.71 billion.The company's shares fell 1.8% in after-hours trading.

$BRO

Equities8d ago

Hess Midstream Raises Quarterly Distribution to $0.7888 per Class A Share, Payable Aug. 14 to Shareholders of Record Aug. 6

$HESM

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Commodities8d ago