This morning, OZL rejected an unsolicited, conditional and non-binding indicative takeover proposal of $25.00 per share in cash from BHP.
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While we thought 0.40% was the right level, it was perhaps our OCD that played into this (would have left rates at 0.75%), however Governor Lowe did what only 10% of economists thought he would and took a more aggressive stance.
BUB +40.21%: the infant formula company received FDA approval to sell tins into the US market today.
OZL -2.89%: Production numbers out today that came in at the bottom end of the guided range for Copper
In this weeks Market Matters Video Update, James & Harry cover portfolio performance for the month of November
RRL -3.29%: Hosted its first exploration update today and they’ve committed to doing these twice a year to improve communication with the market
CAJ +7.25%: the diagnostic imaging company hosted their AGM today with a solid performance update which helped the stock higher.
CXL +39.69%: Our most recent purchase in the Emerging Companies Portfolio crashed through all-time highs today after selling a portion of a subsidiary to a US ESG investment firm.
TRS -10.28%: shares in discount supermarket business The Reject Shop have been sold off hard today.
A better day for Aussie stocks playing out with the index tracking marginally higher at time of writing. The banking sector is providing some weight with ANZ down 0.74% to be the worst performer in the sector after passing on the full 0.25% cut to rates yesterday, while NAB is performing ‘relatively’ well down by just 0.08%. We trimmed our banking exposure in the Growth Portfolio yesterday, however have elected to retain current weightings for now in the income model.
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