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<WIRE> Newcrest Mining (ASX:NCM) Rises Following Newmont Shareholders Acquisition Approval

Following approval of a significant acquisition by Newmont’s shareholders, shares of Australia’s Newcrest Mining (ASX:NCM) see an increase of up to 2.4% to A$25.88, marking their highest level since September 27.

Newmont Corp has revealed that over 96% of shareholder votes were cast in support of its proposed A$26.2 billion acquisition of Newcrest Mining.

There is a scheduled vote on the deal set for October 13 by Newcrest shareholders.

The stock of Newcrest Mining had seen a 22.5% increase this year, up to its last close.

Newcrest Mining is an Australian mining company specializing in the exploration, development, and mining of gold and copper deposits globally.


<WIRE> Wisr Announces Chair Retirement (ASX:WZR)

Wisr (ASX:WZR) has made an announcement regarding a change in their upper management.

John Nantes, the current Chair of Wisr, has indicated his plans of not seeking re-election at the company’s ensuing Annual General Meeting (AGM).

As a result of Nantes' decision, Matthew Brown is expected to assume the position of Chair on a permanent basis.

Wisr is an Australia-based credit service that provides personal loan products and financial wellness apps.



<WIRE> JP Morgan Holds Positive Stance on Suncorp (ASX:SUN) over Insurance Australia Group

Analysts at JP Morgan have maintained a more positive perspective on Suncorp (ASX:SUN), a prominent Australian insurer, compared to its competitor, Insurance Australia Group.

Suncorp is viewed as more conservative in its guidance and seems to face fewer obstacles from reinsurance costs and natural hazard allowances.

The brokerage further claims that Suncorp appears cheaper based on valuation.

Comparative updates on reserve strengthening by Insurance Australia Group during its Annual General Meeting present more challenges and solidifies JP Morgan’s preference for Suncorp.

Currently, Suncorp’s shares have risen by 1.2% while Insurance Australia Group’s shares have jumped by 3%.

Suncorp is a major Australian insurance company with a wide range of offerings across various sectors.


<WIRE> Liontown Resources (ASX:LTR) Drops on Extended Due Diligence for $4.2 Billion Albemarle Acquisition

Shares of Liontown Resources (ASX:LTR), an Australian company, fell up to 4.11% to A$2.8, recording their lowest value since September 7th.

The stock had its largest intraday percentage decrease since September 1st, marking a second consecutive session of losses.

Liontown, a producer of battery minerals, announced that it would prolong its exclusive due diligence period by one week for its proposed A$6.6 billion ($4.23 billion) buyout by U.S-based company, Albemarle.

A total of 3.9 million shares changed hands, in comparison to the 30-day average volume of 24.2 million shares.

Despite the current fall, the stock has increased by over 120% year-to-date as of the last close, according to the analysts' average ratings which is equivalent to a ‘hold’, and their median price target which is A$3.00.

Liontown Resources is an Australia-based company that mainly focuses on the production of battery minerals.


<WIRE> Seek (ASX:SEK) Ascends as JP Morgan Upgrades to 'Overweight'

Shares of Australia’s employment service provider Seek (ASX:SEK) have seen an increase of 2.2% at A$23.2.

The steady climb can be attributed to JP Morgan’s decision to upgrade the company’s status from ‘neutral’ to ‘overweight’, while keeping the price target at A$27.

JP Morgan’s analysts predict that the yearly volume trends of Seek (ASX:SEK) are poised to benefit from a less competitive market environment.

The brokerage continues to hold its position at the midpoint of the FY24 outlook range in sales, EBITDA, and NPAT.

Out of 13 analysts, eight rate the stock as ‘buy’, three deem it a ‘hold’, while two advocate selling.

Their median price target rests at A$26.85.

By close of the previous year, the company’s stock had risen by 8.5%.

Seek (ASX:SEK) is an Australian-based online service company, specialising in employment and career-related services.


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<WIRE> UBS Elevates Refining Margin Forecasts, Price Targets on Ampol (ASX:ALD) and Viva Energy (ASX:VEA)

Financial services firm UBS has increased refining margin forecasts for fuel retailers Ampol (ASX:ALD) and Viva Energy (ASX:VEA).

The company is predicting a significant jump in refining margin, between 12%-22%, as it foresees the market tightness in 2023 continuing into 2024.

They have also upgraded their EPS expectations for both Ampol and Viva in the range of 3%-19% for fiscal 2024 and 2025.

In addition to this, UBS raised its price target for Ampol from A$32.60 to A$33.20 and the price target for Viva Energy from A$3.35 to A$3.40.

Shares of ALD and VEA are currently up 0.5% and 1.8% respectively.

Ampol (ASX:ALD) is an Australian fuel company involved in refining, distributing and marketing petroleum products.


<WIRE> Australian Technology Stocks (ASX:SQ2) Achieve Over 3-Week High due to Influential Wall Street Trends

Australian technology stocks are witnessing rising trends as they’ve experienced an increase of as much as 1.3%, resulting in their highest performance since September 18.

This sub-index is mirroring gains on Wall Street following the release of minutes from the latest U.S.

Federal Reserve’s meeting.

The minutes reveal a sense of caution among policy makers, which has resulted in investor optimism for steady rates.

ASX-listed shares of Block (ASX:SQ2) climbed nearly 2% to record the highest since September 21.

Additionally, Xero (ASX:XRO) marked a 1.8% rise in its third consecutive session of gains, while WiseTech Global’s (ASX:WTC) shares ascended 0.9% to record the highest since September 29.

The sub-index has witnessed a healthy rise this year, showing an increase 25.9% as of the last close.

Block (ASX:SQ2) is an Australian company listed on the ASX that specializes in technology advancements.



<WIRE> Upcoming Results Indicate Peak Earnings for Australian Banks, States UBS - Including ANZ Group (ASX:ANZ), Westpac (ASX:WBC), and National Australia Bank (ASX:NAB)

Analysts at UBS have forecasted that the nearing results for Australian banks may signify peak earnings.

This peak is anticipated to be supported by rising net interest incomes generated from higher interest rates.

The banks are predicted to record strong expansions in their net interest margin.

UBS expects ANZ Group (ASX:ANZ) to report the most robust results with an 11 basis points margin expansion and a 15% increase in FY32 cash net profit after tax.

National Australia Bank (ASX:NAB) is projected to report a second-half cash NPAT of AUD 3.7 billion and a diluted cash EPS of AUD 1.06.

While Westpac (ASX:WBC) is set to declare their results on November 6th, National Australia Bank (ASX:NAB) will unveil its earnings on November 9th.

The country’s largest bank, Commonwealth Bank of Australia (ASX:CBA), is also poised to announce its first-quarter results soon.

The ANZ Group (ASX:ANZ) is one of the main banks in Australia, providing a range of banking and financial products and services to retail, small business, corporate and institutional clients.


<WIRE> Euro Manganese (ASX:EMN) Shares Gain on Government Support in Czech Republic

ASX-listed shares of Euro Manganese (ASX:EMN) surged up 16% to A$0.145, marking their best day since May 16, subject to the hold of the gains.

The Canada-based battery materials company announced its Chvaletice Manganese Project in the Czech Republic will receive support under the inter-governmental Minerals Security Partnership (MSP).

Approximately 655,673 of the company’s shares changed hands, contrasted with the 30-day average volume of 207,279.

Despite the positive news, the stock’s position remains ~65% lower year-to-date as of the last close.

Euro Manganese is a Canada-based company that specializes in producing battery materials.