Category: Weekly Wraps

For all weekly wrap posts

FINSOC Weekly Wraps Vol.19

• NAB has announced a planned $2.5 billion share buy back estimated to increase the bank’s ROE by 40 basis points.
• Scott Morrison has set a national adult vaccination target rate greater than 70% as part of its 4 phase plan to address the pandemic.
• Bitcoin ended the week on a 10 day winning streak, its longest since 2013.
• Volkswagen is in talks to repurchase Europcar in a deal worth $US3B to expand services to car rentals.
• Robinhood’s IPO debuted at $US38 on the NASDAQ earlier this week.

FINSOC Weekly Wraps Vol.18

• The NSW’s COVID-19 outbreak was declared a “national emergency”, marking the highest reported cases in more than a year.
• The Star has retreated from its $12 billion merger proposal for Crown Resorts citing uncertainty surrounding the royal commissions of the entertainment group.
• ASX 200 moves upwards steadily, increasing 0.63% this week.
• Zoom Video Communications Inc. makes deal to buy cloud-based call centre operator Five9 Inc in an all-stock deal worth $14.7 billion.
• Richard Branson and Jeff Bezos helmed the first two privately funded launches to suborbital space in the past month.

FINSOC Weekly Wraps Vol.17

• RBA announces to keep interest rates on hold at record low level of 0.1% until 2024
•OPEC rile over oil production curbs remains unresolved, with talks to resolve disagreement postponed indefinitely since Monday
• ASX falls as investors retreat from risky assets due to current delta variant COVID outbreak, fearing that economic recovery could stall.
• Tech stocks perform the worst this week, with Appen dipping 9% and Xero falling 2.4%.
• Dogecoin falls 7% after Youtuber and dogecoin investor Matt Wallace announces intention to move away from Dogecoin.

FINSOC Weekly Wraps Vol.16

• Australia underperformed against global equities by 9.6% in 2021. The Communication services sector gained 3.25%, while Utilities fell by 3.87% over the week
• Binance has been subject to intense regulatory scrutiny
• For the first time Ethereum has overtaken Bitcoin’s number of daily active addresses
• Stockland is closing in on a deal to add Queensland lifestyle villages group Halycon to its retirement living portfolio
• Morrisons has agreed to a 6.3 billion pound takeover deal by Fortress Investment Group
• Carpentria Resources has raised AU35.6 million to fund a banking feasibility study for its flagship

FINSOC Weekly Wraps Vol.15

• COVID case spikes result in 4 LGAs (Sydney, Randwick, Waverly, Woollahra) to lockdown, followed by a subsequent lockdown of Greater Sydney
• The ASX falls 0.83% this week. With the impending full lockdown, it could fall more
• Bitcoin nears $AU40,000. If mid-term EMAs cross below long-term EMAs, it would confirm a bearish market for Bitcoin
• Tech stocks gained the most over the week with the tech sector lifting 3% and Afterpay rising 12.9%
• Australian sports analytics company Catapult plans to acquire UK rival SBG Sports Software for $53 million. The acquisition will allow Catapult to improve services via SBG’s video and data analysis services

FINSOC Weekly Wraps Vol.14

• Federal Reserve Officials expect the central bank to begin raising interest rates next year, forecasting 2 hikes by 2023
• Scott Morrison and Boris Johnson have agreed to sign an in-principle agreement towards a free trade deal
• Bitcoin remains relatively resilient despite the US Federal Reserve announcing plans to increase interest rates twice in 2023 addressing fears of inflation
• Woolworths stock fell 1.6% after allegations of wage underpayments from the Fair Work Ombudsman
• JP Morgan has agreed to buy the online investment management platform Nutmeg, moving in line with its strategy to establish a standalone digital bank brand in the UK this year

FINSOC Weekly Wraps Vol.13

– Technology stocks lead ASX to reach a record high of 7312.3 points – Bitcoin bounces back from its lowest price since May – Meat and food processing giant JBS Australia rights a $175m deal to purchase Rivalea Australia – Top performers of the market for this week are Materials and IT, followed by Energy and Health Care sectors – Australia’s AAA credit outlook from changes from negative to neutral, reflecting Australia’s strong economic recovery credited to massive fiscal and monetary stimulus.

FINSOC Weekly Wraps Vol.12

• Australia’s economy’s exceeds expectations, at 0.8% larger than its previous peak pre-COVID. • The resources sector demonstrates immunity to economic challenges faced by other sectors, contributing to Australia’s trade surplus of more than $8b. • Bitcoin has taken a fall after Tesla CEO Elon Musk’s comments on Twitter suggesting he has “fallen out of love” with the world’s top cryptocurrency. • US e-commerce site Etsy has acquired popular peer-to-peer social shopping app Depop for A$2.1b.

FINSOC Weekly Wraps Vol.11

– Credit Suisse raises $2.6b to manage the collapse of Archegos Capital Management which lead to ~$6b in losses.- The ASX 200 comes out with a 0.08% gain after a substantial mid-week dip.- Joe Biden called for an increased capital gains tax rate for investors earning >US$1mil.- Lithium miners Orocobre Limited and Galaxy Resources Limited have agreed to merge with a combined value of $4 billion to attract global institutional attention.

FINSOC Weekly Wraps Vol.10

– Citigroup has decided to discontinue its Australian consumer banking products, ending a 36 year run to focus on its investment banking services in Australia. – The ABS has reported a drop in unemployment rate of 0.2%, down to 5.6% since February . – The ASX 200 continues to rise, ending on a 13-month high of 7063.5.- International: Coca-Cola Amatil shareholders voted in favor of a $9.8 billion acquisition offer from Coca Cola European Partners. – This week’s company spotlight studies how Crown Resorts Limited has navigated its way throughout regulatory controversies and restrictions amidst the pandemic.