Billionaire Raphael Geminder faces backlash on Pact delisting plan
Pact said on Tuesday that it would hold an extraordinary general meeting on June 12 for a vote to delist, citing low liquidity in the stock and the costs of maintaining an ASX listing. Geminder holds 87.9 per cent of the company.
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The Age
2 hours ago
- The Age
ASX finishes higher as banks, retailers rise; James Hardie shares plummet
Welcome to your five-minute recap of the trading day. The numbers The Australian sharemarket finished higher on Wednesday after a flurry of company earnings results as gains by the big four banks and the nation's retailers more than offset a plunge by building materials maker James Hardie and losses by energy stocks and CSL. The S&P/ASX 200 closed up 21.80 points, or 0.3 per cent, to 8918, having shrugged off early wobbles by lunchtime. Seven of its 11 industry sectors advanced, with the banks, consumer discretionary stocks and real estate investment trusts leading the gains. The index had lost 0.7 per cent on Tuesday, its steepest drop since August 1. The Australian dollar slipped 0.1 per cent to US64.45¢. The lifters The big four banks all posted solid gains. Commonwealth Bank, the nation's biggest and the biggest stock on the ASX, rose 0.8 per cent. Westpac added 2.5 per cent, NAB climbed 3.7 per cent and ANZ was up 2 per cent. Financial stocks make up almost a third of the entire ASX, meaning their performance has a major influence on the market overall. Loading Consumer discretionary stocks also advanced. Wesfarmers, owner of Kmart and Officeworks, rose 2.6 per cent, electronics retailer JB Hi-Fi was up 2 per cent and furnishing chain Harvey Norman added 1.2 per cent. The Lottery Corp jumped 7 per cent after revealing $749.3 million in operating full-year earnings, down 9.4 per cent from its record jackpot year in 2024.
AU Financial Review
2 hours ago
- AU Financial Review
Louis Vuitton and its luxe peers head to Sydney's North Shore
Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts.
West Australian
2 hours ago
- West Australian
Euroz Hartleys doubles profit as Canaccord buys Wilson Advisory
Euroz Hartleys has nearly doubled its annual profit, enhancing its investment credentials amid interest from Bank of Montreal. The ASX-listed, WA stockbroker said the 88 per cent surge in full-year net profit to $10.3 million came on a revenue rise of just 10.6 per cent to $98.7m and was aided by increased activity by its dealmakers. Euroz Hartleys, which services mainly mid-tier resources companies, said revenue from its deal underwriting and equity raisings grew 14 per cent to $38.5m as it participated in $1.6 billion of deals during the 2025 financial year, up $200m on the previous year. However, it described the market for raisings as 'mostly overall lukewarm', and still off its peaks of a couple of years ago. Euroz Hartleys has been linked to a potential tie-up with Bank of Montreal, confirming on Tuesday it was 'in the early stages of discussions regarding potential opportunities within the Australian market'. The financial results were filed as Canada's Canaccord Genuity announced the purchase of east coast wealth management and advisory firm Wilsons Advisory, which only recently opened an office in Perth. Canaccord, which bought Perth broker Patersons Securities six years ago, said the acquisition 'supports the company's strategy of increasing the scale of its wealth management operations and enhancing its capital markets capabilities in a key growth market'. Wilsons pulls in about $81m of revenue a year and has $16.7b under advice. Chief executive Brad Gale said the Canaccord tie-up delivered a more 'powerful Australian wealth management and capital markets business with greater scale, broader capabilities, and a stronger platform to support our clients while creating more opportunities for our people'. Euroz Hartleys shares closed nearly 3 per cent better at 98¢, valuing the group at $161.5m. Euroz merged with Perth rival Hartleys in 2021.
