Tetratherix jumps on debut, capping strong week of ASX listings
Five of those companies – including Virgin Australia and Greatland Resources, a gold producer backed by the billionaire Forrest family – remain above their IPO prices as investors flock to newly listed stocks.
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The Age
11 minutes ago
- The Age
Wallabies pub king Bill Young splashes out on the Gem Hotel
The LVMH maisons, as they are called, will anchor the revamped luxe area of the Chatswood Chase shopping centre owned by the ASX-listed Vicinity Centres, which is undertaking a $200 million-plus redevelopment of the property. Vicinity is also co-owner of the Melbourne-based Chadstone Shopping Centre, which is also a mega site for luxe retailers. Once completed, Chatswood Chase will house a comprehensive collection of global luxury brands, complemented by a mix of premium Australian and international designer fashion labels, along with a selection of the popular athleisure sector and lifestyle brands. It comes as LVMH is said to be looking at another site in the city to add to its King and George Street maison. A weakening in sales for luxury retail brands in the past year has not deterred the opening of top-end stores, with Westfield also expanding its City mall with new luxe retail offerings at its Market and Castlereagh Street store, anchored by a flagship Chanel shop. Transport NSW offloads The NSW government's Transport NSW department is looking to raise some cash from the sale of two sites in North Sydney that it bought in 2017 as part of the Sydney Metro rail project. At the time, the department splurged about $300 million in North Sydney and Crows Nest on office blocks, shops and apartments. The plan was to demolish the sites for the new metro stations. It is now selling two excess properties at 194-196a Miller Street. Sitting opposite the new Victoria Cross Metro Station, adjoining Monte Sant' Angelo Mercy College, the properties comprise 961 sq m of land and 2274 sq m of net lettable area. They're being offered for sale in one line or individually. The properties are currently leased to Lendlease until December, roughly in line with the likely opening of the $1.2 billion Victoria Cross tower. The Colliers team of Tom Appleby, Joseph Lin and Charlie Gilmour are managing the sale. Rosebery to Rockdale Demand for industrial property is strong, with investors circling two prominent sites in the tightly held Sydney south. Fund manager and developer Centennial is testing the market with 74 Mentmore Avenue, Rosebery, being a hybrid commercial asset. No price guide was disclosed. The four-level, 3207-sq-m boutique building is fully leased to Vocus, an internet traffic provider, and is equipped to meet the growing demand for data centre expansion. Michael Crombie and Jackson Wray from Colliers are managing the sale on behalf of Centennial. Another site at 395 West Botany Street, Rockdale, is being offered by a private investor for about $28 million. Spanning 3816 sq m on a substantial 7206-sq-m site, the property is anchored by a new five-year lease to Repco, and until recently, was also home to Fitness First.
The Age
11 minutes ago
- The Age
ASX set to slide, Wall Street suffers more losses; Jackson Hole ahead
US stock indexes are losing ground as Walmart drags Wall Street down and hopes dim for cuts to interest rates. The S&P 500 fell 0.4 per cent and was on track for a fifth straight modest loss since setting an all-time high last week. The Dow Jones was down 137 points, or 0.3 per cent, in mid-afternoon trade, and the Nasdaq composite was 0.4 per cent lower. The Australian sharemarket is set to retreat, with futures at pointing to a loss of 14 points, or 0.2 per cent, at the open. The ASX jumped 1.1 per cent on Thursday. The Australian dollar was fetching US64.25¢ at 5.05am. Reporting season continues, with Guzman y Gomez among the companies due up today. Walmart was one of the market's heaviest weights and fell 5.1 per cent after reporting a profit for the spring that came up short of analysts' expectations, while Nvidia and other Big Tech stocks held a bit steadier following two days of sharp swings. The moves were stronger in the bond market, where Treasury yields rose after a report forced Wall Street to scale back hopes that the Federal Reserve may soon deliver relief by cutting interest rates. The report suggested growth in US business activity is accelerating and hit its fastest rate so far this year. That's good news for the economy, but the preliminary data from S&P Global also said tariffs helped push up average selling prices at the fastest rate in three years. That's a discouraging sign for inflation. Loading Taken all together, such data has historically aligned more with the Federal Reserve considering a hike in interest rates, rather than a cut, according to Chris Williamson, chief business economist at S&P Global Market Intelligence. No one expects a rate hike to happen soon, but the overwhelming expectation on Wall Street has been for coming cuts. Traders are betting on a nearly 72 per cent chance that the Fed will lower its main interest rate at its next meeting in September, according to data from CME Group. The hope on Wall Street has been that Fed Chair Jerome Powell may give hints on Friday that easier rates may be coming.
Sydney Morning Herald
11 minutes ago
- Sydney Morning Herald
Wallabies pub king Bill Young splashes out on the Gem Hotel
The LVMH maisons, as they are called, will anchor the revamped luxe area of the Chatswood Chase shopping centre owned by the ASX-listed Vicinity Centres, which is undertaking a $200 million-plus redevelopment of the property. Vicinity is also co-owner of the Melbourne-based Chadstone Shopping Centre, which is also a mega site for luxe retailers. Once completed, Chatswood Chase will house a comprehensive collection of global luxury brands, complemented by a mix of premium Australian and international designer fashion labels, along with a selection of the popular athleisure sector and lifestyle brands. It comes as LVMH is said to be looking at another site in the city to add to its King and George Street maison. A weakening in sales for luxury retail brands in the past year has not deterred the opening of top-end stores, with Westfield also expanding its City mall with new luxe retail offerings at its Market and Castlereagh Street store, anchored by a flagship Chanel shop. Transport NSW offloads The NSW government's Transport NSW department is looking to raise some cash from the sale of two sites in North Sydney that it bought in 2017 as part of the Sydney Metro rail project. At the time, the department splurged about $300 million in North Sydney and Crows Nest on office blocks, shops and apartments. The plan was to demolish the sites for the new metro stations. It is now selling two excess properties at 194-196a Miller Street. Sitting opposite the new Victoria Cross Metro Station, adjoining Monte Sant' Angelo Mercy College, the properties comprise 961 sq m of land and 2274 sq m of net lettable area. They're being offered for sale in one line or individually. The properties are currently leased to Lendlease until December, roughly in line with the likely opening of the $1.2 billion Victoria Cross tower. The Colliers team of Tom Appleby, Joseph Lin and Charlie Gilmour are managing the sale. Rosebery to Rockdale Demand for industrial property is strong, with investors circling two prominent sites in the tightly held Sydney south. Fund manager and developer Centennial is testing the market with 74 Mentmore Avenue, Rosebery, being a hybrid commercial asset. No price guide was disclosed. The four-level, 3207-sq-m boutique building is fully leased to Vocus, an internet traffic provider, and is equipped to meet the growing demand for data centre expansion. Michael Crombie and Jackson Wray from Colliers are managing the sale on behalf of Centennial. Another site at 395 West Botany Street, Rockdale, is being offered by a private investor for about $28 million. Spanning 3816 sq m on a substantial 7206-sq-m site, the property is anchored by a new five-year lease to Repco, and until recently, was also home to Fitness First.
