As we look ahead, the global and Australian markets are poised for a period of further critical data releases and key earnings reports.
Stay tuned as Azzet delves into the key events and reports that will shape the financial landscape in the coming weeks.
Let's get down to business
Forbes Australia Business Summit 2024: Forbes Australia has announced its third annual Business Summit, scheduled for November 19 at the Hyatt Regency in Sydney. The summit will feature prominent speakers like Peter Freedman AM, Craig Blair, Jennifer Child, and Cody Simpson, among others. The event aims to provide insights and inspiration on the biggest opportunities and challenges facing businesses today.
Australian Big Four Banks Full-Year Results: KPMG will release its analysis of full-year financial results for Australia's four major banks (NAB, CBA, ANZ, and Westpac) on November 8. The analysis will provide insights into the performance of these banks and the broader banking sector in Australia.
Cryptocurrency Market Movements: Bitcoin and other cryptocurrencies have rallied recently, with Bitcoin approaching US$70,000 and Solana outperforming Ether. As of 6pm (AEDT) Friday, 25 October, the price of Bitcoin (BTC) was approximately US$68,162.49. It has seen a 2.61% increase over the past 24 hours. The market will watch for any further developments in the crypto space.
G20: The 19th Heads of State and Government Summit of the Group of 20 will take place on 18-19 November 2024 in Rio de Janeiro, Brazil.
Key earnings reports coming
- Microsoft Corp. (MSFT) - Q1 2025 Earnings Report: Microsoft will announce its Q1 2025 earnings on October 30, 2024. Analysts will be keen to see updates on cloud services growth, AI development, and gaming performance.
- Meta Platforms, Inc. (formerly Facebook) is set to release its Q3 2024 Earnings Report also on Wednesday, October 30, 2024, after the market closes.
- Apple Inc. (AAPL) - Q4 2024 Earnings Report: Apple will report its Q4 earnings on Friday, November 1, 2024. Analysts expect adjusted earnings per share (EPS) of US$1.593 and revenue of US$94.215 billion.
A quick look at Australia's mining sector
BHP's Olympic Dam Copper Mine: BHP's Olympic Dam copper mine in South Australia temporarily halted operations due to damage caused by wild storms to electricity transmission towers.
South32 Production Ramp-Up: South32 increased production and maintained production guidance across its operations in the first quarter of the 2024-25 financial year (Q1 FY25).
Thiess Milestone: Thiess has successfully exported its first fleet of rebuilt trucks from Batam Island in Indonesia to Perth.
Golding Contractors and Stanmore Resources Deal: NRW Holding subsidiary Golding Contractors has signed a $1.6 billion mining services agreement with Stanmore Resources for the South Walker Creek open-cut coal mine in Queensland.
New Green Iron Consortium: A new consortium has been launched in South Australia to accelerate the green iron industry.
Core Lithium's Gold Discovery: Core Lithium has found an additional high-grade gold assay from its ongoing drilling program at the Shoobridge project in the Northern Territory.
Iluka Resources' Increased Production: Iluka Resources has reported an increase in zircon-in-concentrate (ZIC) and synthetic rutile production for the September 2024 quarter.
BHP's Native Title Agreement: BHP Mitsubishi Alliance (BMA) has entered into a native title project agreement with the Barada Barna Aboriginal Corporation (BBAC).
Updates from the luxury brands industry
LVMH's Sales Miss: LVMH, the parent company of Louis Vuitton, Dior, and Loewe, reported a 5% decline in fashion revenue for the third quarter. This miss has raised concerns about the impact of reduced China demand on the luxury sector.
Gucci's Marketing Shakeup: Gucci continues to restructure its operations, with Chief Brand Officer Alessio Vannetti leaving the company. This move is part of a broader effort to address sales pressures under new CEO leadership.
Alberta Ferretti's Leadership Change: Italian ready-to-wear group Aeffe has appointed Lorenzo Serafini as the new creative director for the Alberta Ferretti brand, folding its Philosophy line into Alberta Ferretti under Serafini's leadership.
Opening of Jacquemus' First US Boutique: The Paris-based brand Jacquemus celebrated the opening of its first boutique in New York's SoHo, drawing a massive crowd for the ribbon-cutting ceremony.
Lacoste's Sponsorship: Lacoste has announced its sponsorship of the Rolex Paris Masters tennis tournament, further asserting its sporting credentials and aligning with luxury brands' growing interest in tennis.
Mulberry's Corporate Restructuring: British handbag maker Mulberry plans to cut nearly a quarter of its corporate roles globally as it aims to return to profitability after fending off a takeover bid from Mike Ashley's Frasers Group.
In investment news
NuScale Power Shares Surge: Shares of NuScale Power jumped by 55% due to a series of nuclear deals involving major tech companies like Amazon and Alphabet. These deals have sparked interest in nuclear energy stocks, although NuScale itself hasn't secured any major deals.
Indonesia Bans iPhone 16 Sales: Indonesia has blocked Apple's latest iPhone due to failure to meet local content regulations. Apple has yet to fulfill its investment commitments in Indonesia, leading to iPhone 16 sales suspension.
ANZ Startups Raise $26.9 Million: Four ANZ startups collectively raised $26.9 million. Regional Victorian startup Conflux Technology led the funding round with an $11 million investment in its heat exchangers. Other startups focused on construction technology, software solutions, and instant diagnostic tests also secured fresh funding.
Disclaimer: This article provides general information and does not constitute financial advice. Always consult a professional advisor before making investment decisions.