1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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NZ central bank flags imminent hikes to counter energy shock after narrow hold. A split vote underscored a knife-edge decision, as policymakers warned rates will need to rise sooner and by more than expected to counter an energy shock rippling through the global economy.
Yearly inflation cooled down in April, coming in at 4.2% compared to 4.6% the month before... easing from a three year high. This was supported by lower fuel prices through the cut in the fuel excise tax. However, Housing was the largest contributor to annual inflation in April, with a 6.3% rise for the sector. Meanwhile, trimmed mean inflation edged up to 3.4% --- the highest since late 2024 and above the RBA's target range. Stephen Walters from Optimal Economics says overall cooling inflation is good news... but warns about rushing to conclusions on what the RBA will do next.
Nufarm (ASX:NUF) says it saw strong profit growth, improved cash flow and continued progress on deleveraging over the half year. It made a net profit of $38-million dollars for the half year to the end of March. That's up 28 percent from the same time a year ago. First half underlying profit jumped 35 percent to $52-million for the half. That was driven by higher margins, cost cuts, and stronger seed technology. It warned that instability in the Middle East is lifting the cost of ingredients, freight and energy.
Web Travel (ASX:WEB) posted a rise in annual earnings as strong growth in the Americas and Europe helped offset disruption from the Iran war. Total transaction value rose 20-percent for 2026 to $5.8-billion dollars. Revenue also increased 20-percent to $394.1-million dollars. The company's underlying net profit after tax was nearly $86-million dollars, up 8 percent.
KMD Brands (ASX:KMD) has launched a strategic review as strong sales growth at Kathmandu drove its third quarter. Group sales rose 6.6 percent over the nine months to April and third quarter sales rose 5.2 percent. The firm says geopolitical tensions, higher living costs and rising interest rates are pressuring consumer spending.
Endeavour Group (ASX:EDV) has flagged a major restructure of the group’s wine operations, but it will increase investment in its hotel network. The firm will sell the majority of its winery and vineyard portfolio, but will keep its strongest brands. It has also slashed its dividend payout and is targeting $300 million of cost savings.
Eagers Automotive (ASX:APE) says it's positioned for a record 2026 as surging order volumes and improving vehicle supply underpin earnings growth. It says its order bank has jumped 70 percent since December. The firm says annual turnover is up about 5 per through to the end of April.
Westpac (ASX:WBC) has been ordered to pay $26 million in civil penalties for failing to respond to customers who were facing financial hardship. ASIC initiated proceedings with the court finding that Westpac failed to respond to over 200 online hardship requests within the time required by law over nearly six years from 2017 to 2023. ASIC deputy chair Sarah Court said the penalty sent a clear message to Westpac and other lenders to do better when responding to customers who ask for help.
Gina Rinehart, has become a major shareholder in Southern Cross Media (ASX:SXL), taking a 9% stake in the company. Southern Cross owns the Seven Network, the Triple M and Hit radio brands and West Australian Newspapers. Kerry Stokes is the company's largest shareholder, with a 20 per cent stake.
