In today’s briefing:
- Quiddity Leaderboard ASX Dec25: Clear Signs of Pre-Positioning; Stay Away from the Crowds
- Northern Star Placement: Secondary Sell Down by Gold Fields; Tight Discount
- Enlarged Myer Stumbles, But Remains Confident
- Aureka Limited – A Victorian Revival
- Cochlear Ltd (COH AU): Earnings Recovery to Continue on Nucleus Nexa Implant Launch
Quiddity Leaderboard ASX Dec25: Clear Signs of Pre-Positioning; Stay Away from the Crowds
- In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the December 2025 index rebal event.
- We expect one change for ASX 50, one change for ASX 100, and four changes for ASX 200.
- The official index changes will be announced after the close on Friday 5th December 2025.
Northern Star Placement: Secondary Sell Down by Gold Fields; Tight Discount
- Northern Star Resources (NST AU) is looking to raise around US$725m in a secondary placement.
- The proceeds will be used to pay down Gold Fields.
- In this note, we will talk about the deal dynamics and run the deal through our ECM framework.
Enlarged Myer Stumbles, But Remains Confident
- While FY25 results for Myer revealed resilient sales, a step-up in costs was cause for concern though analysts generally believe management’s strategy reset remains on track.
- -Myer’s FY25 result disappoints on costs, shares weaken -Analysts posit it is still early in management’s multi-year transformation plan -Step-up in CODB costs is structural, cautions Ord Minnett -If all goes well, shareholders can expect significant step-up in dividends
Aureka Limited – A Victorian Revival
- Aureka Limited (ASX:AKA) is a junior gold exploration company with four projects spread across key current and historical gold-producing regions in the state of Victoria, Australia.
- The company was “rebooted” from the administration of Navarre Minerals Ltd (ASX:NML), with a new board and management team reviving the original gold projects in late 2024.
- These projects retain significant exploration potential upon which AKA is committed to testing with ongoing exploration planned throughout CY25.
Cochlear Ltd (COH AU): Earnings Recovery to Continue on Nucleus Nexa Implant Launch
- Cochlear Ltd (COH AU) expects to report FY26 underlying net profit of $435–460M, an 11–17% increase on FY25, up 5–11% on a comparative (cloud adjusted) basis.
- The Nucleus Nexa System has been launched in Europe and Asia Pacific in mid-June 2025 and will be launched in the U.S. by the end of Q1FY26.
- The company expects strong FY26 revenue growth in developed markets from the launch of the new Nucleus Nexa implant, with overall revenue and earnings growth weighted to the second half.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
