In today’s briefing:
- ASX 200 Sep 2026 Index Rebalance: Pre-Implementation Update
- Australia: Relative Value Opportunities and Pair Trades (21 Sep 2026)
- Perpetual (PPT AU) Rejects EQT’s Added Gruel
- Aussie Shorts [14 Sep 2026]: CBA, Northern Star Resources, Westpac, ANZ, Suncorp, Sigma Healthcare
ASX 200 Sep 2026 Index Rebalance: Pre-Implementation Update
- ASX 200 rebalance will be effective on 21 Sep 2026 before market open, with 5 ADDs and 5 DELETEs.
- Four of the five ADDs gained over the bridge window, led by Sunrise Energy Metals at +28.1%. Tuas was the only DELETE to gain.
- Historically, ADDs with a positive bridge were evenly split between first-week gains and losses. DELETEs mostly fell in the first implementation week after either bridge direction.
Australia: Relative Value Opportunities and Pair Trades (21 Sep 2026)
- Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.
- Highlights: In Australia, currently four pair trade opportunities persist across three sectors.
- Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.
Perpetual (PPT AU) Rejects EQT’s Added Gruel
- After its curious A$22.07/share self-destructing NBIO on the 15th July, EQT returned a fortnight later with a A$22.50/share NBIO for Perpetual Ltd (PPT AU), by way of a Scheme.
- With a 45.2% premium, and optically fair, I thought Perpetual might engage. Perpetual rejected terms on the 29th July. Then crickets. Reportedly Janus Henderson was circling; while EQT continued DD.
- EQT has returned with a A$22.50/share Offer, plus upward of a 1H27 dividend of A$0.60/share, without adjustment. Best & final. Perpetual says no dice. That’s the wrong decision.
Aussie Shorts [14 Sep 2026]: CBA, Northern Star Resources, Westpac, ANZ, Suncorp, Sigma Healthcare
- Australia’s ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 14th September, published on the 18th September.
- The largest industry net increase in the past week was A$0.2bn into “Banks“; the largest industry net decrease was A$1bn out of “Diversified Metals“. Net shorts decreased A$1.6bn week-on-week.
- Companies mentioned in this regular weekly report include: CBA (CBA AU), Northern Star Resources (NST AU), Westpac (WBC AU), ANZ (ANZ AU), Suncorp (SUN AU), and Sigma Healthcare (SIG AU).
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