In today’s briefing:
- Last Week In Event SPACE: Soul Patts/Brickworks, Furukawa Battery, PCCW, TPG Telecom
- S&P/ASX 200 (AS51 Index) Ahead of 12 Aug RBA Decision: Markets Divided, but I Vote for a 35bps Cut
Last Week In Event SPACE: Soul Patts/Brickworks, Furukawa Battery, PCCW, TPG Telecom
- There is, or perhaps, was, imbedded value via the cross-holding. However, Soul Patts (SOL AU) & Brickworks (BKW AU)‘s combined market cap has increased 18% or A$3.1bn since announcing their merger.
- Furukawa Battery (6937 JP) is a VERY low-priced MBO-like transaction. The pricing process is unacceptable. It is a take-under. It is BAD process. But it’ll get done.
- For a company that has consistently spilled red ink at the stub level, there is no justification why PCCW Ltd (8 HK) would/should trade at a NAV premium.
S&P/ASX 200 (AS51 Index) Ahead of 12 Aug RBA Decision: Markets Divided, but I Vote for a 35bps Cut
- The Reserve Bank of Australia (RBA) meets on Tuesday, 12 August 2025, with a rate decision due at 14:30h AEST.
- Highlight: Markets are divided between a 0.25% and 0.50% rate cut. Discover my unique take, which differs from both expectations, and the reasoning behind it.
- Why Read: Fixed income and equity derivatives markets are sending conflicting signals. Dive into the historical market impact of each possible scenario to better navigate the uncertainty.
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