Australasian Equities

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Australasian Equities

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Core

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Weathering the Storms Suncorp (ASX: SUN) has taken a bruising from the latest Queensland and northern NSW supercell storms, but the update shows its reinsurance safety net catching the bulk of the blow, with net costs capped at their maximum event retention and further losses shifting to reinsurers. Claims are high and broker sentiment wobbled, yet the financial hit looks contained, the balance sheet remains insulated by a well-structured catastrophe program, and the sell-off reflects nerves rather than any cracks in the

Northern Star

Speculative

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Will Agnico Eagle Mines or another predator swoop on NST? Recent market scuttlebutt has rumours resurfacing that suggest global gold major Agnico Eagle Mines may be running a ruler over Northern Star. While we don’t base an investment case on takeover rumours, we can see why Agnico, or another global major, would be interested. Northern Star holds “crown jewel” assets in a Tier-1 jurisdiction (Down Under!), and it is currently trading at a valuation that looks attractive for patient investors, if one

Domino’s Pizza Enterprises

Core

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A Leaner Domino’s Getting Its House in Order Domino’s Pizza’s (ASX: DMP) AGM and presentation update were well-received, which spurred some broker upgrades. This follows a refinancing event earlier in November that provides additional flexibility to execute on a turnaround. While the headline numbers are still soft, there is some incremental improvement and for a stock as battered as Domino’s, that can be enough. The stock has climbed materially since our last technical update in early November, when we said, “We

Mirvac

Core

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A Strong Opening Act Mirvac (ASX: MGR) opens FY26 on a solid footing, mixing strong residential sales, resilient investment-portfolio metrics, and steady progress on their A$1.2 billion Harbourside tower – now well past halfway – as they balance genuine momentum against execution risk across a large development pipeline. The early surge in lot exchanges, firm pre-sales, and deep demand for premium waterfront stock shows the engine is running smoothly, but the reaffirmed guidance signals a company keeping their feet on the ground

Macquarie Group

Core

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A Soft Patch, But Far from a Hard Landing Macquarie Group (ASX: MQG) fell slightly after 1H26 result shows a business coming off the boil, with softer profit driven by a cooldown in their commodities business and a bump in green-asset impairments, yet the broader franchise remains in good shape as capital is recycled into long-duration, infrastructure-style opportunities such as the proposed US$7.5bn Qube acquisition. The balance sheet and annuity businesses continue to provide the steady footing needed to “play the long game”. In our last tech update

CSL

Core

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A Long Game, Not a Quick Win CSL’s (ASX: CSL) US$1.5 billion, five-year US manufacturing build-out signals a steady long-term bet on plasma-derived therapies. The project is aiming to lift yields and keep costs in check even as global demand tightens. The move deepens CSL’s US footprint and secures supply-chain resilience, but the financial uplift will take time to surface, while execution risks remain. In our last tech update on the 28th of October, we noted that “CSL has clearly continued to disappoint,

National Storage REIT

Core

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Brookfield Knocking on the Door National Storage REIT (ASX: NSR) jumped +19.5% after receiving an unsolicited takeover proposal from a consortium of Brookfield and GIC. The potential A$4 billion buyout on the table highlights the strategic appeal of NSR’s dominant Australia–New Zealand self-storage network. The proposal is still early-stage, conditional, and far from guaranteed. The situation sits in a “watch this space” zone as the board weighs valuation, due diligence conditions, and the merits of staying the course with a standalone

SRG Global

Core

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A nice contract haul This week’s announcement of $650 million in new contract wins is a hallmark of SRG’s operational consistency. The immediate share price reaction was positive, but as the stock was only trading modestly below record highs, constrained. Effectively, the numbers reinforce the likelihood of hitting FY26 targets already baked in, and the market has become accustomed to solid execution from the company. Look past the headline number and focus on the composition of these wins, and in our

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