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Core

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Westpac Steadies the Ship Amid Margin Pressure Westpac (ASX: WBC) posted a net profit of $6.92 billion, down 1% YoY and equating to $2.04 per share (excluding notable items), which was flat, but topped expectations by a few cents. NIM declined just 1bp to 1.94%, which was resilient. Net interest income, the bank’s bread-and-butter, was up 3% to $19.47 billion, as lending was up 6% and interest-earning assets increased by 3%. Non-interest income increased at a faster 5% clip to a

iShares China Large-Cap ETF

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The Trade Truce President Trump left his South Korean meeting with counterpart Xi Jinping and described the outcome as “truly great.” While much of the fine print is yet to be outlined, the high-level outcome was indeed positive. Here’s the thing, though, China looks to have got the better deal. For Chinese stocks, this is oxygen to climb the valuation mountain further. A one-year tariff truce removes the policy axe that’s been hanging, for some time, at least. For the iShares China

WiseTech Global

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Raid!!! WiseTech Global (ASX: WTC) tumbled -15.9% following raids by the Australian Federal Police and the corporate regulator on the company’s Sydney offices, with authorities reportedly after documents related to alleged trading by billionaire founder Richard White and three other employees from late 2024 to early 2025. Richard White has been no stranger to the media spotlight over the past 18 months, but investors (ourselves included) had hoped that was in the rearview mirror. No such luck for now, it seems.

St Barbara

Speculative

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Building Momentum at Simberi St Barbara’s (ASX: SBM) 1Q26 results mark a clear turning point as the miner pushes ahead with the Simberi Expansion Project in Papua New Guinea, tightening operations and laying the groundwork for a 13-year mine life and stronger margins. Though gold output of 11,158 ounces slightly missed internal forecasts, the company swiftly corrected early haulage bottlenecks, restoring momentum by mid-October. St Barbara is steering toward a key Final Investment Decision in FY26, which should position Simberi as

Ansell

Core

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Gloves On Ansell (ASX: ANN) was the standout and rallied +5.9% to an eight-month high after lifting their FY26 earnings outlook, buoyed by strong US demand, synergy gains from the Kimberly-Clark PPE acquisition, and ongoing cost efficiencies. The upgraded guidance signals operational momentum despite fresh tariff pressures, with management confident in offsetting higher import costs through price adjustments and sourcing flexibility. Continued buybacks, steady cash generation, and double-digit growth in core segments reinforce a disciplined recovery story built on execution. In our

Sandfire Resources

Speculative

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One Quarter From Net Cash and Exposed to Copper’s Upside Sandfire just printed $61m of debt reduction in a single quarter, bringing net debt to $62m from $345m a year ago. That’s a $283m deleveraging sprint while copper trades near highs. Management is showing admirable discipline, and the fortress balance sheet provides much optionality. A net cash position is just a quarter or two away. Meanwhile, production numbers ran ahead of internal plans, with FY production guidance intact. Sandfire is about

Domino’s Pizza Enterprises

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All in Bain Drama played out in Domino’s Pizza Enterprises (ASX: MDP), which rocketed as much as +17% after the Australian Financial Review reported that Bain Capital was considering a takeover bid. Founder acting CEO and substantial shareholder Jack Cowin said that he “is open to a deal, but wants to see a recovery in the business first.” Dominos entered a trading halt before resuming after confirming it had received no offer. Still, the stock closed up a solid +7.2%. With

CSL

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A Hard Pill to Swallow Shares in CSL (ASX: CSL) fell after the biotech slashed guidance and shelved the planned Seqirus demerger amid a sharper-than-expected fall in US flu vaccine demand. The shares have dropped to multi-year lows. The company now expects slower profit growth as vaccination rates decline, prompting a pause on major strategic moves until market conditions stabilise. Governance tensions and shareholder pushback have added pressure, but CSL’s core plasma and specialty therapy businesses remain intact. The group’s next

About these archived stock reports

These are archived Fat Prophets equity research stock reports and share analysis. They do not constitute current investment advice, financial product advice, or a recommendation to buy, sell or hold any financial product. They are provided for historical reference only, and reflect the market conditions, company information, forecasts and opinions available at its original publication date. The information may no longer be current or applicable. Past performance is not a reliable indicator of future performance.

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