Australian shares are poised to drop sharply at the open. Shares were higher in New York, although Europe slipped ahead of this weekend’s French elections.
“Broader market performance has proven impressive in the last week, and should be a driving reason why stock indices continue to push higher in the month of July,” according to Fundstrat Global’s Mark Newton. He sees the S&P 500 rallying towards 5700 over the next few weeks as healthcare, financials, consumer discretionary and industrials move higher.
Mitsubishi Motors joins multiple Japanese conglomerates investing heavily in ASX businesses in 2024 as the yen plunges in value. “An all-scrip offer by Smart Group for Fleet Partners, at a 10-15 per cent premium, with synergies of $30 million is the most logical of potential deals,” said MST Marquee analyst Scott Hudson.
“We’d be open to any form of market consolidation provided that it’s accretive for our investors,” said Mr Irvine.