The Australian Securities Exchange (ASX) experienced broad losses near noon AEST today, while specific corporate developments spurred notable movements. RPMGlobal is in takeover talks with Caterpillar, sending its shares soaring. Fortescue traded ex-dividend, influencing its stock performance. Trading in West African Resources was suspended, and Pro Medicus received US approval for an undisclosed product or service. Pro Medicus is a leading provider of medical imaging software and services, delivering comprehensive solutions to hospitals, imaging centers, and healthcare professionals worldwide, improving patient outcomes through advanced technology.
Elsewhere in the market, Macquarie is restructuring its commodities trading unit to boost income, amidst scrutiny from ASIC. Domain has unveiled a strategy to overtake REA, focusing on 3D maps and curbing price increases, according to CoStar’s CEO, Andy Florance. Meanwhile, L1 Capital is shifting its investment focus offshore, identifying seven international stocks for potential acquisition, signaling a change in its growth strategy.
In other news, Mirvac and Charter Hall executives addressed the Financial Review Property Summit, highlighting affordability as a major challenge in the housing market. Charter Hall is a leading Australian property group that manages, owns, and develops a diverse portfolio of properties across various sectors, including office, retail, industrial, and social infrastructure, for its tenant and investor customers. Separately, NSW Police are investigating after a car breached the Russian consulate in Sydney, leading to an arrest.
