Australian shares experienced a downturn near midday AEST, while Telix Pharmaceuticals surged 5 per cent following positive progress with the U.S. Food and Drug Administration (FDA). Telix is a biopharmaceutical company focused on developing diagnostic and therapeutic products using molecularly targeted radiation. The company aims to improve outcomes for patients with cancer and other diseases.
In other news, the Murdoch family has resolved its succession dispute in a substantial $5 billion deal. ANZ chief Nuno Matos announced plans to cut 3500 jobs, describing the move as a “last resort” as part of a simplification strategy. Meanwhile, BHP shares dipped after finalising a $110 million settlement related to the Samarco class action. Life360 continued its upward trajectory, demonstrating strong market performance.
The Future Fund’s assets have surpassed $250 billion, buoyed by a robust 12.2 per cent return. Strong global stock performance in the quarter contributed significantly to the sovereign wealth fund’s gains. Former PwC CEO Tom Seymour remains defiant despite being deregistered by the Tax Practitioners Board over a tax leaks scandal, dismissing the decision as “incorrect” but stating he won’t challenge the outcome.
Several other developments include Luke Crea’s journey to financial freedom, Congress releasing a note from Jeffrey Epstein purportedly signed by Donald Trump, and the collapse of Macron’s government after losing a confidence vote in France. These events, among others, continue to shape the financial and political landscape both locally and internationally.
