The Australian Securities Exchange (ASX) registered a flat close in its final session of the 2026 financial year, as substantial losses among gold miners largely counteracted gains observed across the banking sector. Despite these varied market movements, ANZ consumer confidence recorded an encouraging increase. In corporate developments, diversified financial services firm Euroz has announced the strategic sale of its capital markets arm to BMO. Euroz provides a comprehensive suite of financial advisory, stockbroking, and investment management services, marking a key shift in its business strategy.
Separately, the Australian Competition and Consumer Commission (ACCC) has initiated legal action against e-commerce and streaming giant Amazon. The ACCC alleges that Amazon engaged in unfair advertising practices regarding recent changes to its Prime Video service. The regulator contends that the company introduced advertising for customers who had explicitly paid for subscriptions with the understanding that they would be ad-free. Amazon, a global leader in online retail and digital content, faces scrutiny over its adherence to consumer expectations.
Meanwhile, the Australian Prudential Regulation Authority (APRA) has issued a stern warning concerning new economic risks stemming from increasing consolidation within the superannuation sector. A landmark stress test revealed that the nation’s colossal $4.5 trillion super fund industry could inadvertently amplify Australia’s next significant financial shock. In other corporate news, digital property settlement platform Pexa appointed co-CEOs for its UK operations, signalling continued international expansion. Additionally, Collins Foods experienced a downturn, primarily attributed to weaker sales performance from its German market. Separately, Joel Thickins, a prominent executive at TPG Capital, was convicted and banned from driving for nine months following a car crash in Sydney where he refused a breath test.
