☕ Short report

Good morning. Not a great day for the market yesterday after the RBA added another 25bps to move the cash rate to 3.85%. The increase means that repayments on a typical 30-year $600k mortgage require an uncomfortable $1424 a month in extra dosh to service vs this time last year. 

Good morning. Not a great day for the market yesterday after the RBA added another 25bps to move the cash rate to 3.85%.

The increase means that repayments on a typical 30-year $600k mortgage require an uncomfortable $1424 a month in extra dosh to service vs this time last year.

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MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: Despite Liontown knocking back media speculation that they'd received another bid for the company, the AFR has doubled down on the rumours today.

The AFR reckons that while they might have been "a little early" with their call, Wesfarmers or SQM are rumoured to be tossing around the idea of a bide — either independently or jointly.

THE QUICK SYNC

  • Short seller report: Hindenburg targets Carl Icahn in new report. (Report | CNBC)

  • Vanessa Hudson to replace Alan Joyce as Qantas CEO. (SMH)

  • Streaming services: Aussies added 189,000 services despite cost-of-living crunch. (AFR)

  • Vaping: Australia to ban recreational vaping. (AFR)

  • Macquarie boss says immigration will shield Australia’s economy. (SMH)

  • Sportsbet and Entain profits fall as Vic wagering licence process begins. (Australian)

  • Chegg shares drop more than 40% after company says ChatGPT is killing its business. (CNBC)

TRADING FLOOR

M&A:

  • Liontown Resources' suitor is yet to formalise the interest and submit a firm proposal. (AFR)

  • CPE Capital sells Dutton Group to Tokyo-based Sojitz Corporation. (AFR)

  • MA Financial has bought Blue Elephant Capital Management for about $7.5m. (AFR)

  • Helloworld has agreed to snap up a 40% stake in travel agency Phil Hoffmann Travel from its founder. (BNA)

  • Stockland has acquisitions on the agenda in the land lease community space. (The Australian)

  • Downer’s Repurpose IT business sale is closer to reaching a conclusion. (The Australian)

  • PEXA is being closely watched by suitors. (The Australian)

  • Bank of Queensland has not ruled out a merger with another regional bank in the future. (The Australian)

Capital Markets:

  • Synertec and Dimerix raise $8m and $20.5m in fresh equity. (AFR)

  • Brookfield has covered the book for its big refinance of Healthscope. (AFR)

  • The Real Pet Food Company is close to finalising a capital raise of some $200m. (AFR)

VC:

  • Zoomo, an e-bike startup, has executed a second round of lay-offs. (SMH)

  • Canva has revealed it is considering delaying its annual employee share sale until the market improves. (AFR)

Others:

  • Ashurst is adding two new partners to its corporate transactions ranks.  (AFR)

  • Andrew Forrest poaches Credit Sussie's head of energy and transition, Kris Liddell. (AFR)

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THE WATERCOOLER

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