ASX 200 Set to Rebound
The ASX 200 futures jumped 86 points (0.99%), aiming to recoup most of Friday’s selloff. The surge brings the market within 0.2% of all-time highs. The bounce mirrors a strong overnight rally in US indices. The S&P 500 rose 1.47% and the Nasdaq climbed 1.95%. Both benchmarks recovered most of their previous session losses.
ASX 200 Chart as of 12:43 PM AEST
Berkshire Hathaway Faces Heavy Writedown
Berkshire Hathaway shares fell as much as 3.4%. The stock hit its lowest level since February. The company reported a $3.8 billion writedown on its Kraft Heinz stake. The carrying value dropped to $8.4 billion from over $17 billion in 2017. Berkshire skipped share buybacks for the fourth straight quarter. Shares have dropped 15% since Buffett’s retirement announcement in early May.
HMC Capital Refocuses Energy Transition Fund
HMC Capital plans to raise $1 billion for its energy transition fund. The new target is half the original plan. The fund now prioritises wind farms and battery storage. It has dropped previous ambitions for hydrogen, biofuels and carbon capture. HMC acquired a $950 million portfolio from Brookfield (formerly Neoen), including 650MW of operating assets and up to 6GW of projects. The deal used $550 million in senior debt, $200 million mezzanine and $50 million equity. HMC estimates the portfolio is worth over $1.3 billion. HMC expects at least 15% gross equity returns on the portfolio.
Credit Corp Reports Solid Growth and Strong Guidance
Credit Corp delivered positive FY25 results. Revenue rose 5% to $545.6 million, slightly missing Macquarie estimates. NPAT jumped 86% to $94.1 million, beating expectations. EPS increased 86% to 138.2 cents. The full-year dividend went up 79% to 68 cents per share. The company projected strong investment and earnings growth for FY26. Credit Corp guided to ledger investment between $280 million and $330 million and gross lending of $350 million to $390 million. NPAT is forecast between $100 million and $110 million. The stock surged about 16% in early trade, trading at its highest since February.
Austal Finalises Defence Deal and Lifts Guidance
Austal secured its Strategic Shipbuilding Agreement with the Commonwealth. Austal Defence Australia will deliver two key defence programs: eighteen Landing Craft Medium (LCM) and eight Landing Craft Heavy (LCH). Final contracts for the LCM programme are expected in the first quarter of 2026. The construction of 18 vessels will generate A$1–1.3 billion in revenue over eight years. The final LCM delivery is due by 2032. The Commonwealth will also take a sovereign share in Austal Defence Australia. Austal upgraded FY25 EBIT guidance to not less than $100 million. The new guidance is at least 22% above Citi’s previous $82 million forecast.
Telix’s OPEX Guidance Hits Shares
Telix forecast first-half 2025 operating expenses at about 36% of revenue. The guidance reflects the company’s re-investment strategy in business growth and pipeline development. The announcement triggered a sharp sell-off. Telix shares fell 20.2% to $16.14, hitting a 13-month low.
TPG Unveils Capital Management, Revised Guidance
TPG issued FY25 statutory EBITDA guidance of $1.64–1.69 billion, down from previous guidance and consensus. The guidance followed the completion of the fibre network and enterprise business sale to Vocus Group on 31 July 2025. The deal provided approximately $4.7 billion in net cash proceeds. TPG plans to return up to $3 billion to shareholders, with an option for minority shareholders to reinvest up to $688 million. The company targets debt repayment of up to $2.4 billion. TPG will maintain an asx FY25 dividend of 18 cents per share. S&P Global assigned TPG a ‘BBB’ rating with a ‘Negative’ outlook. TPG shares traded down 2.5% to $5.38 after early gains.
Electro Optic Systems Wins Major Defence Order
Electro Optic Systems announced a $125 million order for a 100-kilowatt class laser defence system. A European NATO customer placed asx the order, the world’s first export order of its kind. EOS will deliver the system from Singapore between 2025 and 2028. The company’s $570 million market cap reflects strong demand. EOS surged 33% to $3.93 in early trade. Two months ago, the company rallied after a $53 million contract win.
Rare Earth and Graphite Stocks Benefit from Tightened Trade
Rare earth stocks, including Iluka, soared after a Wall Street Journal report. The article highlighted China’s firm grip on exports asx of key minerals. Delays and asx sharp price rises impact Western defence manufacturing. The Pentagon invested $400 million into MP Materials and $14 million in Canadian supply. US manufacturers have faced two-month delivery lags and a company quoted a sixty-fold price surge for samarium.
Endeavour Chairman Resigns, Guidance Cut
Endeavour Group’s Executive Chairman Ari Mervis announced his resignation. The company lowered its FY25 asx statutory NPAT guidance to $420–425 million, citing higher costs. Citi asx analysts noted no strategic changes but flagged governance risks. They lowered the target price to $4.54 and maintained a Neutral rating.
Catapult Group Confirms FY26 Growth
Catapult Group reaffirmed FY26 guidance at its AGM. The company expects strong annual contract value growth and decreasing churn. It anticipates improved cost margins and higher free cash flow as the business scales.
