There’s a bit of a “buy everything” feel in the market this week, and the talking point’s about how long it will last.
Myer’s sales numbers – its strongest in nearly 20 years – added to the growing faith in the health of Australia’s consumers, and helped keep a rocket under the big rebound under way in small cap retailers’ share prices.
The rally has caught some hedge funds by surprise, and has them scrambling to cover selected short positions. Breville Group was a prime example on Tuesday.
MinRes’ run has been fuelled by investor demand for lithium, which is surely helpful for a company thinking about spinning off its lithium assets into a separately listed vehicle.
Happy reading, Anthony Macdonald, Sarah Thompson and Kanika Sood Street Talk editors
Hedge funds are on edge about a collective $215 million short position in appliances maker Breville Group, worried they’re about to be scorched by a raging market.
Mineral Resources shares soaring to an all-time high on the back of huge demand for lithium stocks has re-ignited prospects of the $18.3 billion miner spinning out its lithium assets in the US.
Sun Cable administrator FTI Consulting will head to court on Wednesday morning to help tie-up its short-term funding deal, before launching an auction.
Superannuation investor and prolific dealmaker Aware Super has lured a debt capital markets hat from ANZ Bank’s leveraged finance unit, as its $6.5 billion credit program digs deeper into financing M&A deals.
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