{"id":125,"date":"2025-12-17T08:30:00","date_gmt":"2025-12-16T22:30:00","guid":{"rendered":"https:\/\/kate.st\/?p=125"},"modified":"2025-12-17T08:15:26","modified_gmt":"2025-12-16T22:15:26","slug":"before-the-bell-20251217","status":"publish","type":"post","link":"https:\/\/kate.st\/?p=125","title":{"rendered":"Before the Bell &#8211; 20251217"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\">Markets<\/h1>\n\n\n\n<h2 class=\"wp-block-heading\">AUS<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Life360 tumbled 5.6 per cent to close at a five-month low of $32.71.<\/li>\n\n\n\n<li>WiseTech, Xero and NextDC were all off between 2 per cent and 3 per cent.<\/li>\n\n\n\n<li>Santos and Woodside dropped about 2 per cent to close at $6.11 and $23.99, respectively.<\/li>\n\n\n\n<li>Vicinity Centres and Scentre Group finished down about 1 per cent at $2.51 and $4.13, respectively.<\/li>\n\n\n\n<li>JB Hi-Fi and Harvey Norman eased to $93.03 and $7.01, respectively.<\/li>\n\n\n\n<li>Westpac down 1.1 per cent to $38.48.<\/li>\n\n\n\n<li>ANZ 0.4 per cent to $36.11.<\/li>\n\n\n\n<li>National Australia Bank added 0.1 per cent at $42.24.<\/li>\n\n\n\n<li>Commonwealth Bank closed flat at $155.13.<\/li>\n\n\n\n<li>Qantas rallied 2.9 per cent to $10.09.<\/li>\n\n\n\n<li>DroneShield went up 22.2 per cent to $2.81 after the defence company secured a $49.6 million contract to supply a military customer.<\/li>\n\n\n\n<li>REA Group fell 1.7 per cent to $185.8 on news that Google will display real estate ads.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Crypto<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The UK financial regulator has published proposals to regulate for the first time many areas of the crypto market, including rules for listing digital assets, restrictions on insider trading and capital requirements for the fast-growing sector.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Commodities<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Brent fell as much as 1% to trade at $59.96 deepening a loss for the year.<\/li>\n\n\n\n<li>West Texas Intermediate crude was trading at $US56.52 a barrel, or 0.5 per cent.<\/li>\n<\/ul>\n\n\n\n<h1 class=\"wp-block-heading\">Economy<\/h1>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Markets are suggesting a one-in-four chance of an Australian rate rise in February, and expect 38 basis points of tightening by Christmas next year.<\/li>\n\n\n\n<li>Earlier falls in U.S. Treasury yields reverse, with yields trading steady in midday European trade ahead of key labor market data.<\/li>\n\n\n\n<li>Gilt yields rise after flash U.K. purchasing managers\u2019 surveys for December came in better than expected.<\/li>\n\n\n\n<li>The 10-year German Bund yield falls after Germany\u2019s weaker-than-expected flash estimate purchasing managers index.<\/li>\n<\/ul>\n\n\n\n<h1 class=\"wp-block-heading\">Business<\/h1>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ANZ asked law firm Allens to investigate one of the bank\u2019s directors, former senior bureaucrat Jane Halton, after receiving complaints that she had made a derogatory remark about a senior employee and a consultant while they were on a board education trip in the United States last year. ($<a href=\"https:\/\/www.afr.com\/companies\/financial-services\/anz-investigated-complaints-against-jane-halton-before-her-board-exit-20251212-p5nnbb\" target=\"_blank\" rel=\"noreferrer noopener\">AFR<\/a>)<\/li>\n\n\n\n<li>AustralianSuper chief investment officer Mark Delaney will depart the $400 billion pension giant after more than 20 years, a period in which he helped transform the fund, and its predecessor Superannuation Trust of Australia, into the country\u2019s biggest asset manager and a global investment powerhouse. ($<a href=\"https:\/\/www.afr.com\/companies\/financial-services\/australiansuper-cio-mark-delaney-to-retire-marking-end-of-an-era-20251216-p5no5g\" target=\"_blank\" rel=\"noreferrer noopener\">AFR<\/a>)<\/li>\n\n\n\n<li>Star Entertainment chief executive Steve McCann will step down from his position as the new owners of the struggling casino operator take control and attempt to turn around its finances. ($<a href=\"https:\/\/www.afr.com\/companies\/games-and-wagering\/steve-mccann-quits-star-entertainment-bruce-mathieson-jnr-takes-over-20251216-p5no13\" target=\"_blank\" rel=\"noreferrer noopener\">AFR<\/a>)<\/li>\n\n\n\n<li>Rio Tinto says it will spend hundreds of millions of dollars preparing the way for the development of the country\u2019s next major iron ore mine, a project it hopes will underpin the next generation of its Pilbara operations. ($<a href=\"https:\/\/www.afr.com\/companies\/mining\/rio-tinto-begins-work-on-pilbara-s-last-crown-jewel-20251216-p5nnze\" target=\"_blank\" rel=\"noreferrer noopener\">AFR<\/a>)<\/li>\n\n\n\n<li>Mining companies are holding close to $180 billion worth of infrastructure assets and will increasingly sell stakes in power stations, pipelines and desalination plants as a way of bolstering cash flows, say industry analysts. ($<a href=\"https:\/\/www.afr.com\/companies\/mining\/miners-sitting-on-180b-infrastructure-nest-egg-20251214-p5nnjo\" target=\"_blank\" rel=\"noreferrer noopener\">AFR<\/a>)<\/li>\n\n\n\n<li>Monzo chief executive TS Anil was asked to step down by the fintech\u2019s board amid concerns over the pace of its international expansion and his long-term commitment to the business after a potential stock market listing. ($<a href=\"https:\/\/www.ft.com\/content\/5aa2f310-d023-441d-97e4-a23ba6ad0874\" target=\"_blank\" rel=\"noreferrer noopener\">FT<\/a>)<\/li>\n\n\n\n<li>PayPal has applied to become a bank in the US, the latest fintech seeking to capitalise on the Trump administration\u2019s more permissive approach to financial industry oversight. ($<a href=\"https:\/\/www.ft.com\/content\/420e25da-d8a3-4da1-8852-c4786c4c04f4\" target=\"_blank\" rel=\"noreferrer noopener\">FT<\/a>)<\/li>\n<\/ul>\n\n\n\n<h1 class=\"wp-block-heading\">Deal Flow<\/h1>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The NSW government and its private capital partners at Ausgrid are gearing up to launch an auction of its smart metering business in a deal that could spell a blockbuster payday for the $25 billion-plus poles-and-wires giant. ($<a href=\"https:\/\/www.afr.com\/street-talk\/ausgrid-eyes-bumper-3b-payday-from-smart-meters-carve-out-20251216-p5no53\" target=\"_blank\" rel=\"noreferrer noopener\">AFR<\/a>)<\/li>\n\n\n\n<li>KTEK Systems, a supplier of airframes for combat drones to defence manufacturers in the US, European Union and Israel, is eyeing a 2026 ASX listing after finalising its $2.5 million convertible note seed round. ($<a href=\"https:\/\/www.afr.com\/street-talk\/regal-fund-backs-drone-parts-manufacturer-s-pre-ipo-raising-20251216-p5no0t\" target=\"_blank\" rel=\"noreferrer noopener\">AFR<\/a>)<\/li>\n\n\n\n<li>Westgold Resources has acquired a 19.9 per cent stake in Alicanto Minerals, a listed junior that on Monday struck a deal to buy WA\u2019s Mt Henry gold mine from the bigger player\u2019s sale of non-core assets. ($<a href=\"https:\/\/www.afr.com\/street-talk\/westgold-climbs-up-to-19-9pc-of-listed-junior-in-non-core-assets-sale-20251216-p5no12\" target=\"_blank\" rel=\"noreferrer noopener\">AFR<\/a>)<\/li>\n\n\n\n<li>Insight\u2019s funds, led by its London-based head of secured finance, Shaheer Guirguis, have committed to providing up to $100 million in wholesale funding to Midkey. ($<a href=\"https:\/\/www.afr.com\/street-talk\/fixed-income-giant-insight-tips-into-sydney-non-bank-lender-midkey-20251216-p5nnzr\" target=\"_blank\" rel=\"noreferrer noopener\">AFR<\/a>)<\/li>\n\n\n\n<li>Shell chief executive Wael Sawan and his top lieutenant quashed an internal proposal to buy rival BP this year, after which the company\u2019s head of mergers and acquisitions left the business. ($<a href=\"https:\/\/www.ft.com\/content\/2f9a4047-c860-4632-bc55-00d73df4e5b9\" target=\"_blank\" rel=\"noreferrer noopener\">FT<\/a>)<\/li>\n\n\n\n<li>The Canadian government has greenlit the $60bn Anglo Teck mega-merger, clearing a key hurdle for the companies to form one of the world\u2019s largest copper producers as demand for the industrial metal surges. ($<a href=\"https:\/\/www.ft.com\/content\/87cbb059-74a7-439d-b5ed-2ab37063b7e0\" target=\"_blank\" rel=\"noreferrer noopener\">FT<\/a>)<\/li>\n\n\n\n<li>Kimmeridge has submitted a $6bn offer to buy Ascent Resources, the gas driller at the centre of a legal dispute in which a Middle Eastern sovereign wealth fund accused a US private equity group of self-dealing. ($<a href=\"https:\/\/www.ft.com\/content\/752ce310-c6c8-4225-b22e-7f8d5601a3ad\" target=\"_blank\" rel=\"noreferrer noopener\">FT<\/a>)<br><\/li>\n<\/ul>\n\n\n\n<h1 class=\"wp-block-heading\">Independent Research<\/h1>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Household sentiment has fallen 9 per cent in December, as the recent uptick in inflation puts it back on the radar of cost of living conscious consumers.<\/li>\n<\/ul>\n\n\n\n<h1 class=\"wp-block-heading\">Opinion<\/h1>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Payden &amp; Rygel portfolio manager Eric Souders says global bond markets are entering a markedly bifurcated phase, with the US Federal Reserve easing while other major central banks lean toward further tightening.<\/li>\n<\/ul>\n\n\n\n<h1 class=\"wp-block-heading\">Meme Cleanser<\/h1>\n\n\n\n<figure class=\"wp-block-image alignwide size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"879\" src=\"https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/ce8a8dc1-202b-4f00-abe7-c032d01d7aee-1024x879.webp\" alt=\"\" class=\"wp-image-112\" srcset=\"https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/ce8a8dc1-202b-4f00-abe7-c032d01d7aee-1024x879.webp 1024w, https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/ce8a8dc1-202b-4f00-abe7-c032d01d7aee-300x258.webp 300w, https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/ce8a8dc1-202b-4f00-abe7-c032d01d7aee-768x660.webp 768w, https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/ce8a8dc1-202b-4f00-abe7-c032d01d7aee.webp 1162w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image alignwide size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"840\" src=\"https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/e7ec6ca7-e888-4e26-be53-6ffcffdcf899-1024x840.webp\" alt=\"\" class=\"wp-image-113\" srcset=\"https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/e7ec6ca7-e888-4e26-be53-6ffcffdcf899-1024x840.webp 1024w, https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/e7ec6ca7-e888-4e26-be53-6ffcffdcf899-300x246.webp 300w, https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/e7ec6ca7-e888-4e26-be53-6ffcffdcf899-768x630.webp 768w, https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/e7ec6ca7-e888-4e26-be53-6ffcffdcf899.webp 1160w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image alignwide size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"404\" src=\"https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/19e6a474-f13c-4abe-81db-420604065f6a-1024x404.webp\" alt=\"\" class=\"wp-image-117\" srcset=\"https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/19e6a474-f13c-4abe-81db-420604065f6a-1024x404.webp 1024w, https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/19e6a474-f13c-4abe-81db-420604065f6a-300x118.webp 300w, https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/19e6a474-f13c-4abe-81db-420604065f6a-768x303.webp 768w, https:\/\/kate.st\/wp-content\/uploads\/2025\/12\/19e6a474-f13c-4abe-81db-420604065f6a.webp 1206w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Markets AUS Crypto Commodities Economy Business Deal Flow Independent Research Opinion Meme Cleanser<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-125","post","type-post","status-publish","format-standard","hentry","category-before-the-bell"],"acf":[],"_links":{"self":[{"href":"https:\/\/kate.st\/index.php?rest_route=\/wp\/v2\/posts\/125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kate.st\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kate.st\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kate.st\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/kate.st\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125"}],"version-history":[{"count":2,"href":"https:\/\/kate.st\/index.php?rest_route=\/wp\/v2\/posts\/125\/revisions"}],"predecessor-version":[{"id":127,"href":"https:\/\/kate.st\/index.php?rest_route=\/wp\/v2\/posts\/125\/revisions\/127"}],"wp:attachment":[{"href":"https:\/\/kate.st\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kate.st\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kate.st\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}