Latest AXX News

A handful of extreme moves set the tone, from DXN’s explosive AI data centre rerating to steep sell-offs in small-cap explorers. Deals, funding and fresh drilling results drove the week, but several gap-ups lost steam as traders banked profits.

Exploration wins and funding deals kept the materials sector busy, but price action was uneven. Big winners came from fresh drill results and new targets, while several stocks gave back early gains after trading resumed.

The ACCC has approved Ampol’s acquisition of EG Australia, mandating the sale of 41 overlapping fuel retail sites to Metro Petroleum to maintain competition across 39 local markets.

The ACCC has moved Peter Warren Automotive’s proposed acquisition of 30 Wakeling Automotive dealerships to a Phase 2 review, citing risks of reduced competition in Sydney’s Macarthur region.

Deal activity and fintech growth set the pace, with Zip surging and Insignia moving closer to leaving the boards. At the same time, regulators kept pressure on insurance deals and several fund managers showed how choppy markets are hitting assets and flows.

The ACCC has escalated its scrutiny of Insurance Australia Group’s proposed takeover of RAC Insurance, citing potential substantial lessening of competition in Western Australia’s motor and home insurance markets.

The ACCC has referred Ampol’s acquisition of EG Australia to a detailed Phase 2 review, citing concerns that the deal could significantly reduce competition in key Australian fuel markets.

The ACCC has decided not to oppose Southern Cross Media’s proposed acquisition of Seven West Media, citing limited competition concerns amid evolving digital media landscapes.