Daily Roundup

Goodman Group and Digital Realty Team Up on NEXTDC Stake

Goodman Group has joined forces with Digital Realty to acquire a 9.9% interest in NEXTDC through a 50-50 joint venture. The pair picked up the stake at an average price of $9.22 per share. While both companies are seasoned data center investors open to collaborating with NEXTDC's board and management, they've made it clear there are no current plans for further engagement or a takeover bid. That said, they're keeping their options open should circumstances shift down the track.

IGO Wraps Up Nova Operation on a High Note

IGO Limited has successfully concluded mining and processing at its Nova Nickel Operation, and it finished stronger than expected. The company produced 21,340 tonnes of nickel—7% above the top end of guidance—while keeping cash costs at just A$3.90 per pound of payable nickel, a full 8% below the lower end of updated guidance. Copper and cobalt production also came in ahead of revised targets. IGO expects to wrap up the divestment of Nova to Global Lithium Resources Limited in the coming weeks, marking the end of nearly a decade of operation.

Service Stream Pursues Major Acquisition

Service Stream is making a bold move, announcing plans to acquire Programmed for $975 million in a deal that could reshape the facility management landscape. The company is backing the acquisition with a $475 million equity raise, comprising a $219 million placement and a $256 million entitlement offer. The deal is expected to deliver over 20% earnings per share accretion on a pro forma FY27 basis, buoyed by $30 million in run-rate cost synergies. Completion is targeted for around 1 March 2027, pending regulatory approvals and customary conditions. Service Stream has requested a trading halt while it announces the outcome of the institutional component of its capital raising.

ANZ Posts Strong Results and Bumper Dividend

ANZ Group Holdings delivered impressive full-year results for the year ended 30 September 2026, reporting a statutory profit of $7,270 million—up 23% from the prior year—and a cash profit of $7,591 million, a striking 31% increase. The bank's return on tangible equity came in at 12.03%, while its Level 2 CET1 ratio held steady at 16.6%, reflecting a solid balance sheet. The company proposed a final dividend of 83 cents per share, 80% franked, with a record date of 13 November 2026 and payment on 18 December 2026. Behind the scenes, ANZ delivered $902 million in gross cost savings, exceeding guidance, and made substantial progress on key initiatives including the Suncorp Bank integration—now 60% complete—and its single customer front-end rollout, which is on track to reach 80% completion by March 2027.

QMines Locks in Land for Mt Chalmers

QMines has exchanged binding contracts to acquire 25 freehold parcels covering approximately 518 acres adjoining its flagship Mt Chalmers Copper-Gold Project in Central Queensland. After two years of negotiations, the deal is expected to reduce land access risks and accelerate the company's Definitive Feasibility Study activities. The properties are strategically positioned to accommodate the proposed processing plant, tailings storage facility, and water storage dam, subject to final design and regulatory sign-offs. The acquisition also includes agreements that open the door to exploration at the prospective Botos and Woods Shaft deposits. QMines has already kicked off a 64-hole RC drilling program at Botos to verify historical results, while a 39-hole program at Woods Shaft is in the pipeline. Environmental studies are underway, with an Environmental Authority application targeted for submission during the first half of 2027.