With earnings season in sight, RBC Capital’s Karen Jorritsma said management teams may be reluctant to give 2023 guidance.
Shareholders should not expect the competition regulator to wave through ANZ’s proposed $4.9 billion acquisition of Suncorp Bank – potentially the biggest banking deal in Australia in more than a decade, says Royal Bank of Canada’s equities boss Karen Jorritsma.Karen Jorritsma says loss-making tech companies could come under more pressure as rates rise.“It’s going to be a real test,” Ms Jorritsma said of the Australian Competition and Consumer Commission’s view.
“I think a lot of the sell-side brokers probably have relatively stale numbers for the past couple of months,” she said. “So this could be a real catalyst for earnings downgrades. So I think net-net, you’ll probably see [FY 2022] numbers come in line with a view to FY 2023 numbers coming in softer. “There’s still a lot of money around looking for acquisitions. It’s the same in infrastructure, the second derivative infrastructure. Sydney Airport’s gone, I do think there’s a hunt for infrastructure-type assets, so I’d put Brambles and Qube in that second derivative infrastructure play.”has been active in the mergers and acquisitions space selling its Moorebank Logistics Park for $1.
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