-- Generation Development Group (ASX:GDG) completed the migration of the Xplore Wealth managed discretionary account investment portfolios to Evidentia Group's Implemented Portfolios on the HUB24 platform, according to a Thursday filing with the Australian bourse.
The migration of AU$1.8 billion in funds under management (FUM) increases Implemented Portfolios' total FUM to over AU$4 billion, the filing said.
Tabcorp Holdings (ASX:TAH) said Austrac launched an enforcement investigation after raising "serious" concerns about the company's ability to manage its money laundering and terrorism financing risks, according to a Thursday Australian bourse filing.The company said the investigation will initially focus on evaluating its compliance with its obligations under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act, including having a compliant AML/CTF program, complying with that program, and appropriately monitoring customers.Austrac advised that its investigation is at an early stage, and its approach will be determined once sufficient evidence has been collected and assessed, with all potential outcomes remaining open, including the possibility that no further enforcement action will be taken, the company added."Tabcorp takes its anti-money laundering and counter-terrorism financing obligations very seriously. The Board and Executive are fully committed to collaborating with Austrac in the continuing uplift in Tabcorp's ML/TF risk maturity," said Tabcorp Chairman Brett Chenoweth.The company's shares tumbled 27% in recent Thursday trade.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target by $2 to $24, based on a FY 27 (Sep.) P/E of 8.3x, a justified discount to ADNT's historical multiples. We lower our adjusted EPS estimates to $2.15 from $2.25 for FY 26 and to $2.90 from $3.10 for FY 27. After ADNT's earnings beat and slightly increased FY 26 guidance, we lower our estimates and price target and maintain a Hold opinion on the shares. ADNT posted Q2 FY 26 adjusted EPS of $0.52 vs. $0.69 (-25%), well ahead of the $0.44 consensus. The beat was attributed to stronger-than-expected sales, as revenue rose 7% to $3.87B ($230M ahead of consensus) and adjusted EBITDA margin contracted 70 bps to 5.8% (in line). We see more attractive risk/reward potential in auto suppliers with greater exposure to higher-growth segments of the market than seating (e.g., autonomous driving software or displays) and see margin pressures persisting for the next few quarters, highlighting that its highest-margin region (Asia) is experiencing the greatest headwinds.
Australian shares are poised to rise on Thursday as easing geopolitical tensions and prospects of a US-Iran peace deal drove oil prices lower, boosted gold, and softened the US dollar, creating a more supportive environment for equities.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.5%, 2%, and 1.2%, respectively.In the macroeconomy, the international trade in goods report is due at 11:30 am Sydney time.In corporate news, Amcor (ASX:AMC) reported Thursday fiscal third-quarter adjusted earnings of $0.96 per share on net sales of $5.91 billion, compared with adjusted earnings of $0.90 on net sales of $3.33 billion a year earlier.Orica (ASX:ORI) reported Thursday fiscal first-half adjusted earnings of AU$0.60 per share on revenue of AU$3.88 billion, compared with adjusted earnings of AU$0.533 on revenue of AU$3.94 billion a year earlier.Australia's benchmark index rose 1.3% or 113.1 points to close at 8,793.60 on Wednesday.