ASX 200 futures point to a 20-point decline at the open. Reporting season begins with Charter Hall, Credit Corp, and Block. KKR joins a consortium to acquire Westpac's RAMS mortgage portfolio.
Australia's reporting season is underway. ASX 200 futures point to a 20-point drop early Monday, a cautious start as companies begin opening their books.
Vista Group (ASX:VGL) got the season off to a soft note. The tech company told shareholders net profit fell 25% in the six months to June 30. The result will test sentiment as the week brings earnings from Charter Hall and Credit Corp early, followed by ResMed and REA Group.
Westpac wrapped up the sale of its RAMS mortgage portfolio. Pepper Money, PIMCO funds, and accounts managed by global private equity firm KKR are in the consortium buying the book. KKR, which carries an Alpha Score of 50 out of 100 from AlphaScala, is participating through managed accounts.
Other companies on the week's docket include Light & Wonder, AMP, Block, James Hardie, and Avita. Block (XYZ) has an Alpha Score of 42.
The Australian dollar bought 70.4 U.S. cents. Brent crude fell 5% to $83.36 a barrel. Iron ore in Singapore rose 0.2% to $95.80 a tonne. U.S. natural gas futures traded at $2.75 per gigajoule.
The Australian Competition and Consumer Commission said it is closely monitoring fuel suppliers after the fuel excise ended Sunday.
The reporting season will test whether the early caution fades as more companies share their numbers later this week.
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