ASX Live Coverage Summary – 8th May 2026
Welcome to our ASX live coverage for Friday, 8th May. Expect frequent updates today, winding down by 2:00 pm AEST. We value your feedback; please share your thoughts on how we can improve.
Key Highlights:
1. SKS Technologies Secures $22M Contract
- SKS Technologies has announced a significant $22 million contract to implement integrated electrical technology for a major retailer in Melbourne’s Docklands.
- Their order book now totals $355 million, with a tender pipeline that has surged by nearly 120% to $1.25 billion since February 2026, primarily bolstered by data centre projects.
2. QBE Insurance Reiterates FY26 Guidance
- Following a solid first quarter, QBE has reaffirmed its FY26 guidance, noting an 11% year-on-year growth in gross written premiums (GWP) and a lower-than-expected cost from catastrophe claims.
- The investment income for the first four months was approximately $500 million, indicating a positive outlook.
3. Macquarie Group Reports Strong FY26 Performance
- Macquarie has reported a 30% increase in net profit year-on-year, reaching $4.85 billion, driven by substantial growth across all operating groups.
- The strong performance includes significant contributions from the Commodities and Global Markets sector.
4. Perseus Mining Appoints New COO
- Wade Bickley is set to join Perseus Mining as Chief Operating Officer from 1st June 2026, bringing over 25 years of experience in the mining sector.
5. REA Group’s Q3 Report Reveals Missed Expectations
- The REA Group’s Q3 results fell short of market expectations for revenue and EBITDA, highlighted by a 6% revenue growth to $398 million amid cost-guidance reductions.
6. News Corp Exceeds Q3 Forecasts
- News Corp reported record earnings driven by its Digital Real Estate Services and Dow Jones, with revenues up 9% to $2.19 billion.
7. Block Raises Full-Year Guidance
- Block has reported better-than-expected Q1 results, attributing success to AI-driven productivity. The company is optimistic, raising its FY26 outlook.
8. US Economic Indicators
- The April NY Fed Survey indicated a slight rise in consumer inflation expectations. In consumer spending, a cautious recovery was observed over China’s recent Labor Day period, although economists temper optimism due to underlying economic conditions.
9. McDonald’s Reports Revenue Beat
- McDonald’s exceeded Q1 expectations on revenue but warned about increasing pressures on low-income consumers due to rising gas prices, hinting at a potential downturn.
10. Whirlpool Cuts Guidance Amid Demand Decline
- Whirlpool’s CEO expressed significant concern over declining consumer demand levels, announcing a reduction in guidance and a suspension of its dividend due to economic pressures tied to the Iran conflict.
11. Shake Shack Faces Record Decline
- Shares of Shake Shack fell by 28% after Q1 results missed expectations, largely due to rising beef costs and unfavourable weather conditions affecting sales.
12. Oil Prices Volatile amid Iran Tensions
- Citigroup forecasts ongoing oil price volatility linked to uncertainty over a US-Iran deal, with recent strikes adding to market instability.
Market Update:
- ASX 200 futures are down 1.73% as of this morning, reflecting broader concerns as US stocks declined following geopolitical tensions in the region.
Stay tuned for further updates throughout the day!
