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Live ASX Coverage: Key Updates for June 15
Welcome to our live coverage of the ASX for Monday, June 15, with a strong flow of updates expected throughout the day. This session will conclude around 2:00 pm AEST.
Macquarie Adjusts Gold and Lithium Ratings
[9:31 am] Macquarie has revised its ratings in the gold and lithium sectors, upgrading several companies while adjusting most gold price targets downward.
- Evolution Mining: Upgraded to Outperform from Neutral; new target set at $13 (previously $14).
- Greatland Resources (GGP.LN): Upgraded to Outperform from Neutral; target now 730p (down from 780p).
- Elevra Lithium (ELV): Up to Outperform from Neutral; target increased to $14.50 (from $13.50).
- Liontown (LTR): Also upgraded to Outperform from Neutral; target raised to $2.30 (up from $2.20).
Vicinity Centres Announces Chairman Succession
[9:23 am] Vicinity Centres has declared that Trevor Gerber will retire as Chairman at the AGM scheduled for 28 October 2026. Patrick Allaway will step in as Non-executive Director and Chairman-elect effective June 15, 2026.
- Gerber has been with the company for 11 years and served as Chairman since 2019.
- Allaway’s appointment follows his upcoming tenure, subject to shareholder election.
- His leadership comes during a pivotal period, including the company’s navigation through COVID-19.
Company Profile: Vicinity Centres (VCX)
Develop Global Appoints Interim CFO
[9:22 am] Develop Global has appointed Felicity Hughes as Interim Chief Financial Officer, effective from July 1, 2026, following Ben MacKinnon’s departure.
- Hughes brings 25 years of finance experience in the resources sector, recently serving as Director & Regional CFO at Newmont.
Company Profile: Develop Global (DVP)
ASX Admits Misconduct Regarding CHESS Project
[9:11 am] ASX has acknowledged misleading conduct associated with its announcement about the CHESS replacement project on February 10, 2022. ASIC is pursuing a $20.5 million penalty.
- The proposed penalty of $20.5m would include $3m for ASIC’s costs, pending Federal Court approval.
- ASX admits that by December 21, 2021, the project faced substantial risks yet was inaccurately reported.
Company Profile: ASX Limited (ASX)
Aussie Broadband Completes AGL Telco Acquisition
[8:59 am] Aussie Broadband has finalised its acquisition of AGL Telco and other transactions while reaffirming its FY26 EBITDA guidance.
- FY26 underlying EBITDA is guided to the middle of the $162-167 million range.
- Added approximately 28,000 net connections and surpassed 1 million broadband connections.
Company Profile: Aussie Broadband (ABB)
GPT Acquires Sunshine Plaza and Macarthur Square
[8:56 am] GPT’s Wholesale Shopping Centre Fund is set to acquire a 50% stake in Sunshine Plaza and Macarthur Square for a total of $1.19 billion.
- Sunshine Plaza acquired for $622 million, while Macarthur Square is at $568 million.
- The purchase is funded through recent equity proceeds and existing debt capacity.
Company Profile: GPT Group (GPT)
Transurban Opens M7-M12 Interchange
[8:55 am] Transurban provided an operational update announcing the opening of the M7-M12 Interchange and a full exit from the A25 concession in Montreal.
- Sydney traffic saw a slight increase of 0.1% year-on-year.
- The new interchange is expected to boost daily traffic capacity significantly.
Company Profile: Transurban Group (TCL)
oOh!media Receives Multiple PE Bids
[8:54 am] oOh!media has received indicative bids from three private equity firms at $1.60 per share, which represents a 16% premium over its last closing price.
- The board will allow further due diligence for the bidders, with this process anticipated to last up to six weeks.
Company Profile: oOh! media (OML)
IFM Raises Atlas Arteria Bid
[8:52 am] IFM has increased its takeover bid for Atlas Arteria to $5.10 per share, marking a 7% increase from the previous offer.
- The revised offer is labelled "best and final" and opens until June 25 unless extended.
Company Profile: Atlas Arteria (ALX)
Gold Miners See Capital Exits
[8:50 am] Recent reports indicate hedge funds are scaling back their investments in gold miners, signalling a shift from their traditionally safe-haven role amidst changing market dynamics.
- The NYSE gold miners index has dropped by 31% since late February.
SpaceX Achieves Record IPO
[8:48 am] SpaceX’s shares surged 19% on its trading debut, hitting a market cap of $2.1 trillion after raising $75 billion in the largest IPO ever.
US Consumer Sentiment Improves
[8:47 am] The preliminary consumer sentiment index for June beat expectations, rebounding from record lows in May due to falling gasoline prices.
US-Iran Agreement Affects Oil Markets
[8:42 am] A new agreement between the US and Iran to reopen the Strait of Hormuz has led to a notable decline in oil prices.
ASX 200 futures are currently up 39 points (+0.44%), indicating a positive start to the trading day.
Keep an eye on this space for the latest updates!
