PRE-MARKET AUSTRALIAN STOCKS NEWS: RBA is to ban credit and debit card surcharges
Centuria Office REIT (COF AT) - Co. refinanced existing debt facilities totalling AUD 1bln, reducing debt margins by some 30 basis points, extending weighted average debt expiry to 4.3 years, with no debt expiries until FY 2029, while maintaining existing covenants and a pool of five lenders. (Newswires)
Rio Tinto (RIO AT) - Co.’s revenues will take a AUD 1.1bln hit after disruptions to its iron ore exports from Australia caused by cyclones in the past two months. (AFR)
Telstra Group (TLS AT) - Co. will be forced to remove a 1mln square kilometre area, more than the size of NSW, from maps promoting its mobile phone coverage after the Albanese government set a limit on the signal strength companies can claim works for calls and texts. (AFR)
Other News
RBA said it is to lower caps on interchange fees paid by Australian businesses and will cut interchange fee caps, while foreign card caps will be effective April 1, 2027. RBA will ban card surcharges on EFTPOS, Mastercard and Visa, and that the sticker price will be the final price paid, while changes to domestic card transactions are to take effect from October 1st. (Newswires)
Broker Ratings/Price Target
- Brambles (BXB AT) Price Target Cut 5% to AUD 23.35/shr by Macquarie.
- GWA Group (GWA AT) Price Target Cut 19% to AUD 2.15/shr by Macquarie.