PRE-MARKET AUSTRALIAN STOCKS NEWS: Xero (XRO AT) announced a collaboration with Anthropic to deliver AI-powered financial intelligence tools to small businesses
BlueScope Steel (BSL AT) - Co. sees early indications of strong interest in land adjacent to Western Port and is progressing development plans, including a nonbinding agreement with Prixcar for a 10-hectare facility, with potential value of around AUD 40mln from the project. (Dow Jones Newsplus)
Coronado Global Resources (CRN AT) - Co. said CEO Douglas Thompson will resign effective end-March. (Dow Jones Newsplus)
Rio Tinto (RIO AT) – Co. spent a record AUD 19.7bln with more than 6,000 Australian suppliers in 2025. It was also reported that Argentina’s Economy Minister approved Rio Tinto’s lithium project expansion, while SAGA Metals acquires Garneau lithium project from Rio Tinto. (Newswires)
Suncorp Group (SUN AT) - Co. said CEO Steve Johnston is taking temporary leave following a medical procedure, with CFO Jeremy Robson appointed acting CEO. (Dow Jones Newsplus)
Xero (XRO AT) - Co. announced a collaboration with Anthropic to deliver AI-powered financial intelligence tools to small businesses. (Press Release)
Agriculture - China is to impose an extra 55% tariff on Australian beef. (Newswires)
Broker Ratings/Price Target
- Kogan.com (KGN AT) price target raised 15% to AUD 3.80/shr by Bell Potter
- Telstra (TLS AT) price target raised 3.7% to AUD 5.64/shr by Macquarie
- TPG Telecom (TPG AT) price target raised 4.8% to AUD 4.40/shr by Macquarie
Xero's collaboration with Anthropic to deliver AI-powered financial intelligence tools signals a strategic move to enhance its offerings for small businesses, which could position the company favorably in the growing fintech sector. This partnership may leverage cutting-edge AI technology to capture a larger market share, thus impacting investor sentiment positively. Keep an eye on how this might influence Xero’s competitiveness and overall stock performance, particularly against peers in the tech and financial spaces.