Mineral Resources (MIN) – Shares surged after a 9% increase in FY24 production to 269 Mt. Key activities included a $1.3B sale and a 40% rise in spodumene concentrate production.

Flight Centre (FLT) – Shares fell after revising PBT guidance to $316M-$324M, excluding $4M in losses from Discova Central Americas’ closure. FY24 TTV expected to match FY19 at $23.7B.

Macquarie Group (MQG) – FY25 Q1 results “broadly in line” with the prior year. Asset management and BFS profits stable, offset by lower net profit in CGM and Macquarie Capital.

Nine Entertainment (NEC) – Shares dipped as staff at major publications voted to strike for five days, potentially affecting Olympic coverage.

Trade of the Week:

Northern Star Resources (NSR) – Undervalued compared to peers based on a relative value model. Reallocating 5% of our gold sector investment to NSR for better value and growth potential.