Livewire has acquired Market Index, the country’s leader in free stock market data.
Find out why.

The big equity event in the markets yesterday was Wesfarmers sale of its insurance businesses to AJG in the US

Livewire Equities

Livewire

The big equity event in the markets yesterday was Wesfarmers sale of its insurance businesses to AJG in the US. The market responded positively to the news with Wesfarmers stock trading up 1.2% at the close of trade. The market reaction is likely to be a favourable response to the capital inflow that will result for Wesfarmers. Market attention will now focus on how WES will deploy the funds. Rob Taubman, Equity Sales at UBS, says that there are two possible outcomes being an acquisition or a capital return or buyback both of which would be accretive at current levels. However, Taubman notes UBS currently have a valuation of $42.80 on Wesfarmers which is only marginally above yesterdays closing price of $42.08. Their preferred pick is Woolworths, we note the recent article from Altair on WOW vs WES - there is a market out there.


Livewire Equities
Livewire Equities
Livewire

The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.