No one knows just how Europe’s debt crisis and China’s slumping property market will ultimately impact the Australian economy, but it’s already having an impact on equity markets. TRUenergy’s Hong Kong owner is reportedly starting to think its planned float of the electricity retailer should be pushed into 2013, partially due to market volatility. It’s not all bad news, though, with Jim’s Group – the company behind the unmistakably Australian franchise Jim’s Mowing – looking at its own IPO. Meanwhile, Nexus Energy has managed to do a deal with Shell that doesn’t see a dollar exchange hands (at least for the moment), Paperlinx hybrid holders have had a good day at the expense of the company’s shareholders and Warrnambool Cheese & Butter has signed an exclusive deal with Coles.
TRUenergy, CLP Holdings