Stocks to watch at the open

Investors will home in on clues about ANZ's offshore strategies, while the market looks to Domino's Pizza AGM for acquisition guidance.

ANZ Bank

ANZ Bank reported for the full year this morning. The banking group comfortably beat consensus expectations for cash earnings of $6.45 billion, reporting a cash profit after tax of $6.5 billion.

While the numbers are broadly in line with expectations, attention will centre on ANZ Bank's Asia business, with recent analyst reports suggesting its move into the region has led to a profitability lag in comparison with its Big Four peers. The final numbers on progress and profitability in Asia today will no doubt be the focus of analysts and the market alike. 

Domino’s Pizza

Domino’s Pizza holds its annual general meeting today. Domino’s has had an impressive year, gaining 55 per cent in value.

The acquisition of Domino’s Pizza Japan was expected to be completed by the end of September, so the market will be looking for any guidance from management as to the status of the acquisition.

While operationally the pizza maker has excelled in Australia, it now faces execution risks in Europe and Japan. Any management commentary flagging operating difficulties in these markets could have a negative impact on Domino’s stock today.

The Domino’s Pizza share price is currently outdoing the majority of analyst target prices.

Related Articles