10:01 AM
Weekly Broker Wrap: Refining package revives Viva/Ampol, BNPL users a disloyal mob, Oz utilities squeezed by renewables, Oz banks cut costs
-Canberra s rescue package improves Ampol/Viva’s earnings outlook
-Global BNPL transaction forecast to grow to US$2.7trn by 2030
-Wholesale electricity prices forecast to remain under $60/MWh until 2026
-Westpac leads bank cost-cutting
Refineries: Rescue package
In an attempt to ensure Australia’s two last remaining refineries owned by Viva Energy ((VEA)) and Ampol (formerly Caltex Australia) ((ALD)) stay open until at least 2027, the federal government has released a fuel security package for the local downstream and refining industry. Morgan Stanley believes government announcements will give the investment community more confidence that both companies can hit 2022 consensus forecasts.