0257 GMT - Ansell is likely to be the Australian healthcare stock that is most exposed to the impact of U.S. tariffs, Citi analysts write in a note. They acknowledge that breath-tech maker ResMed and medical-tech provider Nanosonics are probably impacted, given their manufacturing footprints, but not to the same extent as Ansell. The personal-protective equipment maker sources a majority of its products from Malaysia and Sri Lanka, both of which are among the countries hardest hit by tariffs, generating more than 40% of its revenue from the U.S. The exclusion of pharmaceuticals from tariffs is a relief for vaccine maker CSL, they add. ([email protected])

0248 GMT - Australian plumbing supplies company Reliance Worldwide should be able to mitigate most of the impact of U.S. tariffs through pricing, according to its bulls at Jefferies. They see the additional tariff imposed on China resulting in an additional US$40 million headwind for Reliance, with another US$8 million stemming from tariffs on Australia and the U.K. Reliance's ability to pivot manufacturing to other countries is limited by other regional tariffs, but its strong track record of using price to offset cost inflation gives them confidence that it can cope. Jefferies keeps a buy rating and A$6.50 target price on the stock, while watching for further insights. Shares are down 5.3% at A$4.025. ([email protected])

0243 GMT - Qantas's recent share-price weakness represents a buying opportunity for those looking to enter the Australian carrier, Jefferies analysts suggest. They acknowledge that weaker consumer and business sentiment toward the U.S. could result in lower demand on Qantas's Australia-U.S. routes, but aren't overly concerned. They think that United Airlines' announcement of three weekly flights between San Francisco and Adelaide suggests confidence in U.S. outbound demand. They also remind clients in a note that any weakness in U.S. airlines reflects the outlook in the U.S. economy, which contrasts with improving consumer sentiment in Australia. Qantas shares are down 1.4% at A$8.46, a level they last touched in November. ([email protected])

0235 GMT - The additional A$250 million in capital overlay that ANZ is now required by regulators to hold moves UBS analyst John Storey to lower his dividend forecasts. Storey trims his dividend-per-share forecasts by about 7.5% for each of the three years through fiscal 2027, also taking into account the bank's soft CET1 ratio from its most recent quarter. Factoring in the lender's completed acquisition of Suncorp Bank, he also lowers his EPS forecasts for the period by about 5%. He tells clients in a note that this reflects Suncorp Bank's annualized costs and group guidance of 2.4% operating-expense growth for the current year. UBS lowers its target price by 8.8% to A$31.00 and stays neutral on the stock, which is down 2.0% at A$28.68. ([email protected])

2354 GMT - Breville's long-term global growth story is unlikely to be derailed by U.S. tariffs but uncertainty remains over near-term impacts, UBS analyst Apoorv Sehgal warns. While he sees several options for the small-appliance maker to mitigate the impact of tariffs on its U.S. business, Sehgal doesn't see compelling value in a stock that is trading at 32x his fiscal 2026 earnings forecast. He tells clients in a note that the Australian company could raise prices, ask manufacturing partners to wear some of the costs, reduce discounting, reallocate sales to higher-margin retailers, or reallocate resources to growing sales in other geographies. UBS cuts its target price 11% to A$33.10 and keeps a neutral rating. Shares are down 10% at A$26.96. ([email protected])

2340 GMT - Australia's Ansell could face intensifying competition while it implements changes to its sourcing and pricing agreements, Jefferies analysts say. They tell clients in a note that it will take time for the personal-protective equipment manufacturer to implement its response to U.S. tariffs. Writing prior to Ansell's announcement that it will hike its U.S. prices to offset tariff impacts, the Jefferies analysts observe that the company has greatest pricing power in categories where it has leading market share. They also reckon that Ansell has flexibility with outsourced products to pull supply from lower-tariffed countries. Jefferies has a last-published hold rating and A$42.00 target price on the stock, which is up 3.75% at A$30.44. ([email protected])

2204 GMT - New Zealand's NZX-50 lost 1.2% inside the first hour of Friday's session, suggesting that the tariff-driven sell-off of regional equities is set to extend into a second day. Financial, consumer, real-estate and aged-care stocks were all in the red as the benchmark index, which was coming off a narrow gain, opened lower and kept slipping. Among the largest losers was The a2 Milk Company, which has been trying to expand its infant-formula sales into the U.S. The stock was down 4.8%. Recreational-vehicle rental provider Tourism Holdings slumped 5.2% after warning of weaker consumer sentiment toward vacationing in the U.S., where it operates. ([email protected])

1208 GMT - Rio Tinto's CEO says shareholders "shouldn't be too worried" about the escalating tariff war, saying the world's second largest miner by value will navigate any changes in trading between nations. Rio Tinto both runs big operations in and is a big supplier of foreign commodities into the U.S., Jakob Stausholm tells investors in London. "There might be certain things that go in our favor, there might be certain things that don't go in our favor," he says. Aluminum tariffs pose a challenge for the miner, which is the biggest aluminum producer in the West and ships significant amounts of the metal into the U.S. from Canada. In that business, "there will be an impact, but it is manageable," Stausholm says. ([email protected]; @RhiannonHoyle)

1134 GMT - Rio Tinto's board has "zero bias" in where it should be based, Chairman Dominic Barton tells a London shareholder meeting, as he defends an internal review of the miner's dual-listed structure. "I can assure you that this board would be very happy to live in Greenland if that meant that we could get a better share price," Barton says. Shareholders will vote on a resolution requisitioned by activist investor Palliser Capital, which has requested an independent review into unification of Rio Tinto in Australia. Rio Tinto's equity holders in Australia will get their say on May 1 at which point the vote outcome will become known. Rio Tinto has urged shareholders to vote against the resolution. ([email protected]; @RhiannonHoyle)

(END) Dow Jones Newswires