0132 GMT - Karoon Energy has dented investor confidence again, but Citi finds reasons to stay constructive. Karoon says a new setback at its Bauna oil field in Brazil has led to the deferral of some 1,600 barrels of oil a day. Citi says it will likely cost around US$5 million to fix the problem: a subsea control umbilical disconnection. Analyst Tom Wallington points out that Karoon's annual production guidance remains intact. Bauna had performed strongly in 3Q compared to Citi's forecast. "We emphasize that the key issue is restoring investor confidence as the FPSO transitions into Karoon's ownership, which should allow better oversight of maintenance and risk management," Citi says. In February, Karoon agreed to a US$115 million cash deal to buy the floating production storage and offloading vessel, or FPSO, at Bauna. ([email protected]; @dwinningWSJ)

0010 GMT - Gold miner Kingsgate reports better-than-expected production and cash for 1Q FY 2026 in what looks like "a strong quarter for the business," say Moelis Australia analysts Paul Hissey and Nic McRostie. "While we await the full release for greater detail, the combination of higher output, stronger cash generation and a relatively steady cost base suggests unit costs are likely to outperform our estimates," they say in a note to clients. The analysts forecast costs of US$1,626/oz before royalties. They say it is encouraging to see continued momentum at Kingsgate's Chatree mine. Moelis Australia has a buy rating and a target price of A$6.20 on Kingsgate. The stock is up 2.0% at A$4.11. ([email protected]; @RhiannonHoyle)

2344 GMT - WEB Travel's trading update reduces risks around its upcoming 1H earnings, Shaw & Partners says. WEB Travel says its 1H bookings lifted 18% on year to 5.07 million and total transaction value, or TTV, reached A$3.17 billion. Management reiterated a forecast for TTV margins of at least 6.5% in FY 2026 and said the business remains on track for record Ebitda. "The travel sector has been de-rating of late following travel weakness in the Middle East and U.S. and we see (the) update alleviating investor concerns," says Shaw. The bank sees FY 2025 as a "rebasing year" for WEB Travel with 15%-20% Ebitda growth to resume from FY 2026. Its price target is raised 1.6% to A$6.40/share. WEB Travel is down 0.2% at A$4.16. ([email protected]; @dwinningWSJ)

1919 ET - Morgans has increased confidence in Veem's ability to secure more defense contracts following a nine-year manufacturing licensing agreement with Northrop Grumman. Veem will supply Northrop with a range of pre-determined parts to its Virginia Class submarines. Analyst Alexander Lu says this deal marks a major milestone for Veem. "While earnings may be volatile in the near term, we believe the opportunities in defense, propulsion and gyros provide strong growth potential over the long term," Morgans says. Veem's share price has more than doubled from its June low to A$1.405. Morgans downgrades the stock to accumulate, from buy, following that rally but raises its price target by 28% to A$1.66. "We view further contract announcements as potential positive catalysts for the stock." ([email protected]; @dwinningWSJ)

2310 GMT - Morgans pares forecasts for Bank of Queensland's EPS in each of FY 2026 and FY 2027. Analyst Nathan Lead says the 4-6% reduction in the EPS outlook mainly reflects a lower forecast for net interest income. Morgans now sees Bank of Queensland's loan balances weakening further than previously anticipated, citing recent data from Australian regulator APRA. "While Bank of Queensland's dividend is attractive, we suggest investors trim given downside risk from increased uncertainty following removal of FY 2026 return on equity/cost to income targets," Morgans says. Its price target falls 6.3% to A$6.20/share. Bank of Queensland is up 0.7% at A$7.27 today. ([email protected])

2236 GMT - Jefferies reckons mining at South32's Ambler Metals development will start sooner than the bank previously envisaged -- 2033 instead of 2035 -- after the U.S. approved the Ambler Access Road project and bought a stake in South32's joint-venture partner, Trilogy Metals. As a result, South32's stake in the Alaskan project is now valued at A$1.31 billion, up from A$1.13 billion before, according to Jefferies. "Federal approval of the AAR [Ambler Access Road], and equity interest in the project materially enhances execution prospects and accelerates the development timeline," analysts at the bank say. They reiterate a buy rating and A$3.30 target on South32. The stock ended Tuesday at A$2.93. ([email protected])

2156 GMT - Australian stocks are likely to open little changed, with ASX SPI200 futures down by less than 0.1% before the bell. The country's gold miners will have a continued tailwind after the price of gold surpassed US$4,000/ounce for the first time. Copper prices also gained, while iron ore and oil have been holding steady, providing some support to the resource-rich market. On Wall Street, U.S. stocks were also roughly flat in early trading, and ended up posting modest losses. Ahead of the open, Transurban reported a rise in average daily traffic as it maintained a forecast for annual distribution growth of around 6%. ([email protected]; @RhiannonHoyle)

2145 GMT - Jefferies applauds Domino's Pizza Enterprises's choice of new leader to run its Japan business. Domino's Pizza Enterprises late yesterday named Dieter Haberl as CEO of Domino's Japan. His appointment is effective Oct. 20. Analyst Michael Simotas likes that Haberl speaks Japanese and has nearly 30 years of experience running consumer businesses in Japan. "Despite no direct Quick-Service Restaurant experience, CV suggests a deep understanding of the Japanese consumer and culture," Jefferies says. "Domino's Pizza Enterprises still has to restore same-store sales growth and improve unit economics, but earnings appear to have stabilized." Jefferies expects the stock can rise if it quantifies a target for significant cost cuts, and keeps a buy call. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires