0038 GMT - Bellevue Gold appears to have enjoyed a strong 3Q, exceeding MA Financial's expectations for production, cash generation and progress on reducing hedge book commitments, says analyst Paul Hissey. "The cash result in particular suggests underlying operational spend is lower than our current estimates which should manifest in lower AISC," or all-in sustaining costs, Hissey says. MA has a buy rating and A$2.20 target on Bellevue. "We expect a strong positive reaction to this news given the uplift in grade [leading to the better production] while the end of the detrimental hedge program now looms as near as 9 months away [on our numbers at least]," Hissey says. Shares are up 15% at A$1.80. ([email protected]; @RhiannonHoyle)

0019 GMT - Greatland Resources reports a strong production beat versus MA Financial's estimates, says analyst Paul Hissey. Greatland reports 3Q gold output of 82,723 oz. MA expected around 71,100 oz. Sales and cash are also higher than anticipated. "Without the production detail, it's hard to dissect the reason for the difference in the production numbers relative to our forecast--although our intuition suggests higher head grades are the likely driver," Hissey says. The numbers "will provide support to what we think is a fully priced equity story at this stage," he adds. MA has a sell rating and A$11.50 target on Greatland. Shares are up 13% at A$15.10. ([email protected]; @RhiannonHoyle)

0017 GMT - President Trump's post on Truth Social that he would suspend attacks on Iran for two weeks spurs risk-on sentiment among equity investors. Australia's S&P/ASX 200 rises 2.7% soon after opening, pushing the benchmark index back toward levels last reached around a month ago. Fuel refiners and marketers Ampol and Viva Energy aren't benefiting today, though. The Iran conflict has boosted refining margins, so the potential unblocking of the Strait of Hormuz following any cease-fire risks unwinding those gains. Ampol drops 5.2% to A$31.69, putting it on course for its lowest close since March 18. Viva Energy is down 8% at A$2.43. ([email protected]; @dwinningWSJ)

2314 GMT - NextDC's decision to raise A$1 billion from issuing hybrid securities removes pressure on the data-center operator to raise equity, at least in the short term, says Jefferies. NextDC's hybrid securities offer is underwritten by Canada's La Caisse. Analyst Roger Samuel says NextDC had proforma liquidity of A$5.2 billion at end-December 2025, if the hybrid securities are accounted for. It includes A$278 million in cash. "This provides runway for the next two years, or circa 250MW of data center build-out, based on build costs of circa A$20 million/MW including core and shell (ex-land)," Jefferies says. It retains a buy call on NextDC and lowers its price target by 11% to A$16.60/share. NextDC ended Tuesday at A$12.60. ([email protected]; @dwinningWSJ)

Morgan Stanley views Bank of Queensland's planned whole-of-loan sale, on-market buyback and special dividend as positive, analysts Richard Wiles and Sally Hong say in a note. "The transaction and capital management initiatives will be ROE [return on equity] accretive, reduce the capital intensity of growth and improve the funding mix," the analysts say. BOQ expects ROE accretion of 15-25 basis points. MS estimates modest earnings per share accretion of less than 2%. MS has an equal-weight rating on the stock, with a A$6.50 target. Shares ended Tuesday up 6.9% at A$7.27. ([email protected]; @RhiannonHoyle)

2305 GMT - Bank of Queensland's planned roughly A$300 million capital return should take the form of a special dividend, says Macquarie. BOQ flagged the capital return when selling its A$3.7 billion equipment finance book to Challenger, but didn't specify whether it would pursue a special dividend or share buyback. "Given BOQ has a significant (>A$600 million) stranded franking balance, we think directing the entire A$300 million capital return to a special dividend represents the most efficient option," Macquarie says. It assumes a special dividend of A$0.45/share in 2H. ([email protected]; @dwinningWSJ)

2254 GMT - The rise in Australian household spending in February may represent the calm before the storm. Jarden says spending is slowing, caution is rising and it's beginning to see a change in spending patterns. So far this has been most obvious among less-affluent groups. They juggled higher fuel costs in early March, which led to lower spending on groceries. As food retailers put up product prices and consumers pivoted to eating at home, so grocery spending picked up again. Analyst Ben Gilbert says discretionary spending on tech items remains resilient. Elsewhere, bigger ticket items are being deferred and fashion is mixed. Jarden's top pick in discretionary retail is JB Hi-Fi. Overall, its sector preference shifts to staples and health, notably Sigma Healthcare, Woolworths, Coles and Metcash. ([email protected]; @dwinningWSJ)

2247 GMT - Mexican food chain Guzman y Gomez's better-than-expected sales don't shift Jarden's neutral view of its stock. GYG reported 6.6% growth in like-for-like sales in Australia in 3Q. That implies an acceleration to around 9% in the past five weeks. Analyst Ben Gilbert says that is a strong result given a challenging macro backdrop. It also didn't come at the expense of profit margins. Jarden lifts its net profit outlook for FY 2026-2028 by 2-8%. Still, the bank thinks GYG's like-for-like sales will ease as consumers cut spending. GYG also faces cost headwinds in the near term, including for labor and rents. Jarden raises its price target by 1.2% to A$17.30/share. GYG ended Tuesday at A$18.02. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires