0234 GMT - Making Australia a hard place for scammers is a key goal for the country's banking system as it looks to stop the movement of money, Westpac CEO Peter King says. He also sees educating customers and "hardening up" the telecommunications system as key, he tells the Australian Banking Association conference. At the same time, taking action on social media is paramount. "We need action on social media," King says, adding that platforms need to take down and "pull down" investment offers published on their platforms. (alice.uribe@wsj.com)

0216 GMT - Lynas's decision to start separating heavy rare earths dysprosium and terbium in Malaysia will accelerate the need for it to find third-party supplies for its planned processing facility in the U.S., says Ord Minnett analyst Matt Hope. The company intends to produce roughly 2,500-3,000 metric tons of heavy rare earth oxide annually in Texas from 2026, he says. "It now seems residues from Malaysia will not be available long term, and Mt Weld has the wrong REE [rare earth element] mix to be the sole supply," says Hope. Lynas is down 0.3% at A$5.965. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0205 GMT - With inflation still in the Australian system, it's hard to know whether there'll be another interest-rate increase, or whether they'll stay where they are, says Westpac CEO Peter King. Speaking about the economy in general, King says business sentiment has held up "pretty well," while the consumer segment's sentiment remains very low. "We hope that consumer sentiment will lift as we enter into a rate-cutting cycle at some point in the future," says King at the Australian Banking Association conference. He adds that demand for housing and business lending remains, and the credit quality of its loan books are in "good shape." Of Westpac's 12 million customers. Only 12,000 are in hardship arrangements, he adds.(alice.uribe@wsj.com)

0109 GMT - Ramelius Resources' purchase of a 8.9% stake in a smaller rival is likely to keep an M&A discount on its stock in the near term, says Ord Minnett analyst Paul Kaner. Ramelius says its investment in Spartan, which owns the Dalgaranga gold project, is strategic, with the project located some 40 miles northeast of its own Mt Magnet project in Western Australia. "This now gives Ramelius more exposure to the broader Murchison regional consolidation," says Ord Minnett. "Interestingly, this has occurred whilst the potential merger between Westgold and Karora unfolds, making this move by Ramelius seemingly more opportunistic." Still, Ramelius doesn't yet have a blocking stake of at least 10.1%, the bank adds. (david.winning@wsj.com; @dwinningWSJ)

0013 GMT - Aristocrat Leisure's FY 2029 target for US$1 billion in interactive revenue looks achievable to its bull at Macquarie. The investment bank's analysts tell clients in a note that the target could generate about US$400 million to US$500 million in segment profit, which would be about 16% of the group's total. The Australian gaming-tech company's target implies annual average revenue growth of 20% over five years, which the analysts say would come from increased North American market share and entering new jurisdictions. Macquarie lifts its target price 8.9% to A$55.00 and keeps an outperform rating on the stock, which is down 2.3% at A$48.88. (stuart.condie@wsj.com)

0005 GMT - Citi analyst Adrian Lemme makes no changes to his forecasts for Aristocrat Leisure but sees potential for the gaming-tech company to surpass them after it unveiled a new US$1 billion five-year revenue target. Lemme tells clients in a note that he sees potential upside to both his interactive and margin assumptions, highlighting management's confidence that it can hit the target. Aristocrat's target for at least US$900 million in interactive revenue compares with Lemme's US$590 million forecast and will rely on growth in both existing and new markets. Citi keeps a buy rating and A$53.00 target price on the stock, which opened 1.5% lower at A$49.25. (stuart.condie@wsj.com)

2326 GMT - Australian supermarkets' premium valuation multiple jars with the sector's challenging near-term outlook for Wilsons analysts, whose focus portfolio has zero exposure to the retailers. The analysts tell clients in a note that their longer-term expectations is for the sector to show below-market earnings growth. They point out that cost-of-living pressures on consumers, easing food prices and regulatory risks are all near-term headwinds. Looking further ahead, they see these mature businesses facing increasing competition. German supermarket chain Aldi has also grown its market share to 9.5% and has ample room for further growth, they say. (stuart.condie@wsj.com)

2314 GMT - Charter Hall Long WALE REIT's completion of its asset-sale program doesn't persuade Citi to turn bullish on its stock. While asset sales may have resolved gearing concerns, they were done at large discounts to book values, analyst Suraj Nebhani says in a note. "Downward valuation movements will likely move gearing up again at June 2024, but we believe that Charter Hall Long WALE REIT should now be relatively well protected from a covenants perspective," Citi says. "Valuation is attractive, but we do see scope for downside to earnings in FY 2026 as debt costs reset to market levels." The bank retains a "neutral" call on the stock. (david.winning@wsj.com; @dwinningWSJ)

2313 GMT - Dexus' latest office transaction sends a bearish signal to investors who thought valuation write-downs would soon be a thing of the past, suggests Citi. According to the Australian Financial Review Dexus and CPPIB sold joint half stake in 5 Martin Place for A$310 million, representing a 6.1% cap rate. It comes just days after Dexus signaled the weighted average cap rate for its office portfolio expanded by some 48 basis points, to 6.01%, at end-June. "We see this transaction as sufficient evidence, alongside the recent 255 George Street transaction, for potential portfolio valuation write-downs across our office REIT coverage in June 2024 and potentially December 2024," analyst Howard Penny says. (david.winning@wsj.com; @dwinningWSJ)

2256 GMT - Paladin Energy's planned $833 million acquisition of Fission Uranium removes an obstacle that had prevented Bell Potter from turning bullish on the stock. Analyst Regan Burrows had been concerned about the lack of viable near-term growth options available to Paladin. But acquiring Fission's Paterson Lakes project in Saskatchewan, Canada, resolves that. "By the turn of the decade, Paladin could be producing 15 million lbs U3O8 annually (13.5 million lbs attributable) across two sites," Bell Potter says. So, what is the new business worth? "On a enterprise value/lb of production value, we would argue it's significantly more than the current implied combined market capitalization. On a discounted cash flow basis, it sits somewhere in between," Bell Potter says. "Either way, we argue the new Paladin is bigger and better." (david.winning@wsj.com; @dwinningWSJ)

0500 GMT - Australian households with more leverage are the ones most likely to sell a property amid the high interest rate environment, says Reserve Bank of Australia assistant governor Chris Kent. "The fact that the housing market is in a fairly positive condition in terms of prices rising, makes that job much easier," he tells the Australian Banking Association conference. While he sees deleveraging in the household sector, properties are being sold to those who have less leverage. "They're putting down a larger deposit," he says. (alice.uribe@wsj.com)

(END) Dow Jones Newswires