Hot Stocks: Johns Lyng, Cromwell Property Group, Ventia

The Australian sharemarket dipped slightly this week, down from 8,603.00 last Friday, but remains up 9.6% year-on-year. The Reserve Bank surprised markets on Tuesday by holding the cash rate at 3.85%, defying expectations of a cut. The Australian dollar traded steadily around 65 US cents, reflecting cautious optimism amid balanced domestic and global signals.

In the US, equities pushed higher, with the S&P 500 and Nasdaq hitting fresh record closes. Nvidia briefly topped a US$4 trillion market cap after rising 0.8% on Thursday to US$164.10. Markets turned volatile midweek after President Trump confirmed new tariffs starting August 1, including a 50% duty on copper imports, sending prices sharply higher. His proposal for a 200% tariff on pharmaceuticals rattled the healthcare sector, prompting CSL to call for more targeted measures to protect global medicine supply chains.

In Friday’s company news:

Johns Lyng (ASX:JLG) has entered into a Scheme Implementation Deed with Sherwood BidCo (a Pacific Equity Partners vehicle), under which all shares will be acquired for $4.00 each, valuing the company at approximately $1.1bn equity value and $1.3bn EV. The deal implies a 77% premium to the share price before the offer and has unanimous support from JLG’s Independent Board Committee. Major shareholder and CEO Scott Didier (17.6% stake) has entered a Co-Operation Deed and will elect to take scrip consideration. The deal is subject to shareholder, court, and regulatory approvals, with implementation expected in November.

Cromwell Property Group (ASX:CMW) has secured a 15-year lease with a Commonwealth Government entity for a new 19,800 sqm, 6-star rated office development in Barton, ACT. The facility, near Capital Hill, will consolidate multiple government departments. This strategic project marks Cromwell’s post-simplification growth phase and is expected to attract future capital partners. Separately, the company has renegotiated its bilateral debt facilities, reducing its average drawn credit margin from 1.77% to 1.31%, reflecting a strengthened balance sheet following its European asset divestment.

Ventia (ASX:VNT) has been awarded a contract amendment by NBN Co worth approximately $280m over 3.5 years, with an optional 2-year extension. The work involves upgrading approximately 43,400 premises from Fibre to the Node to Fibre to the Premises in the ACT-North region. The contract expands Ventia’s geographic footprint in fibre deployment and reinforces its role in NBN Co’s national upgrade program. Work is set to commence in mid-July.