Daily Brief Australia: Western Gold Resources, Nextdc Ltd, Iron Ore and more

• ASX 200 index rebalancing: West Gold and Yancoal added, Strike Energy removed
• Impact on stock prices and trading dynamics around index inclusions and removals
• Observations on companies prematurely entering the index and facing challenges after being removed

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• Nextdc Ltd (NXT AU) aims to raise around US$366m via a fully underwritten institutional placement, along with another US$133m via a non-underwritten SPP.
• The company has undertaken a number of deals in the past, most of which have done ok. Although this one appears to be a bit opportunistic.
• In this note, we will talk about the deal dynamics and run the deal through our ECM framework.

• Iron ore prices declined 9.4% last week, closing below the monthly S1 pivot point, indicating resistance.
• Despite a brief 0.75% rise on Friday, prices signaled a bearish crossover in the 9D and 21D SMAs, reinforcing negative sentiment.
• The 91-price level remains strong support, with key resistance levels at 93.9, 95.7, and 98.9. A sharp reversal could push prices to 96.5 or higher.