ASX gains as Citi lifts EPS forecasts on stronger trading activity

ASX

08/10/2026 24:42

Updates
** Shares of Australia's bourse operator ASX ASX.AX rise as much as 4.4% to A$60.890, hitting their highest level since August 13
** Stock logs its biggest intraday pct gain since September 17
** Stock among top gainers on broader ASX200 benchmark index .AXJO
** Citi maintains its "neutral" rating on ASX and revises its target price to A$61
** Brokerage says core business continues to deliver solid revenue growth, but near-term earnings remain constrained by elevated costs
** Raises its FY27 EPS estimate by 2% and FY28-FY29 EPS estimates by 1%, citing sustained strength in trading activity
** Citi notes corporate markets activity remained subdued, with A$4.2 billion raised in September, but says near-term listings pipeline is improving
** Adds its initial view of ASX's new CEO is positive, citing focus on completing the regulatory change programme, bringing in external talent and modernising technology
** Stock up nearly 20% ytd, including day's moves

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))