ASX:RRL 4 February 2026

Australia stock market jumps as miners rally, tech gets slammed; Xero sinks

Australia’s S&P/ASX 200 closed up 0.8% at 8,927, lifted by miners and energy stocks as materials surged 3.6%. Technology shares plunged, with Xero down 15.9% and WiseTech Global off 10.7%. The Reserve Bank raised rates by 25 basis points to 3.85%, its first hike in two years. Neuren Pharmaceuticals entered a trading halt.

4 February 2026

ASX:NST·ASX:RRL·ASX:S32·ASX:TNO·ASX:WTC·ASX:XRO·ASX:YAL·Stock Market·Technology

Bill Ackman's Pershing Square proposes $64.4 billion takeover of Universal Music
April 7, 2026, 3:27 AM EDT. Activist investor Bill Ackman's Pershing Square plans to acquire Universal Music Group (UMG) in a $64.4 billion cash and stock deal, offering shareholders 30.4 euros per share-a 78% premium over UMG's April 2 closing price. UMG shares surged 17% following the announcement, reflecting investor approval. The transaction aims to address underperformance linked to shareholder uncertainties and suboptimal communications, factors unrelated to UMG's core music business. Post-merger, the new entity will list on the New York Stock Exchange, aligning with Ackman's push for a U.S. primary listing to boost liquidity and valuation. UMG, home to stars like Taylor Swift and Lady Gaga, was spun out from Vivendi and is currently 23% up this year.