Ann: FY24 Earnings Guidance, page-7

Considering the ASX was expected to be 0.6 per cent down for today, initial reaction to IPG's update with an almost five per cent rise in the SP was very positive.

But early days, and as usual, 'Mr Market' can quickly turn grumpy, especially if other factors like bond yields rise due to the forthcoming USA November 2024 Presidential/House/Senate election, higher inflation, geopolitical instability or other factors.

"Electrification" overall is not going well although retaining Eraring power station in NSW for up to four years longer is a positive. We have to stop demonising coal and natural gas/LNG as these are not just great export earners for Oz but also reliable 24/7 providers of electricity, unlike wind and solar as we see lately with cold nights in southern OP when the wind ain't blowin'.

Many "electrification" initiatives seem to require government funding/subsidies. Not good!