BUZZ-Bell Potter initiates coverage for Southern Cross Electrical Engineering with 'buy' rating ** Bell Potter initiates coverage for Australia's Southern Cross Electrical Engineering SXE.AX with a "Buy" rating at a target price of A$2.10 per share ** "We expect SXE will deliver EPS growth of 41.3% in FY25, with our FY25 EBITDA estimate of $53.8m c

BUZZ-Sticky inflation restricts 1H gains for Aussie staple consumer firms ** Australian staple consumer stocks .AXSJ on track to gain a meagre 1% in 1H24, underperforming the broader benchmark index .AXJO ** Top Aussie supermarket chain Woolworths Group WOW.AX has lost 9.6% in 1H24, eyeing its worst half-year since 2016 ** Sticky inflation across the spectrum has meant consumers are cutting down on spending ** Westpac senior economist says pessimism prevails among consumers and high inflation ha

BUZZ-Morgan Stanley flags margin pressure for Australia's Metcash amid high costs ** Analysts at Morgan Stanley say supermarket wholesaler Metcash Ltd's MTS.AX retail margins are under pressure due to rising costs ** Co posts FY net profit attributable A$257.2 million ($170.50 million), lower than A$259 million recorded last year ** Shares rise as

BRIEF-Woolworths Announces Response To Final Food And Grocery Code Review June 24 (Reuters) - Woolworths Group Ltd WOW.AX : RESPONSE TO FINAL FOOD AND GROCERY CODE REVIEW NOTE FEDERAL GOVERNMENT’S RESPONSE TO FINAL REPORT’S RECOMMENDATIONS, WHICH WE ARE CONSIDERING IN DETAIL REITERATES SUPPORT FOR CODE BECOMING MANDATORY AND BELIEVE HEALTHY RET

UPDATE 1-Australia to make supermarket industry code mandatory, breaches may result in huge fines Adds Metcash comment in 10th paragraph By Byron Kaye SYDNEY, June 24 (Reuters) - Australia could impose billion dollar fines on big supermarket chains that fail to comply with an industry code of conduct, the federal government said on Monday as it seeks to address concerns that suppliers have been unfairly squeezed on pricing.