Takeover target Link Administration managed to squeeze out a $50 million increase in its market capitalisation to $2.6 billion on the back of a profit upgrade that looked a bit flaky.
Bhatia told staff in an email the guidance upgrade was "a great step towards our continued focus on growth and delivering strong performance outcomes – thank you to everyone for your contribution and the part you have played in this result".
The sale of PEXA would open the door for the consortium comprising Carlyle and Pacific Equity Partners to return and possibly continue with their bid to own the core Link superannuation fund administration business.
Last October, Carlyle and PEP said they would be willing to pay $3.80 a share for the Link business ex-PEXA.
The Westpac Melbourne Institute Index of House Price Expectations rose 1.1 per cent for January – a normally quiet month for property activity.
The rise in price expectations follows a 9.4 per cent surge in the same index last month to 143.7 – double the lows seen during the COVID lockdowns of April last year.
Westpac chief economist Bill Evans said there were clearly strong prospects for property prices, which the Reserve Bank of Australia has been monitoring.
Earlier this week Commonwealth Bank's Household Spending Intentions series for December 2020 showed that at the end of last year there was a welcome improvement in spending intentions for travel, health and fitness, entertainment and motor vehicles, however home buying and retail spending intentions were flat on the month, following strong gains in November.