December trading began with festive spirit intact as holiday shopping accelerated. RBA December meeting confirmed no cut with January 2026 as likely timing. Global equity markets extended rally on broad risk appetite with emerging markets outperforming.

GMG rallied on portfolio valuation strength and positive rental reversion expectations. Industrial real estate cycle remains strong with supply constraints supporting pricing power. At $24.80, the logistics real estate play offers yield with growth upside.

SEK climbed on job market tightness and recruitment spending acceleration. Employment market dynamics support advertising volume and pricing. At $22.50, the online recruitment play offers earnings visibility with growth optionality.

AGL stabilized on strategic review conclusions with renewable energy credentials strong. Electricity market fundamentals remain supportive with grid investment demands building. At $6.40, the utility play offers income with transformation upside.

December property market transitions to year-end with reduced transaction volumes typical for season. Holiday period sees investors focus on 2026 strategies rather than immediate purchases.

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