Daily FNArena News - Australia

Fortescue Metals has amassed a 19.9% stake in Atlas Iron and does not intend to support the current deal with Mineral Resources, unleashing speculation as to its true intentions.

Wesfarmers is taking on more disciplined approach to future capital deployment and brokers believe management is signalling a preference for a smaller, better-returning base.

Brokers suggest A-REITs are likely to continue finding support amongst the global investment community, given an increasing need for annuity income and scarcity of investment-grade real estate.

Momentum continues for Domino’s Pizza, whose technology stands to benefit from continued growth in digital sales and the upcoming FIFA World Cup.

Are the risks for Australia’s major banks increasing? Several brokers believe so while others consider the outlook more benign.

ACCC concerns regarding the transaction with Reckon have likely led to MYOB deciding, instead, in favour of investing in its own product and client development.

Development of the higher-grade Eliwana mine should allow Fortescue Metals to transition to a premium iron ore product, which could lift earnings and valuation.

Brokers are enthusiastic about the potential of the new client trading platform demonstrated by Steadfast Group at its investor briefing.

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

Brokers are keen on the deal between Galaxy Resources and POSCO that will allow for funding of the Sal de Vida lithium brine project in Argentina.