Daily FNArena News - Australia

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.

ALS is enjoying positive trends in geochemistry & metallurgy but its life sciences division still lags commodities as margin pressures remain stubborn.

Metcash signalled earnings are likely to be flat in FY18 and it may lose a customer from FY20. Brokers are underwhelmed by the news.

Conditions in the outdoor advertising sector have improved substantially in 2018 and APN Outdoor has upgraded its guidance.

Reliance Worldwide will acquire PTC fitting manufacturer John Guest and tackle expansion in Europe.

Wesfarmers will sell its troubled Homebase/Bunnings venture in the UK, a move welcomed by brokers as the financial outcome is better than feared.