Daily FNArena News - Australia

ANZ Bank has sold its life insurance operations to Zurich Financial. Most brokers consider the price reasonable and speculate about the use of the proceeds.

Oil and gas explorer AWE has landed a second bid in as many days, with Mineral Resources revealing its hand with an all-scrip offer.

Cleanaway Waste Management intends to acquire Tox Free Solutions, consolidating Australia’s waste management industry, and brokers are largely positive about the merger.

Cost pressures are mounting for miner South32 but so far higher commodity prices have enabled margins to increase across the operations.

Insurance Australia Group has done another quota share deal, this time with a group of reinsurers. Brokers suggest the advantages are already factored into the stock.

ASX has decided to replace its CHESS system with a distributed ledger technology. While this has potential to create new revenue opportunities, broker suggests it will be some time before these become evident.

Demand for new houses and land across the major centres of population in Australia is likely to start easing, BIS Oxford Economics suggests.

Metcash has a net cash position and will contemplate capital management. Nevertheless, brokers have mixed views on the ability to turn around the supermarkets business.

A slump in occupancy and higher costs have driven G8 Education to downgrade earnings. Many brokers consider the drop in the share price presents an opportunity.

Telstra has tweaked revenue and earnings estimates lower for FY18 in view of the NBN decision to delay the roll out of HFC technology. Yet several brokers remain more concerned about the increasing influence of wireless.