Daily FNArena News - Australia

ANZ Bank will sell part of its wealth management business to IOOF for $975m. Brokers suggest the deal is not optimal for ANZ but should provide further scale for IOOF.

Having sold Edna May, Evolution Mining has improved its debt position and portfolio quality, narrowing its focus to strong producing mines.

OZ Minerals offers leverage to copper prices with substantial reserves at Prominent Hill and Carrapateena. The main issue for brokers is the uncertainty of the power supply to Prominent Hill.

The Australian government’s changes to health insurance centre on prostheses and addressing the decline in the insured 20-30-year olds. Overall, brokers are sceptical the reforms will be enough to make a dent in the trend.

The main positive that brokers glean from Bank of Queensland’s FY17 results is the improved capital position and they speculate how the bank may divvy up the funds.

Aristocrat Leisure now addresses gaming products to 92% of the North American installed market and brokers are increasingly attracted to the growth opportunities.

Domino’s Pizza continues to lead in digital innovation, showcasing to brokers the improvements to its food delivery options.

WorleyParsons is increasing its exposure to the maintenance, modifications and operations market with an acquisition in the North Sea. Brokers are undecided.

The healthcare industry faces several developments which could influence stock performances in the next few months. A key item is reform to the Australian government’s Prostheses List.

Orchardist Costa Group appears well placed to deliver solid earnings growth, as it conducts efficiency programs and upgrades facilities.