Daily FNArena News - Australia

Personal care product manufacturer/distributor BWX will acquire its second US brand as it seeks to expand its presence in the US natural skin care market.

The number of ASX initial public offerings dropped in the September quarter but IPO performance remains solid.

Mount Gibson Iron is progressing with its re-development work at Koolan Island, with the project on track to achieve its first iron ore shipments in early 2019.

Increasing demand for nickel in the battery market has provoked interest in Western Areas. Some brokers, but not all, are on board with this theme.

Domino’s Pizza will acquire Germany’s Hallo Pizza, the country’s largest independent pizza chain, which will install Domino’s as the market leader in that country.

Nufarm has progressed with its transformation and there is scope for continued earnings growth, although Morgan Stanley believes this is yet to be factored into the market’s outlook.

Perseus Mining’s Edikan mine is now a reliable producer, after difficult early years, and brokers suggest positive momentum for a re-rating is now building.

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.