Daily Financial News - Australia

Struggling retirement village developer Aveo Group may have been thrown a lifeline by a potential suitor, but the picture is not pretty if the deal falls through.

Yesterday’s share price reaction to an earnings miss from Metcash makes the stock look cheap, but is it a “value trap”?

Analysts are scratching their heads as to why Adairs’ sales have suddenly collapsed but see value in the stock after Friday’s big share price fall.

Financial group CYBG plans to exploit its under-utilised customer base through enhanced products and services, re-branding as Virgin Money by the end of the year.

Link Administration is keen to highlight expansion and growth opportunities, although brokers remain concerned about pockets of weakness and volatility.

BlueScope Steel provided a disappointing update for the market, downgrading earnings guidance amid soft building product volumes in both Australia and North America.

Pilbara Minerals is reducing its output of lithium from Pilgangoora to meet the requirements of its offtake partners as its refinery ramp-up is behind schedule.

ANZ Bank economists note the Aussie dollar is no longer being supported by commodity prices as has typically been the case.

Disruptions to the adviser group and ultra-low interest rates are providing significant headwinds for Challenger. Brokers, while disappointed, welcome the re-setting of targets.

Online retailer Catch Group is the purchase of the day for Wesfarmers, expected to enhance the offering from Kmart and Target.