Daily Financial News - Australia

The Iron Bridge magnetite project has strong economics, brokers acknowledge, but this depends heavily on Fortescue Metals obtaining a significant premium to benchmark pricing.

Incitec Pivot has provided further detail on the financial impact of the myriad problems impacting in FY19. These are mostly considered one-off issues and a better FY20 is expected.

Charter Hall Retail will acquire Rockdale Plaza, providing an opportunity for both non-rental income and improved mix of stores.

While a buyback is pleasing and should underpin the stock in the short term, brokers suspect the closure of struggling Big W stores may not be enough to counter the headwinds facing Woolworths.

Charter Hall Education Trust has acquired 13 early learning centres in various stages of development, providing an attractive growth path.

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

Coles Group is implementing the Ocado online fulfilment platform over the next four years but brokers are unsure about the extent of the benefits.

Challenger is meeting the pressures on domestic demand by expanding its arrangements to include US-dollar denominated annuities in Japan.

Premier Investments is accelerating its emphasis on the Smiggle brand as it expands an online and wholesale business globally, although sales growth for established Smiggle markets eased back in the first half.

Westpac Banking Corp has recognised more salaried adviser remediation and brokers suspect this may just be the start of further provisions across the banking sector.