Briefs

Mortgage sales fell 3.7% in July, according to the Australian Finance Group Mortgage Index, mainly because of fears of an interest-rate rise and concerns about a carbon tax. For property investors, a fall in mortgage sales can signal softer buyer demand and potentially slower price growth in the short term — something to factor into rental and acquisition plans.

The Mortgage Index showed the largest fall was in Victoria (down 7.4%), followed by New South Wales (down 5.9%). These regional differences can affect local property markets and investor strategies.

Duet Group is seeking to raise $277 million in new capital and has suspended its distribution-reinvestment plan while doing so. It said it expects to pay a distribution in 2011–12 and will offer new shares at a ratio of 1 for 5 at $1.52. Existing security holders should watch for dilution from the new share offer and note the temporary change to the reinvestment plan.

Junior iron‑ore explorer Cazaly Resources agreed to sell its Parker Range project in Western Australia to a large south‑east Asian investment group for about $100 million plus royalties. Those royalties are expected to exceed $80 million, which could provide substantial upside beyond the upfront payment.

Shares in Alchemia rose as much as 11.5% after the company launched the generic blood‑thinning drug Fondaparinux in the US, following 11 years of development. For investors, a US drug launch can be a material revenue catalyst, though ongoing commercial performance and market uptake will determine the longer‑term impact.

Lynas officially opened the Mount Weld mine in Western Australia, described as the richest known deposit of rare earths in the world. The project is a roughly $100 million development in the Goldfields region south of Laverton and could be strategically important for investors following the rare‑earths sector.

Westfield Retail Trust said it will pay a half‑year distribution of 8.1 (per stapled security) for the six months ended June 30. That payout represents 49% of the forecast full‑year distribution of 16.5. Income investors should note the interim payout level relative to the full‑year forecast when planning income expectations.

Spotless Group confirmed it will retain its garment‑hanger business, Braiform, after receiving unsolicited approaches. The company had explored a possible sale but decided against it. For shareholders, retaining Braiform means Spotless is keeping that revenue stream and potential future value rather than crystallising a sale now.