2345 GMT [Dow Jones]--Australian homebuilder Mirvac's share price falls 2.8% to A$1.77 despite holding its earnings and settlements guidance steady against a backdrop of strengthening debt headwinds. Jefferies notes Mirvac has introduced language around settlements expectations being skewed to 2H. "The slowdown in residential activity was better than feared, with sales down 17% and leads down 30% in the 1Q versus 4Q FY26," analyst Andrew Dodds says. Default rates increased 1.1% in 1Q, from 0.3%, which is something to keep an eye on, he adds. Jefferies had a buy call and A$2.09/share price target on Mirvac ahead of the 1Q update.
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