Daily FNArena News - Australia

BA Merrill Lynch has reinstated coverage on Downer EDI with a Buy rating, attracted to a stronger balance sheet and exposure to diverse markets among the engineering/construction sector plays.

While total ad market spending rose slightly in the June half the figures for August showed weak market conditions, prompting JP Morgan to adjust expectations across the media sector.

Ardent Leisure has expanded its health club assets and the key positive is the structure used, as brokers see greater flexibility to invest in further growth.

A review of McMillan Shakespeare’s profit result leaves Goldman Sachs expecting solid earnings growth in coming years.

Global growth is slowing – especially in advanced-technology economies. Regardless of cyclical trends, long term economic growth may grind to a halt.

BA-ML has offered an overview of the A-REIT market in general, while UBS and JP Morgan have looked more closely at residential and office plays and Goldman Sachs has assessed Westfield Group against US peer Simon.

Analysts debate whether a good run for Australian healthcare defensives means time to take profits, or not.

Emerging energy producer Drillsearch is starting to attract more attention in the market. Deutsche Bank initiates with a Buy rating.

NRW Holdings has clarified its loss of contract work due to Fortescue’s expansion deferral, but brokers agree the impact is minimal.

Reviews of results for the A-REIT sector continue to flow through, with UBS updating its preferences and JP Morgan offering additional analysis on the retail sector.