Daily FNArena News - Australia

BHP’s bid for Potash was a clue, as was BHP and Rio’s request for an extension from the ACCC, but at least one broker has now removed the Pilbara JV from its valuation model.

If the Sydney-Melbourne air route is the third busiest in the world as of July, then Australia’s ex-mining economy can’t be all that bad, suggests CommSec.

An impressive European hybrid issue is another incremental positive along the road to GLNG’s second train and a share price re-rating for Santos.

Myer met expectations with its full year profit result but stockbroker opinions on the stock remain mixed.

Molopo is developing unconventional oil deposits in Canada and while these imply additional risks there is significant upside on offer in the view of Macquarie.

Citi sees some question markets for Beach Petroleum, as spending for growth has not been successful and there may be little value in the company’s shale assets.

On the back of increased expectations for Australia’s winter crop production, stockbrokers have lifted forecasts and price targets for major beneficiary Graincorp.

Southern Cross Equities has initiated coverage on QRxPharma with a Speculative Buy rating, seeing the group’s MoxDuo drug as a potential company maker.

Brokers agree that Australian banks are already well positioned to comply with new international banking requirements stemming from the Basel III accord. But what happens now?

Stockbrokers continue to see value in Platinum Australia at current share price levels.