Daily FNArena News - Australia

The near 30% price fall in Allco Finance Group shares since Mid-March is overdone according to Intersuisse, the broker rating the stock as a strong Buy at current levels.

The Westpac-Melbourne Institute Index of Consumer Sentiment rose to 115.7 in September from 111.1 in August.

Newcrest has become the latest major gold producer to commence buying back its hedge book. A thumbs up from analysts everywhere.

Intersuisse rates M2 Communications as a Buy for continued growth in revenues, profits and dividends as the company grows both organically and via acquisitions.

A monthly survey by National Australia Bank has found that business conditions throughout Australia remain at record high levels, increasing the chances for another RBA rate hike this year.

The IT sector is a market favourite thanks to strong performances by companies such as Oakton and SMS Management & Technology. Intersuisse suggests adding Data#3 to that list.

Merrill Lynch has made its latest round of commodity price upgrades with some significant movements, while Paladin’s Borshoff tries to talk up the stock.

Intersuisse analyst Peter Russell suggests Service Stream may announce its first acquisition in non-telco related services in a not too distant future. And it should be a positive for the company’s growth prospects.

A rumour hit the market late yesterday that BHP and CVRD were looking to take out Rio, while Woodside has just initiated what may be an enormous LNG deal.

Oz job growth numbers exceeded expectations in August.