Daily FNArena News - Australia

Higher fertiliser prices have led both Credit Suisse and ABN Amro to lift earnings forecasts for Incitec Pivot, with more upgrades likely as the market plays catch up.

Despite reporting a fall in profit Austock has upgraded Maxitrans to Buy, suggesting greater certainty in future earnings presents an opportunity at current levels.

The CBA-AIG PSI index recorded solid gains in February and is now at its highest level for a year thanks to gains in sales, new orders and inventory levels.

ANZ Bank has rescheduled its market update, previously planned for March 22, to Friday morning, March 2.

The battle between Paladin and Summit hots up once more as Paladin makes a hostile bid to secure the Valhalla resource.

Macquarie and Aspect Huntley believe the proposed deal has a good chance of succeeding at ConsMin. Investors, however, seem to bank on a competing bid.

Coles management are likely to receive a final price higher than the $15.25 proposal of KKR last year, but brokers don’t expect a lot of upside given the poor operating performance.

It has become too expensive to build a new hotel in Australasia. Abacus Property has launched a new fund allowing retail investors the opportunity to enjoy growing yields from the existing ones.

Deutsche Bank leads the way in rating Adelaide Brighton as a Buy, but earnings and dividend forecasts across the market have been increased following a better than expected profit.

Iluka’s 2007 guidance downgrade was enough for many a long-suffering analyst to consider the stock not worth touching for at least a year.