Daily FNArena News

But then – it always does.

Both Citi and GSJB Were have upgraded ANZ Banking Group to Buy this week as the stock is now at a discount to its sector peers despite what brokers see as solid earnings growth.

The Dow bounced back over 300 points last night following good news in retail and financials, and a sharp drop in the oil price.

Having underperformed global markets over the past two years the Japanese market offers value but GaveKal cautions against taking an aggressive position as there are few catalysts to drive prices.

Computershare lifted earnings guidance yesterday and brokers have increased earnings forecasts as a result but not all are convinced the gains can be sustained.

Business conditions and capacity utilisation are at record levels according to NAB’s Monthly Business Survey for October, while there are signs of increasing wages pressure.

The move to risk aversion accelerated last night as credit crunch phase II intensifies. Gold copped the brunt of the selling.

Spot uranium took a breather last week, industry consultant TradeTech reports.

PNG is renowned for its mineral abundance, and the island of New Britain is the site of three exciting copper-gold-molybdenum systems. Recently incorporated Coppermoly has initiated an IPO with the goal of exploiting these highly prospective projects.

Brokers are not convinced of the benefits of the Alinta acquisition for SP Ausnet shareholders given the dilution in equity and questions over the estimated synergies.