Daily FNArena News

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.

Not that US economic data is ever not critical, but this week’s numbers will take on added significance among the headless chooks.

No one wanted to take home their risk for the weekend, as Friday night saw another round of nervous liquidation of positions. Precious metals bore the brunt.

Is silver’s outperformance versus gold about to come to an end? Barclays Capital is bullish on palladium, and on gold, but not so on silver.

Industry consultant MEPS points out higher nickel prices mean higher alloy surcharges and with oversupply emerging stainless steel prices appear headed lower in both North America and Europe.

Where to, the nickel price? If it’s down then Minara is in big trouble. It if it’s up than Rio will be left behind by BHP.

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

The latest review from GFMS shows gold hedging continuing to decline, while factors supportive to the gold price outlook remain in place.

CLSA’s monthly survey into trading conditions for Chinese manufacturers revealed very, very buoyant conditions. If anything, more measurements to slow down seem necessary.