Daily FNArena News - Australia

AGL Energy’s wholesale electricity division was the beneficiary of higher gas and electricity prices in the first half but this was was marred by a sharp decline in consumer segment earnings.

FNArena’s Reporting Season Monitor keeps track of the previous session’s corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

Brokers suspect downside risk to Commonwealth Bank’s financial performance going forward, as mortgage re-pricing that has underpinned favourable revenue trends will not be sustained.

Two new acquisitions will help diversify and improve growth prospects for Magellan Financial. Brokers welcome the news but retain lingering concerns regarding the renewed volatility in financial markets.

Brokers were not surprised by Macquarie Group’s upgrade to FY18 guidance although highlight the exceptional amount of capital raising in the MIRA division.

FNArena’s Reporting Season Monitor keeps track of the previous session’s corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

SpeedCast International has announced an agreement with the NBN to provide satellite services, representing a substantial increase in scale for the company.

Wesfarmers has announced material downgrades to expectations from its Bunnings UK & Ireland division, with several brokers suggesting the risk is growing for an exit from the UK.

Several factors have combined to make January the worst month in six for returns from A-REITs. Yet several brokers suggest there is value in individual stocks.

Brokers have welcomed the substantial improvement in James Hardie’s earnings in the December quarter, amid increased activity in the US and a continuation of the strong Australian residential cycle.