Daily FNArena News - Australia

Strength in its land & development portfolio has caused Brickworks to substantially upgrade net profit guidance in FY17 but the company also expects operating earnings in building products to be lower.

Exploration success has become increasingly important to Sandfire Resources and several brokers downgrade the stock in the face of investor caution.

Fortescue Metals beat expectations on iron ore production and sales in the June quarter but what really flummoxed brokers were record low costs. And there’s more.

Automotive parts business Bapcor has quantified the expected synergies from the acquisition of New Zealand’s Hellaby Holdings and surprised on the upside.

Brokers welcome Super Retail’s intention to convert all the Amart Sports stores to the Rebel brand, creating a leaner division that will face the growing competition.

Newcrest Mining is emerging from the disruption caused by a seismic event at its Cadia copper/gold mine. Brokers assess the outlook and growth options for the miner.

Mineral sands miner Iluka Resources posted a strong beat on production and sales in the June quarter but brokers disagree over valuation.

Regis Resources impressed in FY17, delivering strong gold production. Risks for FY18 are skewed to the upside largely because of the potential at Duketon.

Wealth manager Perpetual has revealed negative net flows in the June quarter and several brokers have become bearish on the fund manager’s growth outlook.

South32 missed expectations on several fronts in its June quarter but continues to screen well for brokers on current multiples, underpinned by a strong balance sheet.