Daily FNArena News - Australia

Sims Metal surprised brokers with its better-than-expected FY16 guidance but sentiment remains cautious given the rally in scrap metal prices has not been sustained.

FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.

Brokers consider Wesfarmers’ strategy to turn Target around and expand Bunnings in the UK is sound but suspect pressure on earnings will result in lower dividends.

FNArena’s weekly update on short positions in the Australian share market.

The outlook for the Australia Real Estate Investment Trust sector is mixed with brokers upbeat on office assets and US exposure while being cautious about retail centres.

Weekly Update on ASX-listed companies buying in their own stock.

Metcash produced a FY16 result that was largely as expected, with the challenges in the food & grocery segment continuing to divide brokers.

Brokers remain positive on insurance broker Steadfast in the longer term, but see little near term upside.

Increases in scrap prices in April and May have not held up in June, leading some brokers to downplay the outlook for Sims Metal Management.

Rising interest in lithium, coupled with a surge in the iron ore price earlier in the year, has lifted Mineral Resources to new heights forcing several brokers take a cooler approach to the stock.