Daily FNArena News - Australia

Insurance Australia Group has briefed the market on the next round of restructuring at CGU, leaving broker opinion mixed as to what upside the stock offers from current levels.

Development at DeGrussa and exploration success remain crucial for Sandfire Resources.

Hastings Rare Metals has engaged independent experts to help take its highly valued rare earth project from scoping study to bankable feasibility study.

Karoon has an extensive drilling program planned for the year ahead and the prospectivity of its programs in both Australia and South America offers upside in the view of Moelis.

The RBA remains ever watchful, but as today’s policy statement suggests there are no signs of economic calamity on the horizon.

The RBA today left its cash rate at 4.25%.

A disappointing interim result from WorleyParsons has seen brokers trim earnings estimates, the dominant view being the stock is fully valued at current levels.

Interim results from Australian REITs highlighted the defensive nature of group earnings and showed an increased focus on shareholder returns. Brokers have updated preferred exposures.

Further issues have surfaced at the Lihir mine of Newcrest and brokers have responded by cutting production and earnings expectations and in two cases ratings for the stock.

While Iluka delivered solid full year results the zircon outlook has become more clouded, to the extent UBS suggests a more cautious view on the stock is now justified.