Daily FNArena News - Australia

National Australia Bank’s Manufacturing Activity Index fell sharply in the September quarter, reflecting a decline in business confidence and higher purchase costs.

Deutsche Bank has initiated coverage with a Buy rating on Ausdrill, bringing to five the number of positive views on the integrated mining services group.

Macquarie has initiated coverage on rare earth play Lynas Corporation, joining other brokers in seeing significant valuation upside as the company enters production.

Computershare has finally received approved for the acquisition of BNY Mellon operations and brokers have reacted by lifting expectations in coming years.

Falling iron ore prices have forced OneSteel to cut earnings guidance and brokers have quickly adjusted estimates, targets and ratings lower as a result.

While Bell Potter has long been a fan of Mesoblast’s stem cell technology, Macquarie initiates with an Underperform rating and argues the market has become over-excited.

With work planned at both the Browse and Santos Basins in coming months, positive news flow is expected to drive the share price of Karoon Gas.

With Transpacific finally addressing its debt issues brokers have started upgrading ratings seeing upside potential as management focus returns to operations.

It was that CPI number that did it in the end. The RBA made many Australians winners today with its rate cut, and all those in cash losers.

The RBA today cut its cash rate by 25 basis points to 4.50%.