Daily FNArena News - Australia

The Australian REIT sector outperformed the broader market in August and brokers expect an continuation of the trend of increased share buybacks and M&A activity in the sector.

A disappointing full year profit result from Paladin has seen brokers remain divided on the outlook for the stock.

Sims beat market expectations for full year earnings and with the stock offering leverage to a US recovery, broker upgrades have followed.

Alesco has downgraded guidance for FY12 given further deterioration in markets and brokers see implications for other building products companies.

Bell Potter sees significant upside potential from Mesoblast’s stem cell technology and has lifted its price target accordingly.

Flight Centre delivered a record profit result and guided to further growth in FY12. Stockbrokers loved it.

Whitehaven Coal delivered a solid full year result and continues to progress the Vickery project. Two stockbrokers have upgraded to Buy.

A better than expected profit result from Amcor was driven by synergy benefits, while capital management initiatives suggest a confident outlook.

A report by BIS Shrapnel suggests Australian retail property should deliver solid returns despite tough conditions as consumer spending levels will eventually improve.

While costs are likely to stay higher Fortescue has reiterated production growth targets. Stockbrokers are pleased.