Daily FNArena News - Australia

Morgan Stanley has initiated on Karoon Gas with a Buy rating.

Hopes are increasing that the global recovery will take the shape of a V, but if any region’s likely to have a little W shaped hiccup it might be Europe.

A private equity group has withdrawn it previous expression of interest in Emeco but this is not necessarily a negative.

From eight Sell ratings in the FNArena broker universe and one Hold, Fortescue Metals has suddenly scored an upgrade to Buy.

Major shareholder CanWest has sold out of Ten Network. Good news?

While David Jones beat expectations with its full year profit result most brokers covering the stock see little value in the shares at current levels.

Retail group Premier Investments delivered a solid full year result and brokers have responded by lifting earnings forecasts.

Short-term uranium prices continue to soften, but as the longer term outlook improves, so do the prospects for the main Aussie plays.

Stockbroker Intersuisse rates mining services group Industrea a Buy on the back of new contract wins in recent months.

Morgan Stanley sees Austar under the threat of competition as broadband services expand in Australia.