Rudi Filapek-Vandyck has been a journalist for nearly three decades, of which nearly two decades has been in finance. After successfully establishing a leading financial news service in Europe, Rudi moved to Australia where he founded FNArena, an online service dedicated to providing independent and unbiased market analysis. He has also develope...View more >
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In what was a very busy week for brokers, companies that issued profit downgrades, and those that had big share price gains, were on the receiving end of a slew of downgrades.
Broker activity moved away from the miners and resource stocks last week with CPU, Lend Lease and Macquarie all getting upgrades.
While positive revisions may be spreading across sectors, downgrades are still pretty much the domain of mining and mining services stocks.
After a run of bad luck, or poor planning depending on your opinion, mining stocks are back in the good books of some brokers.
In a busy week, brokers were paying a lot of attention to companies that would, and wouldn’t, benefit from a falling Aussie dollar.
Banks and financial sector companies were the darlings this week, as share price falls made them more attractive on a value basis.