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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Downgrades were the order of the day last week for brokers, as many cut their commodity forecasts, which results in poorer outlooks for some miners.
It was a busy week last week for brokers who were in a very good mood, upgrading 24 companies and downgrading 13.
Brokers were in a good mood last week with only one downgrade. The 11 upgrades included Boart Longyear, which got a tick from CIMB for cost cutting.
There were plenty of big names in the good books this week. As well as Bluescope and Tabcorp, Billabong and Boart Longyear are also in some brokers favour.
The wind is truly beneath the wings of air travel related stocks this week, with Qantas, Sydney Airports and Virgin all receiving upgrades on the back of an improved outlook for the sector.
Brokers were a bit more active last week but there were more pessimists that optimists, as many continued to be disappointed by the performance of some of the big retailers.