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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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.
It was a quiet week for brokers in the aftermath of reporting season with just 17 movements, compared to 60 the previous week. At 14, upgrades well outnumbered three downgrades.
Last week brokers were concentrating on whether or not interim reporting results matched their expectations. It resulted in a very active week with over 60 movements overall.
Brokers were busy digesting interim reporting season again this week, which saw a total of 53 actions overall. Brokers were mostly negative, moving to revise forecasts southerly in more cases than the..
Reporting season finds brokers rather pessimistic. Skilled Group received an upgrade to put it in perfect positive territory and Worley moved into positive territory with an upgrade but ASX moved furt..
Expectations are low this reporting season. Many brokers believe that current share prices are sufficiently reflecting targets. There is some good news though, with Brambles and Newcrest Mining both r..