The opening week of the August reporting season in Australia has been a rather subdued one, both in terms of results releases and of share market action.
Stockbroking analysts issued eight upgrades for individual ASX-listed stocks against 11 downgrades during the week ending Friday 3 August 2018. Seven of the eight upgrades moved to Buy, with only ALS ltd's upgrade stopping at Neutral. Smaller mining and energy stocks continue to feature prominently.
Local reporting season ramps up this week. The early warm-up act has seen more misses than beats, including from Rio Tinto, but investors would be wise not to draw any conclusions just yet as this season has only just started.