Things turned noticeably more negative during the week ending Friday 25 August 2014. This as a result of share prices setting new six year highs and the local reporting season unveiling ongoing weakness from the weaker parts in the domestic share market.
FNArena registered no less than 42 downgrades in ratings for the week, significantly outnumbering the 20 registered upgrades. Some companies attracted more than one change in rating and on the positive side we find ARB Corp and Tox Free Solutions in such a position. There are many more in comparable position on the negative side: ASX, BHP Billiton, CFS Property, Mirvac Group, Mt Gibson, Tatts and Wesfarmers.
In the good books
Alumina (AWC) upgraded to Buy from Neutral by UBS.