On the negative side of ratings, of which there are many, we find a whole slew of iron ore exposed stocks, alongside department store owner and perennial market disappointer, Myer. The latter stuck to a long-lasting legacy and disappointed yet again with its financial market update. The event was good for no less than four downgrades in rating.
In the good books
BC Iron (BCI) was upgraded to Neutral from Sell by Citi after the recent fall in the share price. If the Iron Ore Holdings (IOH) deal fell over, the broker would consider this as a positive, as the company does not appear to generate enough cash to fund the Buckland project on Citi's iron ore price forecasts.