It turns out some of the local yield stocks might have risen a tad too far, while ongoing reductions to commodity prices forecasts continue to impact. Plus some sectors/companies are experiencing various forms of negative news, ranging from healthcare reforms in Australia to soft commodities and the weather, to a reshuffling of major bank preferences by the Macquarie brokers.
In the good books
Australia & New Zealand Banking Group (ANZ) upgrade to Outperform from Neutral by Macquarie B/H/S: 5/2/1
Macquarie brokers acknowledge ANZ faces more risks than its peers because of the exposure to slowing Asian markets and an overweight position in the resources sector.