19 days ago, source: FN Arena

By Chris Shaw Yesterday Rio Tinto held its annual investor seminar and analysts at Macquarie have returned with the view that the key message from management was lacking in bells and whistles, but it offered an optimistic outlook as there is a new commitment to growth on the back of a far stronger balance sheet position. The numbers offered by management show Rio Tinto's gearing has fallen to 33% as at the end of the September quarter, while net debt now stands at US$22.3 billion.

19 days ago, source: FN Arena

By Chris Shaw Today the Reserve Bank of Australia (RBA) is expected to again lift official interest rates, continuing its policy of normalising the rate setting environment after the extraordinary easing put in place in response to the global financial crisis.

19 days ago, source: FN Arena

 By Greg Peel The Dow closed up 76 points or 0.8% while the S&P managed 0.6% and the Nasdaq struggled to 0.2% It was manufacturing day across the globe yesterday.

19 days ago, source: FN Arena

BA-Merrill Lynch rates as Neutral, Low Risk - Comparative US mall funds posted strong enough quarterly results for the broker to feel positive about Westfield.

20 days ago, source: FN Arena

Employment in the Chinese manufacturing sector rose in October at the sharpest rate since April 2004, while export orders hit a 28-month high and pre-production inventories rose for the first time since July 2007.

20 days ago, source: FN Arena

By Chris Shaw Manufacturing and distributing company Crane Group suprised the market on Friday with weak earnings guidance for FY10, with management at the annual general meeting indicating net profit for the year was likely to be around 30% lower than for FY09 when significant items are excluded, an outcome 25-30% below market expectations. According to UBS, the biggest problem appears to be in the Iplex pipes division, which has been the most profitable part of the company over much of the past decade, but is currently struggling given the lumpy nature of contracts for water projects and a weaker market in terms of smaller scale capital works projects. In contrast, the Tradelink and Industrial Products divisions appear to be performing better than at this time last year, but as UBS notes, the gains here are not enough to offset the weakness in Iplex and ongoing struggles in the New Zealand operations, which account for 15-20% of Crane's earnings. Post the revised guidance, brokers have been quick to cut earnings forecasts, RBS Australia lowering its net profit forecast for FY10 by 29% to $40.6 million and its FY11 number by 32% to $51.6 million.

20 days ago, source: FN Arena

 By Chris Shaw After three straight quarterly losses, scrap metal play Sims Metal Management returned to profit in the September quarter, recording earnings of $33 million for the period.

20 days ago, source: FN Arena

(This story was initially published on Wednesday, October 28, 2009.

20 days ago, source: FN Arena

JP Morgan rates as Upgrade to Overweight from Neutral - Target $23.91 (was $24.16).

22 days ago, source: FN Arena

By Andrew Nelson The Dow closed nearly 250 points, or more than 2.5% lower, while the S&P 500 sank 2.8% and the Nasdaq gave up 2.5% as well. Stocks dropped on Wall Street, more than erasing the previous session's gains on the euphoria of a third-quarter GDP read that was far better-than-expected.

23 days ago, source: FN Arena

By Andrew Nelson Comments from Flight Centre's AGM underline that the company's Australian business is improving more quickly than most had been expecting.

23 days ago, source: FN Arena

By Chris Shaw Lihir Gold recorded production in the September quarter of 233,000 ounces in a result better than most in the market had anticipated, Deutsche Bank noting it was 9% above its number as maintenance work done in the period was completed faster than expected. The other good point about the production numbers, in Deutsche's view, was it showed all mines were performing to expectations, keeping Lihir on track to meet re-affirmed full year production guidance of between 1.0-1.2 million ounces.

23 days ago, source: FN Arena

 By Greg Peel The Dow rallied 174 points or 1.8% while the S&P gained 2.0% to 1063 and the Nasdaq clawed back 1.8%. On this day in 1929, the Dow fell 30 points.

23 days ago, source: FN Arena

RBS Australia rates as Hold - Target $2.86 (was $2.78).

24 days ago, source: FN Arena

 By Greg Peel The argument is simple.