News Headline Summary

Pre-market Australian Stock News…

- Co. seeks to expand existing ops in Asia, according to Co.’s Asia-Pacific CEO. (Newswires)

BHP Billiton (BHP AT)
- Co.’s latest wage offer at Escondida unit in Chile “approaches” worker demands. (Newswires)

Commonwealth Bank (CBA AT)
- Commonwealth Bank and Industrial and Commercial Bank of China expected to bid for Rabobank’s Indonesian unit by end of January. (Newswires)

Qantas (QAN AT)
- ACCC approves interim authorisation for Qantas and Emirates. (Newswires)

Iluka Resources (ILU AT)
- Co. says early stage exploration in several countries and that intends to idle Eneabba mine in March. Co. will also be releasing their Q4 output figures. (Newswires)

Iron-Ore Explorers and Producers
- Iron-ore to see another year of "exceptional prices" before supplies start outpacing demand; prices may average USD 144 a dry ton in 2013 up from USD 140 previous estimate, according to Goldman sachs. (Newswires)
- China import iron-ore benchmark grade fell 4.9% yesterday, which was the most since 2011, according to Steel Index prices. (Newswires)

Broker Moves

- Sigma (SIP AT) cut to neutral from buy at Nomura.
- Boral (BLD AT) upgraded to neutral from reduce at Nomura, cut to underperform at CIMB and was raised to buy at Deutshe Bank.
- Telstra (TLS AT) cut to underperform at CIMB.
- Ten (TEN AT) raised to buy at Citigroup.
- CSR (CSR AT) rated new hold at Moelis & Company.

16 Jan 2013 - 22:46 - Equities - Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: