PRESS DIGEST- Financial Times - March 27
March 27 The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Bank of Queensland has seen the maximum number of analyst downgrades in Australia's financial sector in October, data from Thomson Reuters StarMine shows.
Six analysts have downgraded the stock during the period.
Bank of Queensland's Analyst Revision Model (ARM) score has fallen sharply to 8 from 67 a month ago.
The analysts have also cut their EPS estimates for the lender for the year ending June 2013 by 8.2 percent over the past month.
The bank also has below-average scores of 30 in Earnings Quality model and 27 in the SmartHoldings model.
Three out of 17 analysts have 'sell' rating on the stock while eleven have 'hold' and three have either 'buy' or 'strong buy' recommendations.
The stock has been flat over the past month, while the sector index gained 3.5 percent, until Wednesday's close.
Flexigroup leads the sector with an ARM score of 96.
Rating agency Moody's said last month that though Bank of Queensland's FY12 results showed stabilizing loans quality, profitability challenges remained.
StarMine's Analyst Revision Model ranks stocks based on analysts' revision of earnings and revenue estimates and changes in their ratings and usually gives additional weight to analysts who have been more accurate in the past.
A low Earnings Quality score indicates poor earnings sustainability over the next 12 months based on a company's past operating performance.
StarMine's SmartHoldings model is a global stock selection model that ranks stocks based on expected future increase or decrease in institutional ownership. (Reporting By Patturaja Murugaboopathy; Editing by Gopakumar Warrier)
HONG KONG, March 27 Asian stocks are set to start the week on a cautious note as President Donald Trump's stunning failure to get healthcare reform passed raised concerns about the prospects for his plans to use fiscal stimulus to boost economic growth.