0326 GMT - Up to 10% of Australian mortgage repayments are made by those most whose jobs are most at risk from artificial intelligence, according to Macquarie analysts. Highlighting software engineers, accountants and advertising professionals as some of those most at risk of disruption, the investment bank's analysts flag a potential risk for major banks' credit quality. They think that disruption will first manifest as rising mortgage risk weights and higher impairments related to small- and medium-sized enterprises. National Australia Bank is most exposed to the latter, they add. The Macquarie analysts include their own profession as among those at risk. ([email protected])

0253 GMT - Seek loses its bull at Macquarie as the investment bank's analysts try to figure out whether the Australian job site operator is a long-term winner or loser in the age of artificial intelligence. Cutting their recommendation on the stock to neutral from outperform, the investment bank's analysts lower their local ad volume forecasts on expectations of interest-rate increases and workforce automation. More broadly, they tell clients in a note that they can't see any clear positive catalysts and are uncertain whether AI will benefit or hurt Seek over the longer term. Macquarie cuts its target price 5.1% to A$18.50. Shares are down 3.2% at A$15.89. ([email protected])

0153 GMT - Rising interest rates and margin pressure were among the key talking points of Australian company executives during this past reporting season, while commentary on artificial intelligence "continued to mature," Morgan Stanley says in a note. Analyzing earnings transcripts across key industries, the U.S. bank says that "corporate commentary was noticeably different in the February reporting season, relative to the prior season in August." The focus shifted to higher rates--versus rate cuts--and mentions of margin pressure increased materially, Morgan Stanley says. There was a "notable rise in discussion around cost-out initiatives, suggesting management teams are focused on internal levers to defend earnings," it says. On AI, discussion moved away from broad strategic ambition toward tangible operational outcomes, the bank adds. ([email protected]; @RhiannonHoyle)

0126 GMT - After a rebound in lithium prices, options are emerging to restart some idled production capacity, says Morgan Stanley analyst Rahul Anand. Yet he expects "limited impact" in the near term from companies bringing mothballed sites back online. Anand highlights shuttered Australian operations as the "swing factors" for the market. But MS only expects PLS's Ngungaju plant to restart near term. That site could contribute roughly 6,000 metric tons of lithium carbonate equivalent this year, assuming a 3Q restart, Anand says. While Mineral Resources Wodgina Train 3 could add roughly 33,000 tons a year at its full run-rate, "meaningful volumes are not likely until CY27 due to feed requirements," says Anand. Mineral Resources is also reassessing Bald Hill, but the timing of any restart decision is unclear, he adds. ([email protected]; @RhiannonHoyle)

0111 GMT - Orica's 1H underlying EBIT estimate is a bit above what Macquarie expected. Explosives maker Orica says its 1H underlying EBIT is expected to be slightly higher than last year's A$488 million. Macquarie forecast A$483 million, while Visible Alpha consensus is around A$493 million. Macquarie says Orica's "quantified cost-out program is positive and should support earnings growth in future years along with solid end-market demand." The stock has fallen back from a 13-year high in January. That reflects a recent market selloff and concerns about disruptions at CF Industries' Yazoo City plant, Macquarie says. The bank has an outperform rating and A$25.95 target on Orica. The stock is down 2.7% at A$21.07. ([email protected]; @RhiannonHoyle)

2301 GMT - Macquarie's bull at Jefferies thinks the Australian financial group is moderately valued as cyclical indicators near positive turning points. A note from one of the investment bank's analysts opines that Macquarie is entering a strong growth phase where "market conditions, industry dynamics and internal transition converge." The analyst writes that conditions at its asset-management and commodities/global markets units are near or at a trough, while returns from banking and financial services are already strengthening. They also see identifiable levers for improvement at Macquarie Capital. Jefferies lifts its target price 17%, to A$245.20, and keeps a "buy" rating on the stock, which is at A$195.45 ahead of the open. ([email protected])

0548 GMT - Miners' output last year fell 1% short of corporate guidance, but the scale of the miss was better than the long term trend, says Citi analyst Ephrem Ravi. Over the past decade, mining output has missed guidance by an average 2.6%, he says. Last year's miss was primarily the result of soft output of base metals--particularly copper--by Glencore, Anglo American and Antofagasta, says Ravi. "The intention of this exercise is to provide a guide to investors as to the historical track record of production versus guidance," he says in a note. "We would not interpret this as miners being consistently too optimistic as they do not/should not incorporate any major 'disruption allowance' into their estimate--that is up to investors to do." ([email protected]; @RhiannonHoyle)

(END) Dow Jones Newswires