Australia's Ampol eyes best day in a month, UBS upgrades to buy

** Shares of Australia's Ampol ALD.AX rise 2.4% to A$43.67, set for their best day since September 16

** UBS lifts rating to buy

** Says refining margins staying higher for longer will benefit refiners including both Viva Energy and Ampol, but will be particularly beneficial for ALD as its Lytton refinery has completed a major turnaround in the past 3 months

** UBS says Viva in contrast has ouperformed Ampol by 16% YTD, and now trades at a one-year forward EV/EBIT of 12.5x, prompting a cut to 'Neutral'

** Adds Phase 2 of Australia's Fuel Security Services Payment program, which is meant to secure long-term refining capabilities, could provide extra earnings uplift to refiners

** Morgan Stanley analysts say they remain overweight on Ampol and equal-weight on Viva

** YTD, ALD shares up over 36%, VEA up over 55%