Daily FNArena News - Australia

UBS has made minor changes to its model portfolio to reflect May market action, while RBS has identified potential ASX100 earnings surprises in August’s reporting season.

After delivering its Waratah bombshell on Tuesday, yesterday saw a resolute Downer management team hosting a scheduled Investor Day. Tomatoes anyone?

A snapshot of economist responses to today’s March quarter GDP result for Australia.

Perennial disappointer Downer has once again shattered market confidence with another spurious risk management failure. No one is amused.

The RBA was never going to change last month’s rate, but a surge in April retail sales and a plunge in building approvals did surprise economists.

The RBA surprised no one when it kept its cash rate at 4.5% this afternoon.

Investors are currently nervous and FY11 earnings estimates may be too high but Citi still sees value in equities at current levels, while GSJB Were outlines its current preferences.

With net credit demand in Australia beginning to ease, the Big Four banks are jostling for position among the various market segments.

A snapshot of economist responses to today’s wealth of first quarter industry numbers along with April lending data.

Falling demand for leisure travel has hit Virgin Blue very hard in a competitive environment, while Qantas is seeing sufficient offset in premium flyer recovery.