Daily FNArena News - Australia

The case for taking advantage of Henry-led weakness in the shares of Australia’s two diversified resource majors – the main targets of the tax.

A snapshot of economist responses to today’s Australian Building Approvals data for March.

One last hike and we have reached the “average” level, with the RBA hinting the tightening phase is over for now.

The RBA this afternoon decided to lift its cash rate to 4.5%.

While the proposed resource tax is nothing but bad from an industry point of view, confusion over details has led to varying analyst interpretations before we even consider whether this legislation will pass.

Morgan Stanley continues to expand its smaller cap company coverage, initiating with Overweight ratings on Campbell Brothers, Imdex, CSG Limited and SAI Global.

Macquarie Group’s earnings were a little on the soft side but post-GFC it’s all about opportunities in a new frontier funded by plenty of capital on the balance sheet.

ResMed beat market expectations with its March quarter result and brokers continue to see share price upside from a solid earnings outlook.

The TD Securities-MI inflation gauge for April recorded a gain of 0.4% for the month.

Australian wealth levels have rebounded quickly from the Global Financial Crisis and will give the RBA confidence to act as it sees necessary on interest rates.