Daily FNArena News - Australia

Austock Securities has downgraded Map Group on valuation grounds following changes to the analyst’s model.

Not everyone is convinced the future looks bright for retailer Myer.

After five months of upside surprises Australian labour force data for February were essentially flat, a result seen as unlikely to pressure the RBA on the timing of further rate hikes.

In a result below market expectations Australian housing finance approvals in January were down 7.9% as higher interest rates impacted on first home buyers in particular.

Local GDP forecasts increase on bulk commodity prices, while range-trading and stock-picking look to be the story for 2010 in a more conservative corporate environment.

The Westpac Consumer Sentiment Index rose again in March but can it withstand further rate rises?

The ANZ Job Ads series for February showed gains in both newspaper and internet ads, more than reversing the fall recorded in January.

The NAB Monthly Business Survey and Economic Outlook for February showed gains in both business confidence and conditions, though the bank’s growth forecasts remain unchanged.

Higher disposable incomes in Australia in 2009 were not matched by consumer spending levels, leading CommSec to suggest consumers are still somewhat cautious.

Sales growth will be a key point of interest in Myer’s upcoming half-yearly report.