Daily FNArena News - Australia

Standard and Poor’s has announced changes to the composition of its Australian indices and Myer is seen as a likely winner.

Q4 GDP growth for Australia came out at 0.9%, plus the Q3 growth figure had been revised upwards.

Minc Stockbroking’s Doug Grant suggests why traders should be shorting James Hardie despite its recent fall.

DJ Carmichael has initiated coverage on China Steel and Wildhorse Energy, seeing value in both juniors at current price levels.

The RBA had indicated in its previous minutes that data would inform the next decision, and that has been the case in today’s 25 point cash rate hike.

The RBA today bowed to the pressure of recent data and lifted its cash rate to 4.00%.

Southern Cross Equities believes tissue repair technology play bioMD offers upside as its clinical trials are progressing.

Economists at TD Securities are worried the RBA might be too relaxed about inflation.

BA-ML has removed Toll from its in-house favourites, while chartists believe we may have seen the high for crude oil already.

Australian capital expenditure numbers for the December quarter were stronger than anticipated, adding weight to expectations for a rate hike next month.