Daily FNArena News - Australia

The ANZ Job Ads series rose 5.2% in November, reversing the fall recorded in October and supporting the view the recovery in the Australian economy remains on track.

After the RBA’s latest rate hike, economists from ANZ have revisited their expectations and now expect a slower pace from the RBA.

Australian retail sales for October were up slightly, reversing the weaker September figure.

Perpetual held a strategy day yesterday and the market has reacted positively, with brokers upgrading ratings and the shares climbing today.

Caltex’s bid to acquire Mobil’s 302 service stations in Australia is knocked back by the ACCC seeing brokers move to downgrade forecasts.

The November CBA/AiG Performance of Service Index reading showed a consolidation for the month, supporting the view the Australian economy is enjoying a modest recovery.

Metcash’s interim profit result disappointed much of the market and has prompted ratings downgrades from three brokers.

It was a quick message this month, effectively saying “see November”, before the rise to 3.75%.

The odds were close to 50:50 as far as expectations were concerned this morning, but in the end the RBA stuck to its guns with a rise to 3.75%.

While not much has changed post APN News & Media’s two-day investor conference, brokers remain confident about the company’s recovery prospects.