Daily FNArena News - Australia

Labour force data for April was stronger than the market had expected and economists see it as keeping the RBA’s tightening bias in place for some time.

While short of surprises the Westfield quarterly showed the underlying business remains solid and brokers continue to see relative value in the stock.

Goodman Group has divested a non-core asset at a reasonable price and brokers have responded positively, continuing to take a positive view on the stock’s outlook.

The RBA is less definitive this month than it was when it also left rates unchanged last month.

The RBA decided to leave the cash rate at 7.25%.

A recent rally in the stock follows some good news and yesterday’s rail deal with Grancorp adds to the view of a number of brokers there is value to be found in the shares.

Following two months of falls the ANZ Jobs ads series posted a solid gain in April but the bank sees a flattening of the trend as businesses become more cautious in hiring new workers.

ResMed delivered a quarterly result largely in line with expectations but brokers continue to have mixed views as to the scope and toming of any turnaround in the group’s US operations.

TD Securities is no longer confident the RBA will remain on hold tomorrow following the release of the TD-MI inflation gauge result for April.

April’s CBA-AiG PSI Index figures show rising interest rates and fuel prices are beginning to bite, most services sectors recording a downturn from the previous month.