Daily FNArena News - Australia

The recent deal between Queensland Gas and BG Group has focused attention on LNG developments in Queensland, with brokers seeing upside for gas prices and for those companies with significant reserves.

As it continues to recycle tough comparable sales growth numbers from last year brokers are forecasting a subdued 2Q result from ResMed.

National Australia Bank’s latest Quarterly Agribusiness Survey shows while the drought continues to impact conditions are improving.

Australian Stock Exchange is expected to post a strong profit result next week but brokers are divided on whether there is value in the stock given increasing earnings headwinds.

Valad Property’s convertible note issue raises more questions than it answers in regards to this once preferred REIT.

BHP Billiton has come out fighting and sweetened its 3 for 1 preliminary offer for Rio Tinto.

The RBA today raised the cash rate to 7.00%.

Dr Steve Keen reiterates his view that the RBA’s anti-inflation stance only exacerbates the real problem in Australia.

National Australia Bank’s latest quarterly survey of business conditions suggests while the outlook remains strong conditions have peaked.

The accounting changes announcement that spooked the market yesterday is not so much of a problem. Mortgage security downgrades might be, however.