Daily FNArena News - Australia

The Australian economy is strong enough to withstand a US slowdown, while further Fed action should limit the extent of any slowdown according to CommBank.

The Santos quarterly disappointed the market not so much on production but on revised guidance and higher tax, so earnings and ratings have been cut as a result.

There were no upside surprises emanating from the third quarter production reports of BHP, Oxiana, Newcrest and Gloucester Coal. BHP disappointed most.

The long awaited CPI release for the September quarter is out. And the RBA preferred measure suggests a rate hike should follow soon.

AGL has wasted no time in dismissing CEO Paul Anthony following the extraordinary downgrade. What now?

The odds seems in favour of a stronger than expected CPI figure for the September quarter later this week after a stronger than expected PPI release today.

Is Commander Communications toast?

On JP Morgan’s analysis, recent issues of mortgage backed securities from small banks and non-banks have been at a loss, indicating the market is still in serious trouble.

The stronger Australian dollar is playing havoc with the earnings of Iluka Resources, with brokers slashing estimates and advising risk remains to the downside.

There were few surprises in the ERA quarterly production report as the company gets back to normal after flooding impacted on operations in the first half of 2007.