Daily FNArena News - Australia

According to TD Securities the Australian economy has a good track record of solid performance in times of global market volatility, a trend expected to continue through the current credit crisis.

Analysis by Deutsche Bank analysts has revealed St George Bank’s capital and earnings outlook is now under threat due to the ongoing freeze in debt and credit markets.

Australia’s cash rate remains at 6.5%.

A shock GDP number suggests an interest rate rise should be forthcoming as soon as the markets settle down.

Austock Securities has intiated coverage on Spark Infrastructure with a Buy rating, seeing the company as a defensive play and attractively priced relative to peers.

Today’s inventory data has negative implications for GDP data due later this week but according to TD Securities there has been no easing in inflationary pressures in the Australian economy.

Australia’s Export credit risk agency has registered a vote of confidence in Equinox by taking a role in organising political risk insurance for the company’s Lumwana copper project in Zambia.

ANZ job ads figures for August show continuing growth on a slowing trend.

An improvement in the trade deficit along with solid retail trade and private sector credit data suggest the Australian economy remains healthy.

Australian capex in the June quarter was stronger than the market had expected and is likely to result in upgrades to consensus GDP growth forecasts.