Daily FNArena News - Australia

BlueScope Steel reported lower than expected earnings and with conditions expected to remain difficult brokers see little reason to get excited about the stock.

The appointment of Gail Kelly as the new CEO of Westpac has been well received by analysts but there are also implications for St George, the bank she is leaving after a successful stint in charge.

The RBA is closely watching world economic developments, but at this stage sees nothing to change the overall inflationary story.

A plan to double store numbers in five years should boost earnings for The Reject Shop hence why brokers remain attracted to the stock.

Cochlear has delivered another quality earnings result, brokers making minor increases to earnings estimates while seeing upside potential from bilateral implants and growth in the Chinese market.

Sonic Healthcare has expanded in the German market and brokers have revised up estimates to account for the synergies the deal offers while seeing scope for more acquisitions in the future.

Will it be a deal with iron ore major Rio Tinto? Investors are eagerly awaiting Grange Resources’ next ASX announcement, due soon.

Notwithstanding consideration given to the global credit crunch, the RBA statement of monetary policy shows the central bank is even more worried about inflation than it was earlier.

Beach Petroleum and partner Anzon each sold 10% in the Basker-Manta-Gummy project to Itochu, placing themselves in a stronger financial position.

Recent economic data show gearing levels have increased for both home buyers and corporates. At the same time, interest rates have now risen and corporate borrowing spreads have widened. Not good.