Daily FNArena News - Australia

The overall trend in NAB’s business confidence survey is still to the upside, but there are disparities across sectors such as mining and retail.

UBS economists have taken a sample set of the figures that will make up the second quarter CPI, and it doesn’t look that promising.

June Job Ads data was stronger than expected, leading ANZ Bank to suggest unemployment could fall below 4.0% by the end of the year.

Australian has enjoyed strong growth in employment since the start of 2006 and Westpac expects a continuation of this trend.

Commonwealth Bank suggests those worried about rising bond yields relax a little as conditions remain supportive for both domestic equities and the Australian dollar.

From being highly recommended a week ago things have gone very wrong for Perseverance as the company is in a trading halt, likely pending details of an equity raising.

Fairfax has joinced forces with Macquarie Media to share the spoils of Southern Cross Broadcasting, but JP Morgan and Merrill Lynch suggests it is no longer a target as a result.

With competition still strong and rationalisation seemingly not yet a viable option brokers remain cautious on Sigma Pharmaceuticals after the company revised lower its earnings guidance.

Cash rate left unchanged at 6.25%.

Dwelling approvals throughout Australia fell a lot more than expected in May while retail sales were down when expected to be up.