Daily FNArena News - Australia

Despite a disappointing production downgrade for Perseverance analyst assessment still suggests a cheap entry into gold.

As part of a consortium of investors Macquarie Communications has acquired a US broadcast tower company, brokers estimating it is paying a full price for entry into the US market.

Analysts expect another solid year for the Australian equity market in FY08, with China, oil prices and the US economy posing the major risks.

The latest TD/MI inflation gauge suggests inflation is being kept low by a strong Aussie dollar, but domestic inflation is on the rise.

CommBank strategist Tobin Gorey believes recent ABARE calculations suggest the Australian economy will receive an extra boost in the year ahead.

Transfield surprised the market yesterday by indicating it had approached GRD about a takeover, brokers seeing little upside if such a deal were to proceed.

Accounting software group MYOB yesterday updated the market on its trading performance for the year to date, offering enough for Aspect Huntley and Macquarie to maintain their positive view.

As productivity becomes an election issue, CommSec interprets the latest data.

Upgraded earnings guidance from management has seen Merrill Lynch lift its target on Nomad Building Solutions to $3.00 from $2.50, while ABN Amro and Shaw Stockbroking also rate the stock as Buy.

Relief has greeted the completed ramp-up of the Murray Basin and reconfirmed production targets. Revenues, however, are tenuously guided on a US75c Aussie.