Daily FNArena News - Australia

The June quarter Westpac-ACCI Survey of Industrial Trends has recorded stronger conditions in the manufacturing sector, with indications for a similar outcome in the September quarter.

The latest business data shows the Australian economy still firing on all cylinders, which suggests upside risk for growth.

The May TD Securities/MI inflation gauge confirms the benign inflation growth picture for Australia rising by 0.1% after rising by a similar figure in April.

Grange Resources has announced Japan’s Sojita will earn a 30% stake in its Southdown iron ore project, one that should generate revenues of as much as US$700m annually.

A prepaid Visa card? This logical next move in the cashless society should be a winner for local microcap Bill Express.

Shares in Flexigroup have surged 6% today following the addition of the stock to GSJBW’s Conviction List.

The G9 consortium of telcos has submitted its fibre broadband proposal to the ACCC, but Telstra still holds the trump cards.

It would seem management at Emeco has some explaining to do with brokers increasingly worried about the company’s outlook. Some have downgraded the stock.

Westpac’s model for predicting official intrest rates is centred on inflation and here the bank sees scope for an uptick in coming months forcing the RBA to respond by tightening further.

Media reports say Rio Tinto has hired Deutsche Bank in preparation of a bid for aluminium producer Alcan.