Daily FNArena News

Cost cutting, improved efficiencies and asset sales are the goals of the three big Australian miners BHP, Rio and Fortescue. Analysts suggests subsequent re-ratings are on the cards.

The Chartist reports abullish divergence is appearing on the chart of the Shanghai Composite, with a dip lower needed to suggest a rally ahead.

With funding costs falling, Australian banks may now face mortgage rate competition. With valuations stretched, are share prices vulnerable?

Short positions have increased in silver and gold while Oz copper stocks underperform the metal. Time to buy aluminium on dips, and DAP prices improve.

A wrap of the day’s activity on the Australian stock market.

CSR has decided to restructure the troubled Viridian business and close two plants. Brokers welcome the capitulation but wonder at the efficacy.

FNArena’s Treasure Chest reports on money making ideas from stockbrokers and other experts. With Australian economic data looking healthier and a drought starting to bite in New Zealand, ANZ recommends a long AUDNZD trade.

Michael Gable of Novus Capital suggests the ASX 200 may be entering a topping phase on the charts.

Analysts believe iron ore prices may ease, a bit, while Chinese steel production stays firm. Alumina’s price drop is delayed while lead is a buying opportunity.

While Beijing is famous about maintaining control of the Chinese economy, there are a number of good reasons for China to internationalise the renminbi.