Against market estimates calling for a widening, Australia’s trade deficit narrowed in June by around 40% compared to May.
For the second time since its interim result Bendigo And Adelaide Bank has lowered earnings guidance, splitting views on the stock between the value on offer and the risks to ongoing earnings.
Navitas has defied the global economic downturn to deliver a better than expected full year result and with further strong growth likely in FY10 and beyond brokers have lifted earnings forecasts.
Australian retail sales for June were weaker than economists had predicted.
The RBA has left its cash rate at 3% again and no longer sees “scope for further easing”.
ANZ Bank says the open nature of the Hong Kong and Singapore economies explains why both were hardest hit by the global economic downturn.
RBS Australia has joined the chorus of brokers turning more positive on the banking sector, lifting its forecasts, targets and in some cases ratings primarily to reflect lower bad debt expectations.
There is a proposal at hand that Australian banks be allowed to issue “covered” mortgage bonds in order to restart the securitisation market. Is this just a step back into hell? FNArena responds to a reader enquiry.
Evidence the economic recovery in Australia remains fragile can be found in the fall in the ANZ job ads series in July, the 15th consecutive month of decline in the measure.
China’s manufacturers continue reporting improving circumstances, but foreign demand for their products remains lacklustre.
